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Daily Market News- 2 Mar 2015

by Negar MoshirFatemidate: 2 March 2015in News & Reports No Comments

The market rallied today on a flurry of good news. Based on unofficial statements of one the SEO’s directors (Security and Exchange Organization of Iran), an ETF will be established soon which its unit holders have an option to sell 30 percent higher than initial price within one year maturity. If the NAV improves more than 30%, the units can be sold at market price. That means the fund will guarantee at least 30 percent interest for a year which is higher than deposit interest rates of all the banks. It is also mentioned that all the legal market entities can offer and underwrite these kinds of funds and the first one will be offered by the Market Development Fund. However, no more details have been officially approved by the SEO until now.

Daily Market News- 1 Mar 2015

by Negar MoshirFatemidate: 1 March 2015in News & Reports No Comments

Based on the Iranian Tile & Ceramic Assembly’ report, Iran is the fourth producer and the fifth exporter of tile and ceramic in the world. With almost 700 million square meters capacity, Iran produces 450 Million square meters different kinds of tile and ceramics annually. Lack of essential infrastructure for export transportations and not paying attention to design and beauty of products, are indicated as the main problems of this sector.

Although most of the listed petrochemical companies released their next year budgets with considering 8 cent ( 228 IRR) for the rate of their feeds, the parliament and the governments still have not approved this number. This factor has escalated capital market waiting condition. However, most of the active market players believe that the approved rate will be less than 10 cent and even if the rate of feeds is accepted at 9 cent there will be not be many differences.

Daily Market News -28 Feb 2015

by Negar MoshirFatemidate: 28 February 2015in News & Reports No Comments

Iran with 72 cement companies is one the major cement exporters in the world. With 110 percent growth during the last 10 years, the production in this sector has reached 70 million tons annually. In 2002, regarding an approved comprehensive plan, most of the cement companies started to launch new production lines and increased their production capacities by 2-3 times which led to high cost of depreciation and interest expenses for foreign loans in past few years. Moving toward free rates for cement prices was the goal of this comprehensive plan. However, the contrary previous government actions led the prices fall to less than one fifth. Currently this sector is dealing with 15 Million tons excess surplus due to rigid controlling in prices besides the current recessions in the construction sector. For supporting the cement sector, the Housing and Urban development Ministry has suggested using concrete cover instead of Asphalt in road projects. Currently the cement consumption is 720 kg per capita in Iran which is planned to reach 770 in case of positive growth rate.

Daily Market News -25 Feb 2015

by Negar MoshirFatemidate: 25 February 2015in News & Reports No Comments

Rouz Darou Pharmaceutial Co. released its 3Q1393 (year ending 20 Mar 2015) report. Rouzdarou’s main productions include variety of tablets and S.C. Tabs, Capsules and powders. The company sales all its products domestically while some parts of its ingredients are imported. last year the company imported 33% of its ingredients which have increased to 39% in 9 months period this year. The company predicted to increase its production by 10 % this year compared with last year and it could cover more than 74% of this forecasted amount. Generally, the company’s production in 3Q1393 has improved 9 percent compared with same period last year. The company also forecasted 22 and 26 percent increase respectively in its volume and value of sales for Y1393 compared with last year. Although the company’s return in Y1392 jumped by 293 percent compared with Y1391, it couldn’t maintain the same trend for this year. The EPS has been decreased by 30 percent to 263 IRR in 3Q1393 compared with same period last year. In current year budget, the company’s EPS is forecasted 29 percent less than last year EPS. In next year budget the company has reduced its EPS by 48 percent to 182 IRR. The reasons for this negative adjustment have not announced yet.

Daily Market News – 24 Feb 2015

by Negar MoshirFatemidate: 24 February 2015in News & Reports No Comments

Almost 178 companies announced their next year forecasted EPS among which 106 had positive adjustments compared with current year (ending 20 Mar 2015). In the Petrochemical sector 14 companies had positive adjustments and only 4 companies forecasted less than current year’s return. In pharmaceutical sector 19 companies predicted more return and only one declined its return compared with current year. In construction sector, 8 companies had positive adjustments for their next year’s return and two companies reduced their forecasted profit. In banking sector 3 companies expected more return for next year and one company adjusted its return negatively. In automotive sector, 7 companies announced more EPS and 6 Companies announced less EPS than current year. With regard to the SEO’s report (the Security and Exchange Organization of Iran) total forecasted returns have been improved by 8 percent compared with last year report. In year 1393 (ending Mar 2015), the companies forecasted return was 568,000 IRR bn in total which had been 523,000 in previous year. Moreover, the price to earning ratio has reached 5 in current year which was 7.9 in 1392.

Daily Market News – 23 FEB 2015

by Negar MoshirFatemidate: 23 February 2015in News & Reports No Comments

Chemi Darou Pharmaceutical Co. announced 16 percent positive adjustment for its current year EPS. The company could cover 63 percent of its first forecasted EPS in this year 9 months period. Hence the forecasted EPS has been changed to 1,550 from 1,330 IRR for year ending 20 Mar 2015. In its next year budget the vial production has increased by 45% compared with this year. The company also considered 20 percent jump in its rate of vial sale. The 70 percent jump in the sale volume of Suspension is also notable. Totally, the company made some changes in its sale combination and the volume of sale has improved by 18%. This budget is kind of optimistic and negative adjustments are expected for next year.

Daily Market News – 22 Feb 2015

by Negar MoshirFatemidate: 22 February 2015in News & Reports No Comments

The central bank of Iran announced 15.7 inflation rate for the tenth month of current Persian year ending 20 Mar 2015. The inflation rate has declined compared to previous months with slower momentum. Based on this report the consumer price index had also a 16.3 percent increase in 12 months period ending 20 Jan 2015, compared with same period last year.

The director of the Geneva-based Centre Arabe de Recherches et d’Analyses Politiques et Sociales (Arabic center of Social & Political Studies), said yesterday: “a positive atmosphere is ruling the new round of negotiations between Iran and group 5+1. Riadh Sidaoui also mentioned in an interview with Al Mayadeen Tv that it seems this positive atmosphere will lead to final and long term decisions. However, John Kerry, United States Secretary of State, mentioned earlier that there are still significant gaps and Barak Obama is prepared to halt nuclear talks with Iran if Tehran does not agree with conditions which approve its peaceful proposes.

Daily Market News – 21 Feb 2015

by Negar MoshirFatemidate: 21 February 2015in News & Reports No Comments

Iran and the United States have started their new bilateral talks in Geneva from Friday morning. The sanctions and Centrifuges issues are the main subject of this round of the negotiations. The foreign ministers will also join on Sunday. Yesterday, Iran’s foreign minister, Javad Zarif said “from my point of view, we should reach an agreement until June and it’s not convenient to announce a political declaration on June and wait for details later. This would start an open ended process which is beneficial for no one “.

Daily Market News – 17 Feb 2015

by Negar MoshirFatemidate: 17 February 2015in News & Reports No Comments

In addition to the problems arisen for Cement companies caused by the recession and difficulties in sales, another debate has also raised as pollution. All cement production lines in Tehran Cement Company are closed and inactive for development and installation of conditioning and air filtering systems until the further notices. The pervasiveness of this situation will soon face us with discontinuation of production in other companies due to air pollution. Owning 5 production lines with the capacity of 12 thousand and 100 tons per day, the Tehran Cement Co., as the country’s largest cement manufacturers, are located in southeast of Tehran province.

Daily Market News – 16 FEB 2015

by Negar MoshirFatemidate: 16 February 2015in News & Reports No Comments

Mobarakeh Steel Co. released its next year budget. The company’s EPS for next year has been declined by 11 percent to 450 IRR compared with current year budget. There are not much differences between this year and next year budgets and the margin return remained unchanged. It must be noted that the company has considered 35,000 IRR for the US exchange rate which is a reasonable rate for a company with more export than raw materials import. 1 to 3 percent rise in rate of sale was taken optimistically. In general, we could say that the company released a very conservative forecasted report for the next year. Despite of any changes in rate of products, the company has nothing more to offer. By considering today’s share price (1,970 IRR) and next year forecasted EPS, the share is currently trading with 3.6 p/e which is not a good sign. The market which gives such low p/e ratios to its big cap companies has no liquidity and confidence.

Tag : EPS