“It’s expected that the exchange prices turn to a single exchange rate in the Petrochemical Industry soon “The CEO of the National Petrochemical Co. said. Existence of two official and free float exchange rates has made so many problems for this industry. He mentioned that some of the petrochemical complexes have no willingness for selling their products to other domestic companies with official exchange rate since they are able to export with higher free rates. However, during the meeting between Seyf, the chief of central bank of Iran, and PMs ; last night, some issues of the exchange market were discussed in order to support the domestic producers, and Seyf clarified that “at this moment with regard to the nation’s economic situation, having a single exchange rate is not possible”.
Glass & Gas Co. released its 3Q2014 report and FY2015 forecasted budget. The 2015 EPS has been increased by 14 percent compared with last year. In FY2015 budget the financial costs decreased compared with last year. In 9 months period the company covered 76 percent of its forecasted EPS for FY2014 which was estimated 581IRR. Based on company’s board announcement, 551 IRR is considered as 2014 cash dividend.
TSE at Glance
IFB at Glance
Trading Halts & Delays
The market correction was expected and almost all the sector experienced 8 to 10 percent decline. For now more stable price are anticipated. If the neutral trend continues for a period of time then a new wave can be started.
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