While closing the oil refinery shares during the last year led to the virulent experience for their shareholders, halting the share trades of Bandar Abbas, Tehran and Isfahan Oil Refinery companies during the last two trading sessions brought more concerns to this sector again. Adjusting the forecasted EPS and releasing their 2015 budget reports are announced as their closing reason. Although in general circulation there is rumor of over 20 percent positive EPS adjustment for Isfahan, the oil product sector is still the biggest loser among others. This sector recorded 32 percent loss during the last month.
Parsian Oil and Gas Development Co. (Parsan) released its forecasted EPS for FY2015 ending 22 Sep 2015. The company’s income in 6 months period ending 20 Mar 2015 has decreased significantly compared with same period last year. Based on this report, the forecasted EPS is announced 840 IRR which has remained unchanged compared with previous reports. In this report the operating income has also declined. The CEO of the company clarified that this reduction was due to changing the company’s financial year from December to September, while the financial year of most of the Parsan’s subsidiaries are on March. Therefore, no profit is recognized from their activities on 6 months period. He believes after holding the subsidiaries general meetings, Parsan will be able to recognize at least 90 % of its forecasted EPS.
Housing Investment Co. reduces its forecasted EPS for FY2015 after recognizing loss on the first 6 months period. In company’s 2Q2015 report, the overall income has decreased by 97 percent to 6 IRR bn compared with same period last year. The company recognized (179) IRR loss per share in 6 months period while, this number was (27) IRR loss same period last year. Based on this report the company adjusted its FY2015 forecasted EPS negatively from 152 IRR to 148 IRR.
Gardeshgari bank (Tourism Bank) releases its audited report for FY2014 ending 20 DEC 2014. The bank with capital of 6,000 IRR bn made only 25 IRR profit for each share while, the FY2013 EPS with capital of 4,000 IRR bn was 172 IRR. By considering the new capital the banks FY2014 EPS is adjusted to 114 IRR. Therefore, the company’s profit for Fy2014 has dropped by 78 percent compared with a year before. The bank’s income and total costs have decreased respectively by 27 and 9 percent compared with FY2013.
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Bearish trend during the past few days reduced the sales pressure on big market cap companies. Drop of value and volume of trades also represent the disinclination of market for selling on negative percentages. Although staying at current prices can stabilize the overall trend, controlling the market with bulk trades can influence the market negatively.
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