While the Stock Exchange Index closed the day with a drop of 1.21%, sales intensified after the CBRT decision. We observed that sales were intense, mainly in the Banking and Aeronautical sectors. While the banking index fell 2.4% in second place, the first sector was transport with 2.7%. Profit sales may have been effective in this after the recent surge in aviation stocks. However, the macro-prudential measures that may be taken, as set out in the text of the CBRT decision on the banking index, may have raised concern that new pressures will arise on lending.
The new value-based application announced in home loans may have been priced in advance in the market and this may have put pressure on banks. The banking index is still above the 50-day average. For XBANK, the 50-day average in 2100 will be seen as an important support. If it drops below that level, selling pressure could build up on banks. However, we are not at this point yet. Today we will see if there will be a reaction after yesterday’s sales.
Official statements indicate that additional macroprudential measures could be announced in the coming days. Measures similar to the asset ratio applied in the past can create regulatory pressure on bank actions in this period, as they did in that period. We will see this more clearly in the coming days.
Although the BIST100 index still maintains its strong position technically, the loss of momentum is clearly seen. The 22 and 50-day averages at the 2540 and 2490 levels respectively will be our important support points for the index. On the other hand, the XYUZO index, which was expressed as 100-30 yesterday, ended the day in the positive zone. We saw that buyers focused on non-BIST30 BIST100 stocks. On the other hand, the actions of the Paperboard and Food sectors showed strong evolution. Today, the positive trends in inventories in this sector may continue.
We can see a reaction today due to the close close to the 22-day average in the BIST100 index. After a positive opening, movements in banking stocks appear to be decisive.
TCELL: Doğan Dağıtım Satış Pazarlama Matbaacılık Üretim A.Ş. (current title Demirören Dağıtım Satış Pazarlama Matbaacılık ve Tahsilat Sistemleri A.Ş.) against our Company for the collection of financial compensation in the amount of 110.5 million TL, with compensation and interest that will be appreciated up to 3 times, for alleged violation competition legislation. At the hearing of this action on 22 June 2022, the court decided to partially accept the case and pay the claimant a loss of 71.9 million TL, totaling 215.6 million TL, calculated at 3 times the discretion under the art. Law on the Defense of Competition, together with the rediscount interest to be calculated from the date of the action; for the rest, the case was dropped. The reasoned decision has not yet been notified to our Company and judicial remedies have not yet been exhausted. Upon notification of the reasoned decision, our Company will apply to the higher court and all necessary legal remedies in relation to this lower court decision, which contains obvious violations of law.
DOCO: DO & CO Aktiengesellschaft announces its notification of Universal-Investment-Gesellschaft mit beschränkter Haftung. (Statement in accordance with the Austrian Capital Markets Act)
VETL: Based on our Public Disclosure Platform dated 04.13.2022, the issuance document and signed application form, whose approval was announced in the Capital Markets Council bulletin n. signed application form, are attached. (The relevant annex is available on the KAP)
CONTR: Escar Turizm Taşımacılık A.Ş. “Mint Electric Vehicle Technologies Inc.” to operate in electric vehicle rental and technology sharing, joining forces with It was announced that our Board of Directors has taken a decision on the creation of a company with a capital of 20 Million TL and a partnership of 40% Escar and 40% Controllmatik. The company in question, with its updated shareholding structure, “Mint Elektrik Araç Teknolojileri A.Ş.” and was registered by the Commercial Registry Board on 06.22.2022 and announced in the Trade Registry Gazette of 06.22.2022 and numbered 10604.
YEOTK: A contract was signed between our company and a customer abroad for the turnkey electrical, automation and mechanical work of the pumping station as part of the irrigation project. All design, design, supply, installation and commissioning services will be done by us. The value of the contract is 2,398,000 Euros.
KRTEK: The credit rating agency JCR Eurasia Rating has rated our company at the “Investment Grade” level, assigning the National Long-Term Credit Rating ‘A (Tr)’, the National Short-Term Institution Credit Rating for J1 (Tr)’ and the above-mentioned degrees. determined as ‘Stable’. On the other hand, our Company’s Long-Term International Foreign Currency and Long-Term International Local Currency Institution Credit Ratings were determined to be ‘BB/Stable.
SASA: In accordance with the decision of our Board of Directors of 16.02.2022, Girişim Elektrik Sanayi Taahhüt ve Ticaret A.Ş. to establish a rooftop self-consumption solar power plant (GES) on the roofs of buildings in Adana downtown area in order to reduce our carbon footprint and comply with the Paris Climate Agreement (COP26). . The Engineering, Equipment Supply, Installation and Commissioning Contract was signed on 06.23.2022. The contract value is 11,350,000 USD (eleven million, three hundred and fifty thousand USD), excluding taxes. Approximately 4% to 5% of our company’s current annual electricity consumption is planned to be supplied from said plant.
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