Author: Earnmoney.com.np

  • “Inland Revenue Department (IRD) Falls Short of Revenue Target, Collecting Rs. 4 Kharba 80 Arba in Last Fiscal Year”

    “Inland Revenue Department (IRD) Falls Short of Revenue Target, Collecting Rs. 4 Kharba 80 Arba in Last Fiscal Year”


    The Inland Revenue Department (IRD) faced a shortfall in revenue collection for the last fiscal year, collecting a total of Rs. 4 Kharba 80 Arba. This amount fell 23 percent below the target set at Rs. 6 Kharba 26 Arba. Furthermore, the revenue collected was Rs. 3 Arba less than the previous year’s collection (2078/79).

    Throughout the fiscal year, the department struggled to meet its revenue targets. Even in the month of Ashad, revenue collection fell short compared to the previous year, with only Rs. 72 Arba collected as opposed to the previous year’s Rs. 73 Arba.

    By the end of Jestha, the department had collected Rs. 4 Kharba 8 Arba, falling short by Rs. 2 Arba compared to the previous fiscal year. Despite this, it was significantly below the revenue target set for the year.

    The lower revenue collection was primarily attributed to reduced earnings from banks, financial institutions, alcohol, and automobile dealers compared to the previous year. The department faced challenges in meeting revenue targets since the month of Shrawan, with each subsequent month falling short of the set targets.

    For instance, in Poush, the department collected only Rs. 71.31 Arba, which was far below the target of Rs. 1 Kharba 6 Arba. Similarly, in Chaitra, the collection amounted to only Rs. 55.2 Arba, while the target was set at Rs. 83.75 Arba.

    Overall, the Inland Revenue Department managed to collect approximately 77 percent of the targeted revenue, resulting in a shortfall of Rs. 3 Arba compared to the previous fiscal year’s collection.

  • “NEPSE Index Soars by 47.07 Points, Closing at 2,144.16 in Today’s Trading Session”

    “NEPSE Index Soars by 47.07 Points, Closing at 2,144.16 in Today’s Trading Session”


    “NEPSE Index Surges by 47.07 Points, Closing at 2,144.16 in Today’s Trading Session”

    In today’s trading session, the NEPSE index showed a significant gain of 47.07 points or 2.24% compared to the previous trading day’s closing. This follows a surge of 12.16 points experienced in the index yesterday.

    The trading day began with the index opening at 2,097.99 and witnessed fluctuations throughout. It reached an intraday low of 2,089.16, indicating some downward momentum, but also achieved an intraday high of 2,144.60 before settling at its closing value of 2,144.16.

    A total of 257 scrips were exchanged through 50,299 transactions during the day’s trading. The volume of shares traded amounted to 7,634,190, resulting in a turnover of Rs. 2.56 Arba.

    Among the stocks, SHIVAM CEMENTS LTD (SHIVM) had the highest turnover, with a value of Rs. 14.86 crores, and closed at a market price of Rs. 662. The shares of PRSF recorded the highest trading volume.

    In terms of individual stock performance, BPW Laghubitta Bittiya Sanstha Limited (BPW) recorded the highest gain of 10%, while United Ajod Insurance Limited (UAIL) rose by 9.99%, reaching the positive circuit for the day. On the other hand, Kumari Dhanabriddhi Yojana (KDBY) experienced the highest decline of 8.37%.

    In terms of sector indices, only the “Mutual Fund” sector closed in the red, with a decline of 0.49%. The “Development Bank” sector showed the highest gain, increasing by 4.14%, while the “Others” sector experienced the smallest gain of 1.32%.

    Overall, the NEPSE index witnessed a significant surge in today’s trading session, accompanied by notable individual stock performances and sector movements.

  • Listing of 3,29,959.37 Unit Bonus Shares of Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) on NEPSE

    Listing of 3,29,959.37 Unit Bonus Shares of Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) on NEPSE


    A total of 3,29,959.37 unit bonus shares of Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) have been listed on the Nepal Stock Exchange (NEPSE). This listing marks the inclusion of the bonus shares in the trading system.

    During the company’s 4th Annual General Meeting held on 28th Chaitra, a dividend of 7.3684% was endorsed for the fiscal year 2078/79, amounting to Rs. 3.47 crores. This dividend was approved from the company’s paid-up capital of Rs. 47.13 crores. The decision made during the 112th board of directors meeting held on Falgun 09 included the distribution of 7% bonus shares worth Rs. 3.29 crores and a cash dividend of 0.3684% (for tax purposes) worth Rs. 17.36 lakhs.

    KLBSL’s last closing price on the previous Thursday was recorded at Rs. 710. This provides an indication of the company’s stock performance in the market.

    In summary, 3,29,959.37 unit bonus shares of KLBSL have been listed on NEPSE. The company’s 4th AGM endorsed a dividend of 7.3684%, which includes bonus shares and cash dividend. KLBSL’s last recorded closing price was Rs. 710.

  • Ghorahi Cement Industry Limited Concludes IPO Allotment, Reissues Shares to Public

    Ghorahi Cement Industry Limited Concludes IPO Allotment, Reissues Shares to Public


    The IPO allotment of Ghorahi Cement Industry Limited took place at the premises of Nabil Investment Banking Limited in Naxal, Kathmandu. The company had initially issued 69,11,670 units of IPO shares at a price of Rs. 435 per unit (including a premium of Rs. 335) to the general public on Jestha 32, 2079.

    However, the IPO faced a temporary setback when the issue was paused due to investors applying for shares without having sufficient funds. After conducting a thorough investigation, the company took transparent and corrective measures. As a result, Ghorahi Cement Industry Limited has decided to re-issue the 69,11,670 units of IPO shares to the general public from the 22nd to the 25th of Ashad, 2080.

    The company has a total issued capital of Rs. 3.97 Arba, out of which 20% (79,43,801 unit shares) was set aside for the public, including locals, Nepalese citizens working abroad, and the general public. Additionally, 1% (397,190 unit shares) were issued to project-affected locals of Dang District, and 7,54,661 unit shares were issued to Nepalese citizens working abroad starting from 18th Baisakh.

    Out of the shares issued to project-affected locals, only 77,290 shares were allotted to valid applicants. The public issue for Nepalese migrant workers was undersubscribed by 19.65% or 148,311 units. Consequently, the unsubscribed shares were added to the shares reserved for the general public.

    According to the offer letter, out of the total issued capital, 79,43,801 unit shares (20%) were allotted to the project-affected locals, 606,350 units were allotted to Nepalese citizens working abroad, 328,961 units were set aside for mutual funds, and 19,530 units were reserved for the company’s employees. The remaining shares, after all previous allotments and reservations, amount to a total of 69,11,670 units and are available for the general public.

    The IPO received applications from 5,57,701 valid applicants, who applied for a total of 77,93,710 units, resulting in oversubscription by more than 1.12 times.

    In summary, Ghorahi Cement Industry Limited concluded its IPO allotment and has decided to reissue the shares to the general public. The company faced initial challenges due to insufficient funds from investors but has taken corrective measures. The IPO received significant interest from valid applicants, oversubscribing the issue.

  • NEPSE Index Closes at 2,097.09, Recording Gain of 12.16 Points on Last Trading Day of Fiscal Year 2079/80

    NEPSE Index Closes at 2,097.09, Recording Gain of 12.16 Points on Last Trading Day of Fiscal Year 2079/80


    The fiscal year 2079/80 concluded with the NEPSE Index closing at 2,097.09 on the last trading day. This marked a gain of 12.16 points compared to the previous trading day’s closing value. Throughout the fiscal year, the NEPSE index exhibited volatility, as it rebounded by 281.95 points from a recent low of 1,815.14 to its closing value of 2,097.09.

    Despite this recovery, the NEPSE index remains 34.44% below its all-time high, which was recorded on August 18, 2021. This indicates that there has been a significant decline from the peak level reached. The fluctuations in the NEPSE index reflect the changing market conditions and investor sentiment during the fiscal year.

    To summarize, the NEPSE index closed at 2,097.09 on the final trading day of the fiscal year 2079/80, showing a modest gain of 12.16 points. Although the index experienced volatility, recovering from a recent low, it is still significantly lower than its all-time high, reflecting a decrease of 34.44%. These fluctuations highlight the dynamic nature of the market and the challenges faced by investors during the fiscal year.

  • Successful Merger of United Insurance Company (Nepal) Limited and Ajod Insurance Limited: Listing of United Ajod Insurance Limited on NEPSE

    Successful Merger of United Insurance Company (Nepal) Limited and Ajod Insurance Limited: Listing of United Ajod Insurance Limited on NEPSE


    United Ajod Insurance Limited, following the successful merger between United Insurance Company (Nepal) Limited and Ajod Insurance Limited, has listed a total of 1,90,45,680 shares on the Nepal Stock Exchange (NEPSE).

    The merger agreement was signed by UIC and AIL on Poush 27, 2079. The companies agreed on a swap ratio of 82.50:100, meaning that AIL shareholders’ number of shares would decrease by 17.5% in the newly merged company. Prior to the merger, AIL and UIC had respective share capitals of Rs. 1 Arba and Rs. 1.07 Arba. However, post-merger, the combined share capital of United Ajod Insurance Limited reached Rs. 1.90 Arba.

    Following the successful merger, UIC and AIL initiated joint transactions under the name “United Ajod Insurance Limited” on Jestha 14, 2080. The opening price range for the initial transactions was set at Rs. 489.49 per share. This marked the commencement of operations for the merged entity, which now operated as a unified entity under the name United Ajod Insurance Limited.

    In summary, the merger between United Insurance Company (Nepal) Limited and Ajod Insurance Limited has led to the listing of 1,90,45,680 shares of United Ajod Insurance Limited on NEPSE. The merger was executed based on a swap ratio of 82.50:100, resulting in a combined share capital of Rs. 1.90 Arba. The joint transactions under the name United Ajod Insurance Limited commenced with an initial open price range of Rs. 489.49 per share.

  • Decrease in Interbank Interest Rate Indicates Heightened Liquidity in Nepal’s Banking System

    Decrease in Interbank Interest Rate Indicates Heightened Liquidity in Nepal’s Banking System


    The banking sector in Nepal has recently witnessed a decrease in the interbank interest rate, indicating an increase in liquidity within the system. According to data provided by Nepal Rastra Bank, the interbank interest rate of banks has fallen below 1 percent. Specifically, on Ashad 27, the interbank interest rate remained stable at 0.83 percent.

    In parallel, the average Cash Deposit (CD) ratio experienced a decline on Ashad 27, reaching 81.67 percent compared to the 82.11 percent recorded on Ashad 25. This decline in the CD ratio can be attributed to the infusion of an additional Rs. 23 Arba into the banking system.

    As of Ashad 25, the total deposits held by banks and financial institutions amounted to Rs. 57.13 Kharba. By Ashad 27, this figure had increased to Rs. 57.36 Kharba. Moreover, the credit investment by banks stood at Rs. 48.51 Kharba.

    Overall, these developments indicate a higher level of liquidity within the banking sector in Nepal, reflected by the decrease in interbank interest rates and the rise in total deposits. This increased liquidity provides potential opportunities for financial institutions to support credit investment and drive economic growth.

  • Gold Price Surges by Rs. 800 per Tola in the Domestic Market; Silver Also Rises by Rs. 40 per Tola

    Gold Price Surges by Rs. 800 per Tola in the Domestic Market; Silver Also Rises by Rs. 40 per Tola


    Today, the price of gold has experienced an increase of Rs. 800 per tola in the domestic market. As reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is currently being traded at Rs. 112,400 per tola, whereas yesterday it was maintained at Rs. 111,600 per tola. Tejabi gold, on the other hand, is being traded at Rs. 111,850 today, compared to yesterday’s rate of Rs. 111,050 per tola.

    In addition, the price of silver has also seen a rise of Rs. 40 per tola. The shiny white metal is currently being traded at Rs. 1,440 per tola in the local market, whereas the closing rate yesterday stood at Rs. 1,400 per tola.

    It is worth noting that in the international market, the current price of gold stands at USD $1,956.10 per ounce, while silver is being traded at $24.17 per ounce.

  • Barun Hydropower Company Limited (BARUN) Calls Special General Meeting to Discuss 1:1 Rights Offering and Amendments

    Barun Hydropower Company Limited (BARUN) Calls Special General Meeting to Discuss 1:1 Rights Offering and Amendments


    Barun Hydropower Company Limited (BARUN) has announced its plans to hold a Special General Meeting (SGM) on the 14th of Shrawan, 2080. The meeting is scheduled to take place at Lord Party Venue in Dhumbarahi and will commence at 1 pm.

    During the SGM, BARUN will propose a 1:1 ratio rights offering, equivalent to 100% of the company’s paid-up capital, which currently stands at Rs. 53.58 Crores. It is important to note that the issuance of these right shares is subject to approval from the regulatory bodies. If approved, the issuance will result in an increase in the company’s paid-up capital to Rs. 1.07 Arba.

    Considering the potential increase in the company’s capital after the issuance of the right shares, the SGM will also address the need for amending relevant sections of the Articles of Association. The purpose of these amendments is to align the Articles of Association with the updated capital structure. Furthermore, the shareholders will be asked to grant full authority to the Board of Directors (BoDs) to carry out the necessary work related to the amendments, as guided by the regulatory board.

    It should be noted that the book closure date for the SGM is set for Shrawan 05. Shareholders who maintain their ownership before this date will be eligible to attend the meeting and participate in the decision-making process.

  • Ngadi Group Power Limited (NGPL) Calls Special General Meeting (SGM) to Discuss Right Shares and Other Agendas

    Ngadi Group Power Limited (NGPL) Calls Special General Meeting (SGM) to Discuss Right Shares and Other Agendas


    Ngadi Group Power Limited (NGPL) has scheduled a Special General Meeting (SGM) to take place on the 14th of Shrawan, 2080. The meeting will be held at Lord Party Venue in Dhumbarahi and is set to commence at 10 am on that day.

    The SGM will address several important agendas, including the endorsement of 100% right shares based on the company’s current paid-up capital of Rs. 1.85 Arba. Another item on the agenda is the proposed change in the company’s location, which will require amending the Articles of Association subsequent to the issuance of the right shares. The shareholders will be asked to grant full authority to the Board of Directors (BoDs) to execute the necessary actions related to these amendments in accordance with the guidance provided by the regulatory board. Additionally, the meeting will discuss the repayment of debt incurred by the company.

    It is important to note that the book closure date is set for Shrawan 04. Shareholders who maintain their ownership before this date will be eligible to attend the SGM.

  • Arun Valley Hydropower Development Company (AHPC) Receives Final Approval for 1:1 Right Share Issuance

    Arun Valley Hydropower Development Company (AHPC) Receives Final Approval for 1:1 Right Share Issuance


    Arun Valley Hydropower Development Company Limited (AHPC) has received the final approval from the Electricity Regulatory Commission to issue right shares to its shareholders at a ratio of 1:1. This decision was made during the Special General Meeting (SGM) held on Ashad 07, where 100% rights shares were endorsed for distribution among the shareholders. The proposal for issuing these right shares was initially put forward during the Board of Directors meeting held on Baisakh 06.

    The approved plan entails issuing a total of 18,679,626 right shares with a par value of Rs. 100 each, amounting to a total value of Rs. 1.86 Arba. Out of this amount, AHPC intends to invest 50% of the issued right shares, equivalent to 9,339,813 unit right shares valued at Rs. 93.39 crore, in the Likhu Khola Hydropower Project (30 MW) developed by PK Hydropower Pvt. Ltd. The remaining 9,339,813 unit shares, also valued at Rs. 93.39 crore, will be utilized to repay the loan obtained by AHPC for the Kabeli ‘B’-1 Cascade Hydropower Project in Panchthar.

    It should be noted that the issuance of these right shares is subject to the approval of the Securities Board of Nepal (SEBON). AHPC will proceed with issuing the right shares to its shareholders once the necessary approval is obtained. As of the time of writing, AHPC’s Last Traded Price (LTP) stands at Rs. 263.90.

  • Radhi Sana Hydropower Project’s 4.4 MW Capacity Put on Hold Due to Flood Damage

    Radhi Sana Hydropower Project’s 4.4 MW Capacity Put on Hold Due to Flood Damage


    The Radhi Sana Hydropower Project, with a capacity of 4.4 MW and owned by Radhi Bidyut Company Limited (RADHI), has come to a halt due to flooding. The recent flood and landslide on Ashad 22 caused significant damage to the project’s headworks and head race pipe, resulting in the suspension of energy production.

    Located in the Lamjung district of the Gandaki Province in Nepal, the Radhi Sana Hydropower Project operates as a run-of-the-river (R-o-R) type project. It was designed with a 40% probability of exceedance (Q40). Although the project was scheduled for commercial operation by April 13, 2013, it faced delays and was finally commissioned on June 14, 2014, approximately a year later than the required commercial operation date (RCOD).

    Unfortunately, the recent flood has caused significant damage to the project’s infrastructure, leading to a temporary halt in energy generation. The company is likely assessing the extent of the damage and will need to undertake necessary repairs before resuming operations.

    The interruption in the Radhi Sana Hydropower Project’s functioning is a setback for the company, as it impacts their ability to contribute to the local energy grid and meet the region’s power demands. Efforts will now be focused on restoring the damaged components and ensuring the project can resume its operations as soon as possible, providing clean and sustainable energy to the area once again.