Category: Articles & Updates

  • Gold Prices in Nepal Experience Decline of Rs. 1,300 per Tola, Reflecting Global Market Trends

    Gold Prices in Nepal Experience Decline of Rs. 1,300 per Tola, Reflecting Global Market Trends


    The price of gold faced a decline of Rs. 1,300 per tola today, as reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association. The present rate for fine gold is recorded at Rs. 1,17,500 per tola, contrasting with the stable rate of Rs. 1,18,800 per tola on Friday. Similarly, Tejabi gold witnessed a decrease to Rs. 1,16,950 per tola today, reflecting a drop of Rs. 1,300 from its Friday rate of Rs. 1,18,250 per tola.

    On December 4, 2023, both fine gold and Tejabi gold had attained record highs of Rs. 1,21,600 and Rs. 1,21,000 per tola, respectively. Additionally, silver observed a decline of Rs. 35 per tola, with the current market rate standing at Rs. 1,425 per tola, compared to the closing rate of Rs. 1,460 per tola on Friday.

    The global downturn in gold prices, now at $2,004.50 per ounce, has notably impacted the domestic bullion market. Simultaneously, the international silver market indicates a trading value of $22.97 per ounce.

  • “Nepal Life Insurance Company Disburses Rs 69.62 Arba in Claims, Demonstrates Efficient Settlement Process”

    “Nepal Life Insurance Company Disburses Rs 69.62 Arba in Claims, Demonstrates Efficient Settlement Process”


    Nepal Life Insurance Company has resolved insurance claims totaling Rs 69.62 Arba as of the end of Ashoj, 2080. The disbursements primarily include death-related claims distributed among 13,512 policyholders and their nominees, encompassing both local and international beneficiaries, with a cumulative payout of Rs 5.68 Arba. The company, aiming for efficiency, has successfully settled 93% of claims by the conclusion of Ashoj. Furthermore, it commits to a swift resolution for accidental death-related claims within 3 working days and other death-related claims within 7 working days, contingent on complete documentation. Notably, the insurer has achieved a commendable record, settling 46% of claims within 3 days, 67% within 7 days, and 81% within 1 month of the comprehensive documentation submission, as highlighted in the media statement.

  • NIC Asia Bank Conducts Auction for Sana Kisan Bikas Laghubitta Promoter Shares

    NIC Asia Bank Conducts Auction for Sana Kisan Bikas Laghubitta Promoter Shares


    “NIC Asia Bank Limited Initiates Auction for SKBBL Promoter Shares”

    Commencing from the 24th of Mangsir to the 29th of Poush, 2080, NIC Asia Bank Limited (NICA) has initiated an auction for the promoter shares of Sana Kisan Bikas Laghubitta Bittiya Sanstha Limited (SKBBL).

    The auction involves 3,92,657 units of SKBBL promoter shares and is open to qualified interested promoter shareholders of Sana Kisan Co-operative and other promoter shareholders. However, the notice stipulates that priority will be given to Sana Kisan Co-operative. The minimum bid rate for the auction is set at Rs. 348, with a minimum bid quantity of 1,000 units for promoter shares.

    While bidders have the option to bid for the entire issue, they are required to adhere to the Nepal Rastra Bank’s regulations, ensuring that the specified quantity of shares per entity is not exceeded. NIC Asia Capital has been appointed as the auction manager for this issue.

    As of the latest update, SKBBL has a Last Traded Price (LTP) of Rs. 881.

  • Nabil Bank Announces Issuance of 9% Nabil Debenture 2087 with Rs. 3 Arba Target

    Nabil Bank Announces Issuance of 9% Nabil Debenture 2087 with Rs. 3 Arba Target


    Nabil Bank Limited (NABIL) has issued an offer letter announcing the issuance of 30,00,000 units of “9% Nabil Debenture 2087” to the general public. The debentures, featuring a maturity period of 7 years and a coupon rate of 9%, will be open for subscription from the 29th of Mangsir to the 3rd of Poush, 2080. In the event of undersubscription, the deadline may be extended until the 13th of Poush, 2080.

    The debentures, valued at Rs. 1000 per unit, will have a total issuance of 30 lakh units. Of this, 60%, equivalent to 18 lakh units, will be subscribed through private placement. The remaining 12 lakh units, amounting to Rs. 1.2 Arba, will be available for public issuance, with 5% of this allocation reserved for mutual funds. The total proceeds from the issuance are expected to reach Rs. 3 Arba.

    Kumari Capital Limited has been appointed as the issue manager for this debenture offering. Interested investors can apply for a minimum of 25 units and a maximum of 12,00,000 units.

    ICRA Nepal has reconfirmed the issuer rating of [ICRANP-IR] AA- – (pronounced ICRA NP issuer rating Double A minus) for Nabil Bank Limited. This rating indicates a high level of safety concerning the timely fulfillment of financial obligations, reflecting a very low credit risk associated with the bank.

  • Gold Prices in Nepal Decline by Rs. 800 per Tola as Global Market Faces Slump

    Gold Prices in Nepal Decline by Rs. 800 per Tola as Global Market Faces Slump


    The price of gold has observed a decline of Rs. 800 per tola today, as reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association. The current value of fine gold is reported at Rs. 1,18,400 per tola, representing a decrease from its stable position the previous day at Rs. 1,19,200 per tola. Simultaneously, Tejabi gold is being traded at Rs. 1,17,850 today, reflecting a reduction of Rs. 800 per tola from its previous rate of Rs. 1,18,650 per tola.

    Contrasting the recent decrease, on December 4, 2023, fine gold had achieved a historic high of Rs. 1,21,600 per tola, and Tejabi gold had surged to Rs. 1,21,000, marking a record at that time.

    Furthermore, silver has also witnessed a decrease of Rs. 20 per tola, with the current market rate standing at Rs. 1,480 per tola, compared to its closing rate of Rs. 1,500 per tola the day before.

    The global decline in gold prices, now at $2,020.50 per ounce, has had a notable impact on the domestic bullion market. Concurrently, silver is being traded at $24.20 per ounce on the international market.

  • Gold Prices in Nepal Experience a Significant Drop of Rs. 2,400 per Tola

    Gold Prices in Nepal Experience a Significant Drop of Rs. 2,400 per Tola


    The price of gold has witnessed a notable decrease of Rs. 2,400 per tola today, as reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association. The current value of fine gold is recorded at Rs. 1,19,200 per tola, representing a decline from its previous day’s stable position at Rs. 1,21,600 per tola. Similarly, Tejabi gold is being traded at Rs. 1,18,650 today, reflecting a decrease of Rs. 2,350 per tola from its yesterday’s rate of Rs. 1,21,000 per tola.

    In contrast to the recent decrease, just a day before, on December 4, 2023, fine gold had achieved a historic high of Rs. 1,21,600 per tola, and Tejabi gold had surged to Rs. 1,21,000, setting a record at that time.

    Additionally, silver has also seen a decline of Rs. 45 per tola, with the current market rate standing at Rs. 1,500 per tola, compared to its closing rate of Rs. 1,545 per tola the day before.

    The global decline in gold prices, currently at $2,031.90 per ounce, has had a significant impact on the domestic bullion market. Simultaneously, silver is being traded at $24.50 per ounce on the international market.

  • Prabhu Insurance Initiates Auction of 19,79,424 Promoter Shares of Nepal Reinsurance Company Limited

    Prabhu Insurance Initiates Auction of 19,79,424 Promoter Shares of Nepal Reinsurance Company Limited


    Prabhu Insurance Limited has initiated an auction for 19,79,424 units of promoter shares belonging to Nepal Reinsurance Company Limited (NRIC). The auction period is set to run from the 19th to the 26th of Mangsir, 2080.

    During this auction, the specified 19,79,424 units of promoter shares of Nepal Reinsurance Company Limited will be available for bidding. Interested promoter shareholders or institutions are invited to participate, with a minimum bid rate of Rs. 280. The bidding parameters for promoters’ shares include a minimum bid quantity of 10,00,000 units and a maximum bid quantity of 19,79,424 units.

    Prabhu Capital Limited is overseeing the auction process as the auction manager. At the time of this report, Nepal Reinsurance Company Limited (NRIC) has a Last Traded Price (LTP) of Rs. 610.

  • Kumari Bank Initiates Auction of 22,000 Promoter Shares: Exclusive Opportunity for Existing Promoter Shareholders

    Kumari Bank Initiates Auction of 22,000 Promoter Shares: Exclusive Opportunity for Existing Promoter Shareholders


    The current promoter of Kumari Bank Limited (KBL) has initiated the auction of 22,000 units of shares, exclusively available to interested existing promoter shareholders starting today. Nagendra Prasad Bimali aims to sell these units to current promoter shareholders, and interested parties are invited to participate in the auction within 35 days from the publication date of this notice, which is the 19th of Mangsir.

    Individuals looking to participate in the auction should submit their bids either at the central office of the bank in Tangal, Kathmandu, or at Kumari Capital Limited located at Naxal, Nagpokhari, Kathmandu. In the absence of bids from existing founder shareholders within the specified timeframe, the shares will subsequently be made available for auction to the general public. As of the last trading day, KBL closed at Rs. 150.40, and KBLPO reported a Last Traded Price (LTP) of Rs. 101.00 as of December 3, 2023.

    In a similar auction notice, the existing promoter of Machhapuchchhre Bank Limited (MBL) is auctioning 62,165 units of shares, available exclusively to interested existing promoter shareholders starting today. Indu Kumari Karki intends to sell these units to current promoter shareholders, and interested individuals are encouraged to bid within 7 days from the publication date of this notice, which is the 19th of Mangsir.

    Bidders for MBL shares should submit their bids at Machhapuchchhre Capital Limited located at Sundhara, Kathmandu. If there are no bids from existing founder shareholders within the stipulated timeframe, the shares will subsequently be open for auction to the general public. MBL closed at Rs. 184.90 on the last trading day, and MBLPO has an LTP of Rs. 136.00 as of May 10, 2023.

  • Citizens Bank International Limited Initiates Auction of Promoter Shares: Exclusive Opportunity for Existing Promoter Shareholders

    Citizens Bank International Limited Initiates Auction of Promoter Shares: Exclusive Opportunity for Existing Promoter Shareholders


    The current promoter of Citizens Bank International Limited (CZBIL) has initiated the auction of 70,490.61 units of shares, exclusively available to interested existing promoter shareholders, starting today.

    Ila Sharma plans to divest 70,490.61 units of promoter shares, and the auction is open exclusively to current promoter shareholders. The minimum bid rate for the auction has been set at Rs. 150. Those interested in participating in the auction are urged to submit their bids within 35 days from the publication date of this notice, i.e., by the 18th of Mangsir.

    To participate, shareholders are required to submit their bids at the central office of the bank, situated at Narayanhiti Path, Kathmandu. In the event that no bids are received from the existing founder shareholders within the stipulated timeframe, the shares will subsequently be made available for auction to the general public.

    As of the last trading day, CZBIL closed at Rs. 162. Additionally, CZBILP reported a Last Traded Price (LTP) of Rs. 108.00 as of October 1, 2023.

     

  • Nepalese Gold Market Hits Record High: Fine Gold Peaks at Rs. 1,21,600 per Tola

    Nepalese Gold Market Hits Record High: Fine Gold Peaks at Rs. 1,21,600 per Tola


    The Nepalese gold market experienced an extraordinary surge, reaching an unprecedented peak on December 4, 2023. The Federation of Nepal Gold and Silver Dealers’ Association reported an astonishing single-day increase of Rs. 800, driving the price of fine gold to an extraordinary level of Rs. 1,21,600 per tola.

    Just a day earlier, on December 3, 2023, fine gold had already achieved a historic high of Rs. 1,20,800 per tola, setting a record at that time. Another coveted variant, Tejabi gold, also witnessed a notable uptick, currently valued at Rs. 1,21,000 per tola, up from its previous rate of Rs. 1,20,200.

    In contrast to the gold rally, the price of silver has remained stable at Rs. 1,545 per tola.

    The surge in gold prices in the domestic market is in line with the global trend, where gold is now priced at $2,088.00 per ounce. This surge has had a significant impact on the domestic bullion market. Concurrently, silver is being traded at $25.47 per ounce on the international market.

  • People’s Power Limited Announces 50% Right Share Issuance for Capital Expansion and Project Development

    People’s Power Limited Announces 50% Right Share Issuance for Capital Expansion and Project Development


    In accordance with the decision made during the Board of Directors meeting of People’s Power Limited (PPL), the company has resolved to issue right shares at a ratio of 1:0.5, equivalent to 50% of the existing shares.

    The decision, made during the meeting held on Mangsir 17, entails the issuance of 50% right shares based on the current paid-up capital of Rs. 63.26 Crores. Consequently, upon the issuance of 31,63,000 units of right shares, the company’s paid-up capital will be revised to Rs. 94.89 Crores.

    The company has expressed its intention to utilize the funds raised for various purposes, including ongoing project maintenance, resolving payment discrepancies, exploring new projects, identifying investment opportunities, creating employment, and contributing to national capital through equity rights. However, it’s important to note that the issuance of these right shares is subject to approval from regulatory bodies, particularly the Electricity Regulatory Commission.

    As of the latest available information, PPL concluded its last trading day at Rs. 214.20.

  • Sunrise Capital’s Mutual Funds Report Declines in NAV for Kartik

    Sunrise Capital’s Mutual Funds Report Declines in NAV for Kartik


    Sunrise First Mutual Fund (SFMF) has disclosed its monthly Net Asset Value (NAV) report for Kartik, indicating a NAV of Rs. 10.62, a slight decrease from the previous month’s Rs. 10.70. The closed-end fund, with a 10-year maturity, began with Rs. 86 crores and has invested in listed shares, bonds, debentures, public issues, rights issues, bonus shares, and fixed deposits. SFMF’s bank balance is reported at Rs. 8.37 crores, and it recorded a net loss of Rs. 95.26 lakhs in Kartik, compared to a net loss of Rs. 27.24 lakhs in the previous month.

    Similarly, Sunrise Focused Equity Fund (SFEF), another closed-end fund with a 10-year maturity, shared its monthly NAV report for Kartik, revealing a NAV of Rs. 9.63, slightly lower than the previous month’s Rs. 9.65. With a fund size of Rs. 1 Arba, SFEF invested in listed shares, public issues, and fixed deposits. The fund’s bank balance is reported at Rs. 21.54 crores, and it incurred a net loss of Rs. 5.10 crores in Kartik, compared to Rs. 4.81 crores in the previous month.

    Sunrise Capital Limited also released the NAV report for “Sunrise Bluechip Fund (SBCF),” which commenced with a fund size of Rs. 1.25 Arba. SBCF reported a NAV of Rs. 9.26 for Kartik, slightly down from the previous month’s Rs. 9.33. The fund invested in listed shares, debentures, public issues, and fixed deposits, with a bank balance of Rs. 14.13 crores. SBCF recorded a net loss of Rs. 20.79 crores in Kartik, compared to Rs. 19.90 crores in the previous month.