Category: Articles & Updates

  • Himalayan Laghubitta Bittiya Sanstha (HLBSL) Alters Ownership Structure with Conversion of Promoter Shares to Public Shares

    Himalayan Laghubitta Bittiya Sanstha (HLBSL) Alters Ownership Structure with Conversion of Promoter Shares to Public Shares


    A significant development has occurred with Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL), where 287,836 units of the company’s promoter shares have recently been transformed into public shares. This transformation has altered the ownership structure of HLBSL, resulting in a new ratio of 51% promoter shares to 49% public shares.

    To provide a clearer picture of the company’s shareholding, HLBSL currently has a total of 3,198,182 units of shares listed on the Nepal Stock Exchange (NEPSE). Prior to this change, the share distribution was such that the promoters held 60% of the company’s shares, equivalent to 1,918,909 units, while the remaining 40% was in the hands of the public, amounting to 1,279,273 units. Following the recent conversion, the ownership structure now consists of 51% promoter shares, totaling 1,631,073 units, and 49% public shares, totaling 1,567,109 units.

    As of the last reported data, HLBSL’s closing stock price stood at Rs. 616 on the previous Wednesday.

  • Domestic Gold Prices Surge by Rs. 600 per Tola, Silver Also Rises in Nepali Market

    Domestic Gold Prices Surge by Rs. 600 per Tola, Silver Also Rises in Nepali Market


    In the domestic market today, the price of gold has seen a notable increase, surging by Rs. 600 per tola. The official website of the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) reports that fine gold is currently being traded at Rs. 111,800 per tola, marking a significant rise from yesterday’s rate of Rs. 111,200 per tola. Likewise, Tejabi gold is now valued at Rs. 111,250 per tola, as opposed to the previous day’s rate of Rs. 110,650 per tola.

    In addition to the increase in gold prices, silver has also experienced a modest uptick, rising by Rs. 10 per tola. Presently, silver is being traded in the local market at Rs. 1,395 per tola, whereas it closed at Rs. 1,385 per tola the day before.

    It’s worth noting that the current international rates for these precious metals stand at USD $1,915.40 per ounce for gold and $22.90 per ounce for silver. These fluctuations in gold and silver prices can have implications for investors and consumers alike, and they often reflect broader economic trends and market dynamics.

  • Himalayan Capital Allots ‘Himalayan 80-20’ Mutual Fund Scheme

    Himalayan Capital Allots ‘Himalayan 80-20’ Mutual Fund Scheme


    Himalayan Capital Limited, the issue manager for the “Himalayan 80-20” MF scheme’s IPO, has announced the completion of allotment for the 85 million units made available to the general public. Initially, Himalayan Capital had offered 10 million units valued at Rs 1 billion, priced at Rs 10 per unit. Out of this total, 15 percent (15 million units) were reserved for the promoter, Himalayan Bank, while the remaining 85 million units were open to the general public.

    The “Himalayan 80-20” plan allocates 80 percent of the capital to long-term investments with compounding returns in the capital and financial market. The remaining 20 percent is actively managed based on market dynamics to maximize returns. This investment strategy is supervised by experienced fund managers at Himalayan Capital Limited.

     

  • Gold Drops Rs. 800 per Tola, Silver Down by 15 Rupees

    Gold Drops Rs. 800 per Tola, Silver Down by 15 Rupees


    The price of gold saw a decrease of Rs. 800 per tola (fine gold) compared to Tuesday’s trading. Today, fine gold is valued at Rs. 1,11,200 per tola, while tejabi gold is priced at Rs. 110,650. In contrast, on Tuesday, fine gold was at Rs. 1,12,000 per tola, and tejabi gold was at Rs. 1,11,450.

    Similarly, the price of silver also dropped by 15 rupees, bringing today’s rate to Rs. 1,390 per tola. In comparison, Tuesday had a silver price of Rs. 1,405 per tola.

     

  • “Deadline Extended for 1:0.50 Rights Offering by Synergy Power Development”

    “Deadline Extended for 1:0.50 Rights Offering by Synergy Power Development”


    Synergy Power Development Limited (SPDL) has decided to extend the deadline for its rights offering. The rights offering commenced on the 3rd of Bhadra, 2080, and was initially set to conclude on the 24th of Bhadra. However, the company has now extended the deadline to the 31st of Bhadra, 2080.

    In this rights offering, SPDL is issuing 50% right shares, valued at Rs. 40.32 Crores, by issuing 4,032,875 units of right shares to its existing shareholders. Currently, the company’s paid-up capital stands at Rs. 80,65,75,000. Following the adjustment of the proposed right shares, the paid-up capital of the company will increase to Rs. 120.98 crores.

    Sanima Capital Limited has been appointed as the issue manager for this right share offering.

    Earlier, SPDL had announced the book closure date for the rights offering, which was Shrawan 12. Shareholders who held shares before that date are eligible to apply for the rights offering.

     

  • “Government Permits 60% of Local-Level Funds as Bank Deposits”

    “Government Permits 60% of Local-Level Funds as Bank Deposits”


     

    The government is planning to allow 60 percent of the funds accumulated at the local level to be recognized as deposits. The Ministry of Finance has made this decision and is set to send a letter to the Nepal Rastra Bank on Friday. The Nepal Rastra Bank, starting today, is preparing to issue directives that will enable banks to consider 60 percent of the funds held at the local level as deposits.

    In the month of Asar, there was approximately 1 kharba 10 Arba in the reserve fund at the local level, with 66 percent of that amount totaling about 66 arba. As a result of this decision, it is anticipated that deposits in commercial banks will increase by more than 60 arba. This move aims to boost the liquidity and financial stability of local governments and commercial banks.

  • “Advanced Automobiles Partners with Sanima Bank for Affordable Renault Vehicle Loans”

    “Advanced Automobiles Partners with Sanima Bank for Affordable Renault Vehicle Loans”


    Advanced Automobiles, the official distributor of Renault in Nepal, has entered into an auto loan partnership with Sanima Bank. This collaboration comes as the festive season approaches and the highly anticipated NADA Auto Show draws near. The primary aim of this agreement is to offer vehicle loans to Nepali customers at reduced interest rates.

    The agreement was formalized through a signing ceremony involving Mr. Adhir Kumar Shrestha, General Manager of Advanced Automobiles Pvt Ltd, and Mr. Vishal Dahal, Head of Retail Lending Department at Sanima Bank Limited.

    As part of this arrangement, individuals interested in purchasing Renault’s Kwid, Triber, and Kiger models can access financing options with favorable terms through Sanima Bank. These financing facilities will be accessible not only at Renault’s authorized dealerships nationwide but also at nearby Sanima Bank branches, providing convenience to potential buyers.

     

  • “Nepal Life Insurance Partners with Red Cross for Dudhkunda Health Camp”

    “Nepal Life Insurance Partners with Red Cross for Dudhkunda Health Camp”


    Nepal Life Insurance, in collaboration with the Nepal Red Cross Society, conducted a free primary health camp at Dudhkunda in Solukhumbu district. This remote location sits at an elevation of 4,632 meters above sea level. The health camp was held from Shrawan 11 to 14, 2080, primarily aimed at providing essential medical services to pilgrims.

    During the event, a total of 422 individuals were able to directly benefit from the healthcare services provided at the camp. This initiative demonstrates Nepal Life Insurance’s commitment to promoting health and well-being, especially in challenging and high-altitude environments like Dudhkunda.

     

  • Nepal and India Launch Cross Border QR Payments for Seamless Digital Transactions

    Nepal and India Launch Cross Border QR Payments for Seamless Digital Transactions


    Fonepay Payment Service Ltd, Nepal’s Largest Payment Network and NPCI International Payments Ltd (NIPL), the international arm of the of the National Payment Corporation of India, is now ready to launch the first Cross Border QR Payment between Nepal and India. This historic unveiling took place at the Global Fintech Fest 2023, a global gathering of fintech visionaries, thought leaders and innovators.

    Seamless Payments Across Stores Using QR Codes

    This collaboration between Fonepay and NIPL will empower millions of citizens of both nations, to securely and conveniently make instant payments through QR code across various stores by using the mobile application certified by Fonepay and NPCI.

    Both companies have now completed operational preparations and technological integration is in final process after which the companies can offer the service to their issuing and acquiring members and enable their consumers and merchants to enjoy the service. The strategic partnership between the two companies will provide a considerable boost to the digital payments’ ecosystem in both countries and will prove to be a major steppingstone for wider reach in the international market.

    Enhancing Connectivity and Fostering Prosperity

    Chairperson of Fonepay and President of F1Soft Group, Mr. Biswas Dhakal, said, “This remarkable launch marks a significant step towards enhancing financial connectivity between Nepal and India by leveraging technology for the benefit of our citizens. I am confident that this initiative will significantly contribute to the growth of trade, tourism, and economic relations between both countries, ultimately fostering prosperity and development.”

    Commitment to Fintech Innovation and Collaboration

    Speaking on the same occasion, NIPL said*, “This initiative signifies our commitment to fintech innovation and strengthening our nations’ bonds. We envision this partnership as a catalyst for greater financial inclusion and economic prosperity and are excited to embark on this journey of transformation together with Fonepay.”

  • Samsung prepares to launch 5G technology in Nepal, aiming to provide fast and reliable mobile internet through the new network

    Samsung prepares to launch 5G technology in Nepal, aiming to provide fast and reliable mobile internet through the new network


    Samsung, the leading smartphone brand in Nepal, has always brought innovation in mobile technology. They lead in foldable phones, 5G capabilities, and connected ecosystems.

    The major telecoms NTC and Ncell use different frequency bands across Nepal. Samsung supports all common bands like 900MHz 2G, 2100MHz 3G, and 1800MHz 4G. In 2020, Samsung first added support for NTC’s 800MHz Band 20 LTE when VoLTE expanded.

    Samsung devices work on all NTC and Ncell bands and frequencies:

    • 900MHz 2G
    • 2100MHz 3G
    • 1800MHz 4G
    • 800MHz Band 20 LTE

    Samsung leads in supporting all Nepal telecom bands. Their foldable, 5G, and ecosystem innovations set industry standards. Samsung partners with NTC and Ncell to enable the latest mobile technology for Nepal.

    Network Ncell Namaste
    2G Band 8 (900 MHz) Band 8 (900 MHz)
    3G Band 1 (2100 MHz) Band 1 (2100 MHz)
    4G Band 3 (1800MHz) Band 3 (1800 MHz)
    4G Band 20 (800 MHz)

    Telecommunications companies in Nepal strive to launch 5G networks. Commercialization of 5G technology by all mobile network operators enables faster internet speeds on 5G-enabled devices. Samsung readies users for 5G in Nepal. Since 2021, Samsung launched affordable 5G smartphones at various price points. Samsung partners with Nepali telecoms to introduce 5G. Recently, Samsung launched the low-cost Samsung Galaxy M14 5G smartphone. Samsung prepared a range of 5G-capable devices awaiting 5G network deployment. Samsung awaits Nepali mobile carriers launching 5G so devices activate 5G connectivity.

    Key phrases included: telecommunications companies, Nepal, 5G networks, 5G technology, mobile network operators, faster internet speeds, 5G-enabled devices, Samsung, affordable 5G smartphones, Nepali telecoms, introduce 5G, low-cost 5G smartphone, 5G-capable devices, Nepali mobile carriers, 5G connectivity.

  • “Gold Drops by Rs.700 Per Tola, Silver Down Rs.35 Per Tola in Nepalese Market Today”

    “Gold Drops by Rs.700 Per Tola, Silver Down Rs.35 Per Tola in Nepalese Market Today”


    The price of fine gold has fallen by Rs. 700 per tola compared to Tuesday’s trading. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is now valued at Rs. 1,12,000 per tola, while tejabi gold is priced at Rs. 111,450. In comparison, on Wednesday, fine gold was at Rs. 1,12,700 per tola, and tejabi gold was at Rs. 1,12,150.

    Similarly, the price of silver has also dropped today, decreasing by 35 rupees. The current price of silver stands at Rs. 1,410 per tola. In contrast, Wednesday’s silver price was Rs. 1,445 per tola.

     

  • “ICRA Nepal Gives Unitech Hydropower B+ Issuer Rating Signaling High Default Risk”

    “ICRA Nepal Gives Unitech Hydropower B+ Issuer Rating Signaling High Default Risk”


     

     

    ICRA Nepal Limited has given Unitech Hydropower Company Limited an issuer rating of [ICRANP-IR] B+. This rating signifies that Unitech Hydropower Company Limited carries a high risk of not meeting its financial obligations on time. It’s essential to understand that this rating is a general assessment of the company’s creditworthiness and is not tied to any specific debt instrument.

    For these rating categories, ranging from [ICRANP-IR] AA to [ICRANP-IR] C, a plus (+) or minus (-) sign may be added to indicate their position within the category. In this case, [ICRANP-IR] B+ is slightly better than [ICRANP-IR] B, while [ICRANP-IR] B- is slightly lower than [ICRANP-IR] B.