Chhyangdi Hydropower has chosen BoK Capital Market as the issue manager for its upcoming issuance of right shares. The company plans to offer existing shareholders the opportunity to purchase additional shares in a 1:1 ratio, totaling approximately Rs 38.69 crore. This move aims to strengthen shareholder ownership and support the company’s growth in the hydropower sector.
Category: Articles & Updates
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Gold Price Surges by Rs. 600 in Domestic Market, Silver Declines by Rs. 5 per Tola
Gold prices in the domestic market have experienced a significant surge today, increasing by Rs. 600. Fine gold is currently being traded at Rs. 109,800 per tola, marking an increase from yesterday’s rate of Rs. 109,200 per tola. Similarly, Tejabi gold is being traded at Rs. 109,300 today, compared to yesterday’s rate of Rs. 108,700 per tola.
In contrast, silver prices have witnessed a decline of Rs. 5 per tola. The current trading rate for silver stands at Rs. 1,360 per tola, whereas it was valued at Rs. 1,365 per tola yesterday.
Internationally, the price of gold has reached USD $1,977.00 per ounce, while silver is being traded at $23.41 per ounce.
These fluctuations in gold and silver prices reflect the dynamics of the precious metals market, influenced by factors such as global demand, economic conditions, and investor sentiment.
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Shubha Laxmi Kosh NAV Report: Fund Size at Rs. 28.14 Crores, Records Net Loss in Baisakh
The latest NAV report for “Shubha Laxmi Kosh,” an open-ended fund, has been released. As of the month of Baisakh, the fund size stands at Rs. 28.14 crores.
The NAV for Baisakh is recorded at Rs. 9.26. Shubha Laxmi Kosh has invested Rs. 17.22 crores in listed shares and an amount of Rs. 488,276.89 in public issues, right shares, and bonus shares. Additionally, the fund has allocated Rs. 1.44 crores towards bonds/debentures, while the bank balance stands at Rs. 3.84 crores.
The fund has reported a net loss of Rs. 2.08 crores in the month of Baisakh, compared to a net loss of Rs. 93.09 lakhs in the previous month. These figures provide an overview of the fund’s performance during the specified period, offering insights into the investments made and the financial outcome.
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Kumari Bank Limited Initiates Auction of Promoter Shares to General Public
Kumari Bank Limited (KBL) is conducting an auction for the sale of 316,140 units of promoter shares to the general public. The auction, which began on 8th Jestha and will continue until 10th Ashad, 2080, allows individual investors, companies, and institutions to participate. The minimum bid rate for the auction is set at Rs. 110, and the minimum bid quantity for promoter shares is 1000 units.
While bidders have the option to bid for the entire quantity of shares, they must comply with the Nepal Rastra Bank’s regulations, which limit the maximum number of shares that can be held by a single entity. The auction is managed by B.O.K Capital Markets Limited, and the latest trading price (LTP) for KBL stands at Rs. 165.50 as of the time of writing.
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Himalayan Power Partner Limited Reports Net Loss of Rs. 10.43 Crores in Q3 FY 2079/80
Himalayan Power Partner Limited (HPPL) has released its third-quarter report for the ongoing fiscal year, revealing a Net Loss of Rs. 10.43 crores. In contrast, during the same quarter of the previous fiscal year, the company had recorded earnings of Rs. 1.70 crores.
HPPL reported a revenue of Rs. 26.33 crores from the sale of electricity up to the third quarter of FY 2079/80. However, the company incurred costs of Rs. 1.81 crores for sales, Rs. 34.10 lakhs for administrative expenses, and Rs. 54.16 lakhs for employee costs.
One significant factor impacting the company’s profitability is the financial cost, which amounted to a loss of Rs. 24.86 crores during the first three quarters of the current fiscal year.
HPPL has a paid-up capital of Rs. 1.06 Arba and has retained earnings of Rs. 11.47 crores. The Earnings per Share (EPS) ratio stands at a negative Rs. – 9.79, while the Net Worth per Share is Rs. 110.77.
At the end of the third quarter of FY 79/80, the closing price of HPPL’s shares was Rs. 297.
The completion of the Dordi Khola Hydroelectricity project in Lamjung, with a capacity of 27 MW, has contributed to an increase of 1.53% in current assets and a significant rise of 181.33% in current liabilities compared to the corresponding quarter of the previous fiscal year.
According to the company’s management analysis, following the successful completion of the project, HPPL is exploring potential investments in other projects to further expand its operations.
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Nepal’s Trade Deficit Stands at Rs. 12.04 Kharba for First Ten Months of Fiscal Year
Nepal’s trade deficit for the first ten months of the current fiscal year has remained at Rs. 12.04 Kharba, according to the recently released Nepal Trade Statistics by the Department of Customs. This represents a decrease of 15.85% compared to the trade gap of Rs. 14.31 Kharba during the same period in the previous fiscal year. Both imports and exports have also witnessed a decline of 16.78% and 24.49% respectively when compared to the corresponding period of FY 2078/79.
During the first ten months of FY 2079/80, Nepal’s imports amounted to Rs. 13.35 Kharba, with petroleum products being the top imported commodity, followed by crude soya bean oil and crude palm oil. On the other hand, the country’s exports reached Rs. 1.3 Kharba, experiencing a significant drop compared to the previous year’s figures.
It is noteworthy that Nepal’s trade deficit has narrowed in the review period, indicating some improvement in the overall trade balance. However, the decline in both import and export values suggests challenges in the external trade sector, which require attention and strategic measures to promote trade growth.
Please note that the provided data is based on the first ten months (Shrawan-Baishakh) of FY 2079/80, which corresponds to the period from mid-July 2022 to mid-May 2023.
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Gold Prices Skyrocket by Rs. 800 in Domestic Market
The price of gold has experienced a significant increase of Rs. 800 in the domestic market today. As reported by the Federation of Nepal Gold and Silver Dealers’ Association, the current trading rate for fine gold stands at Rs. 110,000 per tola, compared to yesterday’s rate of Rs. 109,200 per tola. Similarly, Tejabi gold is being traded at Rs. 109,500 today, whereas it was priced at Rs. 108,700 per tola yesterday.
In addition, silver has also seen a price surge of Rs. 15 per tola. The current trading rate for silver in the local market is Rs. 1,385 per tola, up from yesterday’s closing rate of Rs. 1,370 per tola.
In the international market, the price of gold is currently at USD $1,977.60 per ounce, while silver is being traded at $23.83 per ounce.
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LBBL Announces 11% Debenture Issuance for Public and Institutions
Lumbini Bikas Bank Limited (LBBL) has announced its plan to issue 10,00,000 units of “11% LBBL Debenture 2089” to the general public and institutions. The debenture has a maturity period of 10 years and offers an 11% coupon rate. The application period for the debenture will be open from 16th Jestha to 19th Jestha, 2080, with a possible extension to Jestha 30, 2080, if the issue is not fully subscribed.
The debenture will be issued at a par value of Rs. 1000 per unit, totaling 10 lakh units. Of these, 60% (6 lakh units) will be subscribed through private placement, while the remaining 4 lakh units worth Rs. 40 Crores will be available for the public to apply, with 5% allocated for mutual funds. The issuance aims to raise a total of Rs. 1 Arba.
Nabil Investment Banking Limited will act as the issue manager for this debenture issuance. Interested investors can apply for a minimum of 25 units and a maximum of 1,00,000 units.
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Arun Valley Hydropower Granted Approval to Issue 1:1 Right Shares for Shareholders
Arun Valley Hydropower Development Company Limited (AHPC) has received approval from the Electricity Regulatory Commission to issue right shares to its shareholders on a 1:1 basis. This means that each existing shareholder will have the opportunity to purchase one additional share for every share they currently hold.
The decision to issue right shares was proposed during a board of directors meeting. AHPC plans to offer a total of 18,679,626 right shares, with a par value of Rs. 100 each, amounting to a value of Rs. 1.86 Arba. Out of this, half of the funds raised, approximately Rs. 93.39 crore, will be invested in the Likhu Khola Hydropower Project (30 MW) developed by PK Hydropower Pvt. Ltd. The remaining amount will be used to repay a loan taken by AHPC for the Kabeli ‘B’-1 Cascade Hydropower Project in Panchthar.
However, it’s important to note that the issuance of the right shares is still pending final approval from the company’s Annual General Meeting (AGM) and the Securities Board of Nepal (SEBON), in addition to the endorsement received from the Electricity Regulatory Commission.
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Shiva Shree Hydropower Limited Reports Q3 Net Loss
Shiva Shree Hydropower Limited (SSHL) has released its third-quarter report for the fiscal year 2079/80, revealing a net loss of Rs. 23.79 crores. In comparison, the company had incurred a loss of Rs. 28.90 crores during the corresponding quarter of the previous fiscal year.
Despite reducing its administrative and other expenses by 46.03% to Rs. 3.36 crores up to the third quarter of the ongoing fiscal year, SSHL has witnessed an increase in financial expenses from Rs. 27.75 crores to Rs. 31.93 crores. This rise in financial expenses has adversely affected the company’s profitability.
On a positive note, SSHL has achieved a 49.55% increase in revenue generation from the sale of electricity, amounting to Rs. 26.80 crores up to the third quarter of FY 079/80.
SSHL maintains a paid-up capital of Rs. 1.47 Arba but has a negative reserve and surplus.
However, the company’s earnings per share (EPS) ratio stands at a negative Rs. -16.12, and its net worth per share is below par at Rs. 59.73.
According to the company’s management analysis, SSHL has not been able to improve liquidity and balance since the second quarter of FY 2079/80, which has negatively impacted its profitability.
Furthermore, the company reports that its Upper Chaku A Hydropower Project, with a capacity of 22.2 MW, located in Bhote Koshi rural municipality of Sindhupalchok district, has commenced commercial operation from 2078/02/01.
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Liberty Energy Company Limited Reports Net Loss in Q3
Liberty Energy Company Limited (LEC) has released its third-quarter report for the fiscal year 2079/80, revealing a net loss of Rs. 7.99 crores. In the corresponding quarter of the previous fiscal year, the company had incurred a loss of Rs. 1.99 crores.
The financial expense for LEC amounted to Rs. 14.17 crores, which the company attributed to various force majeure events occurring during the construction period. These events have adversely affected the company’s profitability.
On the positive side, LEC generated revenue of Rs. 13.11 crores from the sale of electricity. Additionally, the company’s administrative and other operating expenses have significantly decreased by 65.23%, reducing to Rs. 57.05 lakhs up to the third quarter of the current fiscal year.
LEC maintains a paid-up capital of Rs. 1.50 Arba. However, the company’s financial performance is reflected in its negative earnings per share (EPS) ratio of -5.33 and a below-average net worth per share of Rs. 83.03.
At the end of the third quarter of FY 2079/2080, the closing price of LEC’s shares stood at Rs. 270.
The Upper Dordi “A” Hydropower Project, owned by LEC and located in Lamjung district, has been in continuous operation during the third quarter. As per the implementation of Nepal Financial Reporting Standards (NFRS), all overhead costs not directly attributable to the project or its construction have been transferred to the profit or loss account, resulting in a negative EPS. The commercial operation of the project began in Mangsir, 2079.
LEC has also completed the feasibility study and Initial Environmental Examination (IEE) for other projects, namely the Badigad Khola Hydropower Project (24.6 MW) in Baglung and the Lodo Hydropower Project (1.6 MW) in Lamjung. The company has applied for the generation license at the Department of Electricity Development (DOED) for these projects.
During the 13th Annual General Meeting (AGM) held on Baisakh 25, 2080, under the leadership of Mr. Kush Kumar Joshi, the chairman of the company, LEC’s proposal to issue 50% of right shares worth Rs. 75 crores to existing shareholders was approved.
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SAHAS Urja Limited Reports Reduced Net Profit in Q3
Sahas Urja Limited (SAHAS) has released its revised third-quarter report for the fiscal year 2079/80. The company’s net profit for this quarter has decreased to Rs. 26.51 crores compared to Rs. 58.13 crores in the same quarter of the previous fiscal year.
SAHAS has generated revenue of Rs. 21.80 crores from the sale of electricity. However, the company has experienced a significant increase in administrative expenses, reaching Rs. 1.67 crores by the end of the third quarter. Additionally, finance expenses for the company amounted to Rs. 14.71 crores during Q3 of FY 079/80.
The paid-up capital of SAHAS is Rs. 3.50 Arba, and it has Rs. 2.36 Arba in reserves and accumulated profit. The company’s earnings per share (EPS) ratio is Rs. 10.10, and the net worth per share is Rs. 167.53. The quarter-end price-to-earnings (P/E) ratio for SAHAS is 69.03 times. At the end of the third quarter, the company’s closing stock price was Rs. 518.
SAHAS has completed the construction and testing of the 83 MW Solukhola (Dudhkoshi) Hydropower project in Solukhumbu. The commercial production of electricity from this project began on 2079/11/17. The company has billed the Nepal Electricity Authority for the electricity sales, and the payments are currently being made by NEA.
According to the management analysis of SAHAS, the other income mentioned in the financial statement is not real, as it is generated by applying the principles of IFRIC 12: Service Concession Arrangement based on the NFRS system.