Category: Articles & Updates

In today’s market update, gold prices have surged by Rs. 500 per tola compared to Friday’s rates, according to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA). The current value of fine gold stands at Rs. 1,38,400 per tola, reflecting a notable increase from Friday’s price of Rs. 1,37,900 per tola. Similarly, Tejabi gold is now priced at Rs. 1,37,750 per tola, marking a Rs. 500 hike from the previous rate of Rs. 1,37,250 per tola.

The peak price of fine gold was observed on April 19th, 2024, reaching a record high of Rs. 1,39,300 per tola. Conversely, the price of silver has experienced a slight decline of Rs. 10 per tola, with the current market rate at Rs. 1,725 per tola, down from Friday’s figure of Rs. 1,735 per tola.

While domestic market prices continue to climb, global dynamics play a significant role. International figures indicate gold trading at $2,359.70 per ounce, while the global silver price has decreased to $28.13 per ounce.

Muktinath Krishi Company Limited (MKCL) has released its financial report for the third quarter of FY 2080/2081, revealing a remarkable upswing in earnings. The company disclosed a net profit of Rs. 2.12 Crores for the quarter, marking a significant turnaround from the net loss of Rs. 2.99 crores in the corresponding quarter of the previous fiscal year.

MKCL experienced a modest rise in Revenue from Operations, soaring by 110.63 percent to reach Rs. 37.61 Crores. Additionally, other income witnessed a significant rise of 157.16% to attain Rs. 26.11 lakhs.

However, alongside this income surge, the company reported an incline in personnel expenses by 41.52 percent, totaling Rs. 3.88 Crores. Simultaneously, there was an increase in other operating expenses and financial expenses.

MKCL maintains a substantial paid-up capital of Rs. 70 Crores but reports negative other equity of Rs. 4.37 Crores. Notably, MKCL has augmented its investments, reaching Rs. 10.2 Crores.

In terms of financial indicators, MKCL’s annualized Earnings per Share (EPS) inclined to Rs. 4.05, reflecting the improved profitability. Moreover, the Net Worth per Share is reported at Rs. 93.75.

Asian Life Insurance Company Limited (ALICL) has unveiled its third-quarter financial report for FY 2080/2081, showcasing an impressive surge of 254.92% in net profit. The company’s net profit soared to Rs. 69.11 crores, marking a substantial increase from the Rs. 19.47 crores recorded in the corresponding quarter of the previous fiscal year.

ALICL maintains a significant paid-up capital of Rs. 3.15 Arba and notable reserves, comprising Rs. 92.09 Crores in retained earnings, Rs. 3.82 lakhs in other equity, and Rs. 26.34 Crores in catastrophe reserves.

During the reviewed period, ALICL experienced a remarkable incline of 10.50% in net premiums, reaching Rs. 5.61 Arba in Q3 FY 2080/81 compared to the previous year. Additionally, the company demonstrated financial astuteness by generating Rs. 2.52 Arba from income derived from investments, loans, and other financial activities.

However, the quarter also witnessed a noteworthy 6% increase in net claims, totaling Rs. 6.84 Arba. Similarly, commission expenses declined by 3.87%, reaching Rs. 50.15 Crores.

Key financial metrics further underscore ALICL’s performance, with an annualized earnings per share (EPS) of Rs. 29.20. Moreover, the net worth per share stands at Rs. 138.75, while the Price-to-Earnings (P/E) ratio stood at 19.19 times.

United Ajod Insurance Limited (UAIL) has unveiled its third-quarter financial results for the fiscal year 2080/2081, showcasing a remarkable surge in net profit. The company’s net profit experienced a significant jump of 46.06%, reaching Rs. 27.42 crores compared to Rs. 18.77 crores in the same quarter of the previous fiscal year.

UAIL boasts a paid-up capital of Rs. 1.90 Arba and significant reserves, including Rs. 28.54 Crores in retained earnings, Rs. 71.63 Crores in other equity, Rs. 4.05 crores in catastrophe reserves, and Rs. 93.42 Crores as special reserves.

During the quarter under review, UAIL witnessed a notable increase of 81.57% in net premiums, amounting to Rs. 78.44 Crores in Q3 FY 2080/81 compared to the corresponding period last year. The company also generated Rs. 25.68 Crores from income derived from investments, loans, and other financial activities.

However, there was a significant 116.53% increase in net claims during the quarter, totaling Rs. 35.79 Crores. Notably, UAIL augmented its investments, reaching Rs. 4.59 Arba.

Key financial metrics further underscore UAIL’s strong performance, with an annualized earnings per share (EPS) of Rs. 19.20 and a net worth per share of Rs. 203.78.

Laxmi Sunrise Bank Limited (LSL) has announced the commencement of an auction for 75,88,397 units of shares by its existing promoter. Promoter shareholders interested in acquiring these shares are invited to participate in the auction process.

Interested promoter shareholders are requested to submit their details to the central office of the bank located at Hattisar, Kathmandu, by the 28th of Baishakh, following the publication of this notice.

In the event of no written responses from the existing founder shareholders within the specified 35-day period, Laxmi Sunrise Bank will proceed with the auction of the shares in accordance with the provisions outlined in the Act on Banks and Financial Institutions 2073, along with the consolidated instructions from Nepal Rastra Bank and other relevant laws.

In a recent development, SuryaJyoti Life Insurance Company Limited (SJLIC) has declared a substantial 35% dividend for the fiscal year 2079/80. Shareholders are in for a treat as the company distributes 10.26% bonus shares and 24.74% cash dividend. The total worth of the dividends amounts to Rs. 1.12 Arba, bringing good news to investors.

The company’s decision came following its 16th Annual General Meeting held on the 21st of Baishakh, 2081. During the meeting, shareholders discussed various aspects of the company’s performance and future prospects. Additionally, the 371st board of directors meeting convened on Chaitra 20 proposed the attractive dividend package.

SJLIC has also emphasized the importance of dematerializing shares for shareholders who are yet to update their bank information in the Demat account. This move aims to ensure seamless and efficient distribution of dividends directly to the bank accounts of investors.

Furthermore, the company has issued a reminder to eligible investors who have availed loans against their shares. To receive the dividend, these investors must furnish a No Objection Letter from their respective lending institutions before the book closure date.

This initiative reflects SJLIC’s commitment to enhancing shareholder experience and embracing digitalization for smoother transactions. Shareholders are encouraged to take advantage of these opportunities to optimize their investment experience with SJLIC.

Today witnessed a significant surge in the price of gold, a highly sought-after commodity in the market. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the current rate of fine gold stands at Rs. 1,37,900 per tola, marking a substantial increase of Rs. 2,300 compared to yesterday’s price of Rs. 1,35,600 per tola.

Similarly, Tejabi gold also experienced a rise, reaching Rs. 1,37,250 per tola, up by Rs. 2,300 from the previous day’s rate of Rs. 1,34,950 per tola.

The peak in gold prices was noted on April 19th, 2024, when fine gold hit an unprecedented high of Rs. 1,39,300 per tola.

Furthermore, the cost of silver has also seen an upward trend, increasing by Rs. 50 per tola. The new price for silver is Rs. 1,735 per tola, up from Rs. 1,685 per tola reported yesterday.

As the domestic market continues its upward trajectory, it’s essential to consider international factors. Currently, the international gold rate stands at $2,353.10 per ounce, while silver is priced at $28.38 per ounce in the global market.

Unilever Nepal Limited (UNL) has unveiled its financial performance for the third quarter of the fiscal year 2080/81, showcasing remarkable growth in net profit. The company’s net profit soared by 30.46%, reaching Rs. 48.61 Crores, a substantial increase from Rs. 37.26 Crores recorded in the same quarter of FY 2080-81. Moreover, UNL’s revenue for the quarter experienced a modest uptick of 1.52%, reaching Rs. 1.99 Arba.

An encouraging highlight from the report is the significant 27.97% surge in other incomes, amounting to Rs. 7.32 Crores during the same period. Additionally, UNL reported investments in fixed deposits worth Rs. 1.57 Arba, marking an impressive rise of 149.09% compared to the corresponding quarter of the previous fiscal year.

UNL continues to demonstrate resilience with a paid-up capital of Rs. 9.21 Crores and retained earnings reported at Rs. 4.26 Arba in Q3 of FY 2080-81.

The financial report of the company is further highlighted by an annualized earnings per share (EPS) of Rs. 703.73 and a net worth per share of Rs. 4725. The price-to-earnings (PE) ratio stands at Rs. 47.48.

The price of fine gold in Nepal has experienced a notable decrease, falling by Rs. 800 to now trade at Rs. 1,35,600 per tola, according to the latest figures from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA). The prior rate was Rs. 1,36,400 per tola.

Tejabi gold, similarly, has seen a price reduction of Rs. 800, with the current rate standing at Rs. 1,34,950 per tola, down from Rs. 1,34,150 per tola.

The highest recorded price of fine gold was on April 19th, 2024, when it reached a peak of Rs. 1,39,300 per tola.

On the other hand, silver prices have slightly increased by Rs. 10, moving up to Rs. 1,685 per tola from the previous day’s price of Rs. 1,675 per tola.

The changes in precious metal prices are aligned with trends seen in both local and international markets. Globally, gold is currently priced at $2,317.90 per ounce and silver at $27.56 per ounce, showing an increase in the latter’s value.

The Nepal Stock Exchange (NEPSE) Index experienced a positive shift, climbing by 0.28% or 5.63 points to close at 1,966.23 points today, recovering from a previous loss of 2.06 points. The trading began at 1,963.45 and saw highs and lows ranging from 1,970.55 to 1,955.15, indicating a volatile day for traders.

A total of 49,332 transactions were recorded, involving 313 stocks and resulting in a trading volume of 7,058,399 shares. The turnover reached Rs. 3.12 Arba, contributing to a significant day in the market. The overall market capitalization stood strong at Rs. 31.17 Kharba, with the float market cap noted at Rs. 10.56 Kharba.

Among the standout performers, Nepal Finance Ltd. (NFS) led the turnover list with a remarkable closing at Rs. 548.00 per share, resulting from a turnover of Rs. 16.97 Crore. Additionally, gains were prominently seen in the hospitality sector, with Oriental Hotels Limited (OHL) and City Hotel Limited (CITY) registering increases of 8.46% and 7.99% respectively.

On the downside, Kumari Sabal Yojana (KSY) faced a significant drop, closing at Rs. 7.99, down by 8.48%. Despite the upbeat movement in most stocks, the Microfinance Index slightly receded by 0.90%, contrasting with a robust 6.96% rise in the Hotel and Tourism Index.

Today’s trading underscores a dynamic market environment in Nepal, reflecting varied investor sentiments and sector performances.

Salt Trading Corporation Limited (STC), in its latest financial update, has reported a significant profit increase in the third quarter of the fiscal year 2080-81. The company’s net profit rose to Rs. 5.19 crores, marking a 40% increase compared to Rs. 3.71 crores in the same period last year.

STC’s financial health is robust, with a paid-up capital of Rs. 32.07 crores and reserves and surplus amounting to Rs. 1.39 Arba. The company witnessed a remarkable rise in sales revenue by 63.91%, totaling Rs. 9.45 Arba. There was also a slight growth in other income, up by 4.78% to Rs. 2.73 crores.

However, the report also highlights challenges, such as a significant 52.85% increase in interest expenses, which stood at Rs. 41.61 crores. Administrative expenses saw a 5.09% rise to Rs. 16.12 crores, while staff costs also grew by 8.78%, amounting to Rs. 27.17 crores.

The company’s earnings per share (EPS) have been calculated at Rs. 21.60, with the net worth per share reaching Rs. 534.06.

Nepal Reinsurance Company Limited (NRIC) has announced that its 9th Annual General Meeting (AGM) is scheduled for the 17th of Jestha, 2081. The event will be held at Anupam Foodland And Banquet in Battisputali, Kathmandu, starting from 9:30 AM.

One of the major points on the agenda is the approval of a 5% dividend for the fiscal year 2079/80. This includes 4.75% in bonus shares, which totals Rs. 60.86 Crore, and a 0.25% cash dividend, aimed at covering tax obligations, amounting to Rs. 3.20 Crore. NRIC’s current paid-up capital stands at Rs. 12.81 Arba.

Additionally, shareholders will review and endorse the auditor’s report, which includes the profit and loss statements, financial reports, and cash flow statements. The AGM will also appoint an auditor for the upcoming fiscal year 2080/81 and elect one director from the group of promoter investors.

The book closure date has been set for Jestha 6, 2081. Shareholders registered before this date will be eligible for the dividend and are entitled to participate in the AGM.

At the time of this announcement, the last traded price (LTP) of NRIC was Rs. 675.50.