Category: Business | Market | Economy

  • “HDHPC’s Auction Sets Cut-off Rate at Rs. 120”

    “HDHPC’s Auction Sets Cut-off Rate at Rs. 120”


     

    On August 20, 2023, Himal Dolakha Hydropower Company Limited (HDHPC) initiated the bidding process for 15,77,211 units of its regular shares available for the public. These shares were part of the remaining portion from their rights offering. Initially, the company had offered a 1:0.75 ratio right share opportunity to its eligible shareholders between 22nd Jestha and 25th Ashad, 2080. The unsold right shares were then put up for auction to the general public from 22nd to 29th Shrawan, 2080. The auction was managed by Laxmi Capital Market, with the final bid cut-off rate set at Rs. 120.

     

  • “Intense Competition Propels Life Insurers to Collect Rs. 1.42 Kharba in Premiums Until Ashad”

    “Intense Competition Propels Life Insurers to Collect Rs. 1.42 Kharba in Premiums Until Ashad”


     

    Life insurance companies are currently in a strong competition to increase their premium collections. In the fiscal year 2079/80, until the month of Ashad, they collected a significant amount of Rs. 1.42 Kharba in premiums. This achievement was made possible by the hard work across 1.41 crore active insurance policies.

    According to a report from the Nepal Insurance Authority, Reliable Nepal Life Insurance Company Limited is leading with the highest number of active policies, at 3,344,435. National Life Insurance Company Limited comes next with 1,609,278 policies. On the lower side, Mahalaxmi Life Insurance has 35,015 active policies.

  • “Synergy Power Development Launches 1:0.5 Right Share Issue Today”

    “Synergy Power Development Launches 1:0.5 Right Share Issue Today”


    Synergy Power Development Limited (SPDL) has announced the commencement of a new issuance, offering a 2:1 (or 1:0.5) ratio of 4,032,875 units of right shares to its current shareholders. Priced at a par value of Rs. 100 per share, the issuance started on 3rd Bhadra and will continue until the closing date on 24th Bhadra, 2080, during office hours.

    This hydropower company is introducing 50% right shares, equivalent to Rs. 40.32 Crores in value, through the distribution of 4,032,875 units of right shares to its existing shareholders. With a current paid-up capital of Rs. 80,65,75,000, the company’s paid-up capital is set to grow to Rs. 120.98 Crores following the adjustment for the proposed right share issuance.

     

  • “Prabhu Capital Partners with Total Physical Fitness Centre to Offer 28% Discount to Demat Holders”

    “Prabhu Capital Partners with Total Physical Fitness Centre to Offer 28% Discount to Demat Holders”


     

    Prabhu Capital has entered into an agreement with Total Physical Fitness Centre to offer customers a 28% discount and a complimentary sauna coupon. This exclusive deal can be accessed by clients of the merchant bank by providing their demat service number. The Memorandum of Understanding (MoU) was formalized during a ceremony, involving Prabhu Capital’s CEO Mr. Aasis Gauchan and Total Physical Fitness Centre’s MD Mr. Suman Pandit, according to a media statement.

  • “Garima Bikas Bank Introduces 11.99% Fixed Interest Home and SME Loans”

    “Garima Bikas Bank Introduces 11.99% Fixed Interest Home and SME Loans”


     

     

    Garima Bikas Bank has introduced two new loan programs: Garima Easy Home and SME loans, both with a competitive interest rate of 11.99%. Borrowers can benefit from a fixed interest rate of 11.99% over a seven-year term under these new schemes.

    The bank’s extensive network consists of 121 branches and 50 ATM outlets, providing convenient access to its services.

  • “SEBON Grants Licenses to Five New Brokerage Firms”

    “SEBON Grants Licenses to Five New Brokerage Firms”


     

    The Securities Board of Nepal (SEBON) has recently approved licenses for five new brokerage firms. Sajilo Broker Company Ltd, Roadshow Securities Ltd, and Beni Securities Pvt. Ltd have been granted licenses for limited stock broking services, while Himalayan Securities Ltd and Sunny Securities Company Ltd. have been approved as full operating brokerage service providers. These licenses were awarded based on the evaluation of meeting required infrastructure criteria. Earlier, SEBON had issued preliminary licenses or letters of intent to 43 companies in three separate phases.

     

  • “Nepal’s 2022/23 Macroeconomic and Financial Report Released by Central Bank”

    “Nepal’s 2022/23 Macroeconomic and Financial Report Released by Central Bank”


     

    Nepal Rastra Bank has reported that inflation was around 7.74 percent year-on-year. The country’s foreign exchange reserves were at USD 11.74 billion. However, both imports and exports saw declines, with imports dropping by 16.1 percent and exports decreasing by 21.4 percent. This is in contrast to the previous year when imports had increased by 24.7 percent and exports had risen by 41.7 percent.

    In terms of loans, an amount of Rs. 197.06 billion was given out to 145,778 borrowers in mid-July 2023. Among these borrowers, Rs. 135.76 billion was provided to 60,350 individuals involved in commercial agriculture and livestock businesses. Additionally, Rs. 58.38 billion was extended to support 82,718 women entrepreneurs. The remaining Rs. 2.91 billion was allocated to 2,710 borrowers falling under other categories of concessional loans.

     

  • “CASBA/Meroshare Settlements Impacted by Technical Issue”

    “CASBA/Meroshare Settlements Impacted by Technical Issue”


     

    A recent technical issue has temporarily affected the CASBA/Meroshare application’s settlement procedures. This problem has caused delays in the settlement processes. The team is actively working to fix the issue, and further information will be provided once the matter is resolved.

  • “Nepal-Bangladesh Power Deal: 40 MW Export in First Phase Marks Milestone Agreement”

    “Nepal-Bangladesh Power Deal: 40 MW Export in First Phase Marks Milestone Agreement”


     

    A recent multi-party agreement has been established to enable electricity supply from Nepal to Bangladesh. The agreement involves Nepal, India, and Bangladesh, and is considered a preliminary step. The Ministry of Energy, Water Resources, and Irrigation has disclosed that the initial phase will see Bangladesh purchasing 40 megawatts of electricity from Nepal.

     

  • “Nepal Oil Corporation Raises Petrol and Diesel Prices”

    “Nepal Oil Corporation Raises Petrol and Diesel Prices”


     

    Nepal Oil Corporation (NOC) recently raised the prices of petrol and diesel, causing a stir in the local market. The corporation’s board meeting, held on Tuesday, led to a unanimous decision to adjust prices. Diesel and kerosene prices surged by Rs. 14 per liter, while petrol increased by Rs. 5 per liter. As a result, consumers now pay Rs. 175 per liter for petrol and Rs. 164.5 per liter for diesel and kerosene, impacting the people significantly.

  • “RADHI Reports Q4 Profit; Slight Dip in Revenue from Power Sales”

    “RADHI Reports Q4 Profit; Slight Dip in Revenue from Power Sales”


    Radhi Bidyut Company Limited (RADHI) has reported a remarkable 121.33 percent increase in its net profits during the fourth quarter, reaching Rs. 11.27 crores for FY 2079-80. This substantial growth contrasts with the Rs. 5.09 crores earned in the same period of the previous fiscal year, 2078-79. The company’s primary income source, power sales, has experienced a decline of 4.82 percent, amounting to Rs. 12.84 crores for FY 2079-80.

     

  • “Closing Today: 9% Nepal SBI Bank Debenture 2089 (NSBD98) Issue”

    “Closing Today: 9% Nepal SBI Bank Debenture 2089 (NSBD98) Issue”


     

    Starting from today, Nepal SBI Bank Limited is concluding the public offering of its “9% Nepal SBI Bank Debenture 2089,” consisting of 2,000,000 units priced at Rs. 1000 per unit.

    Initially, the issue had commenced on the 18th of Shrawan, 2080, and was scheduled to close early on the 22nd of Shrawan. However, due to the issue not attaining full subscription by the original closing date, the deadline has been extended until the 31st of Shrawan.