connectIPS has introduced an exciting offer for life insurance premium payments, where 10 lucky users will receive Rs 1,000 cashback weekly, and one fortunate user will get full cashback up to Rs 40,000 monthly.

This offer is valid from 6th Jestha to 32nd Shrawan 2081 and is applicable for payments made using connectIPS via the mobile app, web application, or payment gateway.

Winners will be randomly selected and announced weekly and monthly on NCHL’s social media platforms.

connectIPS enables easy fund transfers and service payments, supporting transactions up to Rs 20 lakhs on web applications and Rs 2 lakhs on mobile apps. The platform has processed over 58 million transactions worth Rs 4,456 billion through its 53 member banks and financial institutions (BFIs).

The Nepal Stock Exchange (NEPSE) Index experienced a notable increase today, climbing 2.26% or 45.69 points, to close at 2,064.45 points. This surge follows a modest gain of 0.79 points in the previous session.

The market opened strong, with an initial gain of 26.04 points, marking a 1.29% rise during the pre-open session. The trading day began at 2,044.81 points and saw the index fluctuate, reaching an intraday high of 2,068.91 before dipping to a low of 2,028.07.

In a significant policy shift, the Central Bank announced an increase in the allowance for banks and financial institutions to sell up to 20% of their primary capital investments per fiscal year, up from the previous 1%. However, banks are now restricted from purchasing in the banking and financial institutions (BFIs) sector and can instead invest in sectors such as manufacturing and processing, life insurance, and non-life insurance.

The trading environment was vibrant, with 323 stocks exchanged in 74,991 transactions. The total volume of shares traded reached 12,240,802, resulting in a turnover of Rs. 5.25 Arba, the highest in 3.5 months. The last time turnover was this high was on 31st January 2024, at Rs. 5.29 Arba. The market capitalization stood at Rs. 32.73 Kharba, with a float market capitalization of Rs. 11.11 Kharba.

CEDB Hydropower Development Company Limited (CHDC) was the standout performer of the day, achieving a turnover of Rs. 14.80 Crore and closing at Rs. 836.30 per share.

On the other hand, Mandu Hydropower Limited (MANDU) faced a significant decline, dropping 9.99% to close at Rs. 869.50.

All sector indices closed in the green today. The “Life Insurance Index” recorded the highest gain of 4.38%, while the “Trading Index” saw the smallest increase of 0.55%.

The gold and silver market in Nepal has reached unprecedented heights, hitting a historic peak on May 19, 2024. The Federation of Nepal Gold and Silver Traders’ Association reported a significant surge in gold prices. Fine gold prices soared by Rs. 1,600 to an extraordinary Rs. 1,40,900 per tola, up from Rs. 1,39,300.

Similarly, the price of Tejabi gold rose to Rs. 1,40,200 per tola, an increase of Rs. 1,550 from the previous day’s rate of Rs. 1,38,650 per tola. This peak was first observed on May 16, 2024, when fine gold reached an all-time high of Rs. 1,40,000 per tola.

Silver prices also experienced a notable rise. The cost of silver increased by Rs. 110 per tola, setting the new price at Rs. 1,910 per tola, up from Rs. 1,800 per tola the previous day.

While domestic markets continue their upward trend, international factors play a significant role. Currently, the international gold rate stands at $2,414.40 per ounce, with silver priced at $31.48 per ounce in the global market.

Mahalaxmi Bikas Bank Limited (MLBL) has made history by signing a memorandum of understanding with Nepal Clearing House (NCHL), marking a first among development banks to facilitate international payments between Nepal and India.

This groundbreaking agreement enables direct fund transfers between Indian citizens in Nepal and their accounts in India, as well as Nepalese citizens in India and their accounts in Mahalaxmi Bikas Bank in Nepal, using UPI-linked accounts.

The initiative is set to benefit a wide range of stakeholders, including students, pilgrims, tourists, and individuals seeking medical treatment in India. The memorandum was signed by CEO Dipesh Lamsal of Mahalaxmi Bikas Bank and CEO Neelesh Man Singh Pradhan of NCHL.

With a commitment to providing quality financial services for nearly three decades, Mahalaxmi Bikas Bank aims to strengthen cooperation and is open to partnerships with foreign banks or financial institutions, as discussed in their recent annual general meeting.

Mero Microfinance Laghubitta Bittiya Sanstha Limited (MERO) has announced a significant alteration in its share structure, aimed at boosting public ownership and enhancing investor participation.

As per the notice published by the company, the promoter-public shares conversion ratio has been adjusted from the existing 69.40% – 30.60% to 59.40% – 40.60%, following approval from Nepal Rastra Bank and endorsement in their 11th Annual General Meeting (AGM).

Previously, MERO had 13,200,000 unit shares listed on NEPSE, with promoters holding 69.40% (9,160,800 units) and the public holding 30.60% (4,039,200 units). With the conversion, the promoter shares now amount to 59.40% (7,840,800 units), while public shares stand at 40.60% (5,359,200 units), reflecting an addition of approximately 1,320,000 units to public shareholders.

MERO closed at Rs. 716.00, indicating ongoing market activity and investor interest in the microfinance sector. Stay updated on these developments for potential investment opportunities and market insights.

Prime Minister Pushpa Kamal Dahal, also known as ‘Prachanda,’ has urged the private sector to invest confidently in Nepal’s hydropower sector. Speaking at the 22nd annual general assembly of the Independent Power Producers’ Association, Nepal (IPPAN), the Prime Minister highlighted a significant milestone: the signing of an agreement with India to export 10,000 megawatts of power from Nepal over the next decade.

Emphasizing the importance of this agreement, Prime Minister Dahal noted that it opens avenues for power trade with Bangladesh through India’s transmission lines. He credited his premiership for creating such vital opportunities, labeling it as a landmark success not only for Nepal’s hydroelectricity sector but also for the broader campaign for prosperity.

Prime Minister Dahal expressed optimism about reaching a similar agreement with Bangladesh in the near future to export Nepal’s electricity. Additionally, he outlined the government’s efforts to boost domestic power consumption, including initiatives to promote electric vehicles and appliances. These measures aim to reduce reliance on imported petroleum products and increase the utilization of domestically produced electricity.

In his address, the Prime Minister underscored the pivotal role of the electricity sector in driving Nepal’s development and prosperity. He commended the private sector for its contribution to scaling up power production and emphasized the government’s commitment to supporting and facilitating further growth in this critical sector.

The cost of fine gold has witnessed a decline, according to a recent report from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA). Fine gold is presently trading at Rs. 1,39,300 per tola, reflecting a decrease of Rs. 700 from its previous closing rate of Rs. 140,000 per tola.

Similarly, Tejabi gold now stands at Rs. 1,38,650 per tola, showing a Rs. 650 decline from its previous day’s closing price of Rs. 1,39,300 per tola.

The peak surge in gold prices occurred on May 16, 2024, when fine gold reached an all-time high of Rs. 140,000 per tola.

Additionally, the price of silver has dropped by Rs. 5 per tola, with the current market rate at Rs. 1,800 per tola compared to yesterday’s closing rate of Rs. 1,805 per tola.

Both domestic and international markets have witnessed a decline in prices. The latest update reveals the global gold rate at $2,379.10 per ounce, while silver exhibits negative momentum internationally, with prices reaching $29.58 per ounce.

Stay updated with the latest market trends and price fluctuations in the precious metals market for informed investment decisions.

IME Life Insurance Company Limited (ILI) has announced the convening of its 7th Annual General Meeting (AGM) on 28th Jestha, 2081. The meeting is scheduled to take place at Amrapali Banquet, Naxal, Kathmandu, commencing at 11:00 AM on that day.

Among the key agendas, the AGM will endorse a 26.3158% dividend for the fiscal year 2079/80. Additionally, the 193rd Board of Directors meeting held on Baishakh 21 has decided to distribute a 25% bonus share worth Rs. 1 Arba and a 1.3158% cash dividend (including tax) worth Rs. 5.26 crore.

Furthermore, the meeting will address the endorsement of the auditor’s report along with Profit and Loss statements, financial reports, and cash flow reports. It will also include the appointment of an auditor for the fiscal year 2080/81 and the election of one director from the public shareholding group.

The book closure date is set for Jestha 14. Shareholders maintained before this date are entitled to dividend payout and can participate in the AGM.

Stay informed about these important corporate events and participate in shaping the future of IME Life Insurance through active shareholder engagement.

In a bustling trading day, the Nepal Stock Exchange (NEPSE) witnessed a slight uptick, with the NEPSE Index inching up by 0.03%, settling at 2,018.76 points at the market close. This follows a previous session’s loss, indicating market resilience amidst fluctuations.

Opening at 2,023.33, the NEPSE Index experienced fluctuations throughout the day, reaching an intraday high of 2,029.10 and a low of 2,009.35. A total of 315 stocks were traded in 57,218 transactions, with a trading volume of 8,282,556 shares and a turnover of Rs. 4.23 Arba. Market capitalization stood at Rs. 32.01 Kharba, with a float market capitalization of Rs. 10.83 Kharba.

CEDB Hydropower Development Company Limited (CHDC) emerged as a highlight of the day, with a turnover of Rs. 43.90 Crore, closing at a market price of Rs. 810. However, Mandu Hydropower Limited (MANDU) faced a decline, losing 5.76% to close at Rs. 966.00.

In sector performance, the “Microfinance Index” led with a gain of 3.80%, while the “Finance Index” saw a decline of 1.45%.

Investors keen on Nepali stocks found the trading session filled with opportunities and market insights. Stay updated with the latest stock market news and trends for informed investment decisions.

Existing promoters of Kalika Laghubitta Bittiya Sanstha Limited (KMCDB) and Kisan Laghubitta Bittiya Sanstha Limited (KLBSL) are initiating share auctions, offering investment opportunities for both existing shareholders and Nepalese citizens.

In the case of KMCDB, Dolraj Dhungana plans to sell 15,000 units, while Maya Basnet KC intends to sell 5,000 units of promoter shares. The auction is exclusively open to existing promoter shareholders, who have 35 days from the publication date to submit their bids at the company’s central office in Pokhara.

Simultaneously, KLBSL’s existing promoter is auctioning 13,910 units of shares to Nepalese citizens and companies. Interested investors have a 7-day window to submit their bids at the company’s central office in Lamki Chuha, Kailali.

Should there be no bids from existing founder shareholders within the specified timeframe, the shares will later be available for auction to the general public.

The share prices of KMCDB and KLBSL closed at Rs. 935.00 and Rs. 943.00 respectively. Stay updated on these auction opportunities and seize the chance to invest in these promising ventures.

Nepal’s gold market has witnessed an unprecedented surge, reaching historic highs on May 16, 2024, according to the Federation of Nepal Gold and Silver Traders’ Association.

Fine gold prices have soared by Rs. 1,600, hitting an extraordinary Rs. 1,40,000 per tola, marking a significant increase from its previous price of Rs. 1,38,400. Similarly, Tejabi gold prices have risen to Rs. 1,39,300 per tola, up by Rs. 1,550 compared to the previous day’s rate.

The previous peak price was recorded on April 19th, 2024, when fine gold reached an all-time high of Rs. 1,39,300 per tola. Additionally, the cost of silver has also witnessed an uptick of Rs. 60 per tola, setting the new price at Rs. 1,805 per tola, an increase from yesterday’s rate.

While domestic markets continue their upward trajectory, international factors play a significant role. Presently, the latest international gold rate stands at $2,391.10 per ounce, with silver priced at $29.53 per ounce in the global market.

Stay informed about these record-breaking prices and market trends to make informed decisions in gold and silver trading and investment.

The Nepal Stock Exchange (NEPSE) Index witnessed a marginal loss of 0.47%, settling at 2,017.97 points at the end of today’s trading session, following a previous session’s gain of 28.62 points.

Throughout the trading day, the index displayed fluctuations, opening at 2,030.87 and oscillating between an intraday high of 2,048.29 and an intraday low of 2,012.56.

Trading activities remained vibrant, with 315 stocks exchanged in 55,862 transactions. The volume of shares traded amounted to 8,490,722, generating a total turnover of Rs. 3.70 Arba. NEPSE’s market capitalization stood at Rs. 31.99 Kharba, with a float market capitalization of Rs. 10.83 Kharba.

People’s Power Limited (PPL) emerged as a highlight of the day, recording a turnover of Rs. 11.89 Crore and closing at a market price of Rs. 540.10.

Similarly, two companies witnessed positive circuit movements during the trading session.

However, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) faced a decline, losing 10% to close at Rs. 2,139.30.

In terms of sectoral performance, three sector indices concluded positively, with the “Manufacturing And Processing Index” leading with a gain of 1.40%. Conversely, the “Development Bank Index” experienced a decline of 0.96%.