Nepal Life Insurance Company has resolved insurance claims totaling Rs 69.62 Arba as of the end of Ashoj, 2080. The disbursements primarily include death-related claims distributed among 13,512 policyholders and their nominees, encompassing both local and international beneficiaries, with a cumulative payout of Rs 5.68 Arba. The company, aiming for efficiency, has successfully settled 93% of claims by the conclusion of Ashoj. Furthermore, it commits to a swift resolution for accidental death-related claims within 3 working days and other death-related claims within 7 working days, contingent on complete documentation. Notably, the insurer has achieved a commendable record, settling 46% of claims within 3 days, 67% within 7 days, and 81% within 1 month of the comprehensive documentation submission, as highlighted in the media statement.
Tag: Arba
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Nabil Bank Announces Issuance of 9% Nabil Debenture 2087 with Rs. 3 Arba Target
Nabil Bank Limited (NABIL) has issued an offer letter announcing the issuance of 30,00,000 units of “9% Nabil Debenture 2087” to the general public. The debentures, featuring a maturity period of 7 years and a coupon rate of 9%, will be open for subscription from the 29th of Mangsir to the 3rd of Poush, 2080. In the event of undersubscription, the deadline may be extended until the 13th of Poush, 2080.
The debentures, valued at Rs. 1000 per unit, will have a total issuance of 30 lakh units. Of this, 60%, equivalent to 18 lakh units, will be subscribed through private placement. The remaining 12 lakh units, amounting to Rs. 1.2 Arba, will be available for public issuance, with 5% of this allocation reserved for mutual funds. The total proceeds from the issuance are expected to reach Rs. 3 Arba.
Kumari Capital Limited has been appointed as the issue manager for this debenture offering. Interested investors can apply for a minimum of 25 units and a maximum of 12,00,000 units.
ICRA Nepal has reconfirmed the issuer rating of [ICRANP-IR] AA- – (pronounced ICRA NP issuer rating Double A minus) for Nabil Bank Limited. This rating indicates a high level of safety concerning the timely fulfillment of financial obligations, reflecting a very low credit risk associated with the bank.
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Securities Board of Nepal Approves Nabil Bank’s ‘9% Nabil Debenture 2087’ Offering
Nabil Bank Limited has received approval from the Securities Board of Nepal for its ‘9% Nabil Debenture 2087’ on Mangsir 10, 2080. The debenture issuance comprises a total of 30 lakh units, each with a par value of Rs. 1,000. Out of this total, 12 lakh units will be made available to the general public, while the remaining 18 lakh units will be allocated through private placement. The issuance is being managed by Kumari Capital Limited.
As indicated by its name, the ‘9% Nabil Debenture 2087’ comes with a maturity period of 7 years, reaching maturity in the year 2087 BS. Investors holding these debentures can expect an annual return of 9%.
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NEPSE Weekly Review: Market Trends, Technical Analysis, and Key Insights
This week, the NEPSE index concluded at 1,860.20, marking an increase of 8.12 points (0.44%) from the previous week’s closing at 1,850.08. The index exhibited a range between 1,816.68 and 1,872.64, indicating a weekly volatility of 55.96 points, slightly higher than the 50.98 points observed in the preceding week. The most significant intraday loss, amounting to 20.68 points, occurred on Wednesday, accompanying a turnover of Rs 1.08 Arba. However, the overall weekly turnover amounted to Rs 4.48 Arba.
Momentum Indicators:
The Relative Strength Index (RSI) recorded 43.84 on the daily timeframe and 40.47 on the weekly chart. Meanwhile, the Moving Average Convergence Divergence (MACD) indicators are in the negative zone, with the signal line crossing the MACD line. The MACD reading stands at -25.53.The Nepse Index currently resides below both its 5-day and 20-day Moving Averages, signaling a bearish trend that requires further confirmation. Key support is identified in the 1,807 – 1,837 zone, while resistance is anticipated in the 1,925 – 1,945 zone.
Part 2: Analysis of Key Data
The week witnessed the highest intraday loss of 23.82 points on Tuesday, accompanying a turnover of Rs 95.04 Crores. The total weekly turnover amounted to Rs. 4.48 Arba, with over 1.56 crore unit shares traded through 1,74,410 transactions. NEPSE’s current market capitalization is Rs. 2,868,120.36 million, equivalent to Rs 2.86 Kharba.
Performance of NEPSE Index and Sub-indices:
The NEPSE index experienced a 0.44% decline this week, with only four sector indices closing in the red.Stocks with the Highest Monthly Beta:
Peoples Hydropower Company Limited (PHCL), Ingwa Hydropower Ltd (IHL), and Buddha Bhumi Nepal Hydropower Company Limited (BNHC) are the top three companies with the highest beta, recording 3.087, 2.571, and 2.412, respectively.Top Ten Gainers and Losers of the Week:
Three Star Hydropower Limited (TSHL) emerged as the top gainer, closing at Rs. 381.10 with a notable increment of Rs. 72.40 (23.45%). Prime Commercial Bank Limited Promoter Share (PCBLP) experienced the most significant decline, with its price decreasing by 15.34%, closing at Rs. 122.Top Stocks by Turnover, Volume, and Transactions:
Sonapur Minerals and Oil Limited (SONA) claimed the top position as the most traded company of the week, with shares worth Rs. 30.62 Crores exchanged.Top Buyers and Sellers:
Naasa Securities Pvt. Ltd (Broker No- 58) was the leading buyer broker, investing Rs. 21.14 Crores. Imperial Securities Company Pvt. Ltd. (Broker No- 45) emerged as the top seller broker, selling stocks worth Rs. 31.43 Crores.Top 10 Bought and Sold Companies:
The analysis has been conducted using the SS Pro Software, providing a comprehensive overview of market trends and activities. For more information about the software, refer to the provided link. -
Non-Life Insurance Sector in Nepal Achieves Rs. 10.44 Arba Premium in FY 2080/81
In the initial three months of the fiscal year 2080/81, concluding at the end of Ashwin, the non-life insurance sector in Nepal achieved remarkable success by accumulating a substantial premium of Rs. 10.44 Arba. This impressive growth is outlined in a recent comprehensive report released by the Nepal Insurance Authority. The robust performance of the insurance industry was fueled by a total of 6.81 lakh active insurance policies, collectively held by policyholders across a diverse range of segments.
Siddhartha Premier Insurance emerged as a prominent leader in this sector, boasting an impressive count of 79,696 active policies. Following closely, Neco Insurance secured a commendable position with 75,916 active policies in force. In contrast, National Insurance exhibited a more modest presence with 9,731 active insurance policies.
In terms of the total charges generated through insurance, Sagarmatha Lumbini Insurance established itself as a front-runner, accumulating insurance charges amounting to Rs. 1.31 Arba. Siddhartha Premier Insurance, while not leading in terms of charges, maintained a substantial presence with total charges reaching Rs. 1.06 Arba. Shikhar Insurance Limited also made a substantial contribution, recording insurance charges of Rs. 1.04 Arba.
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Nepal Investment Mega Bank (NIMB) Reports Impressive Q1 2080/81 Profits with 33.47% Growth
Nepal Investment Mega Bank Limited (NIMB) has recently unveiled its first-quarter report for the fiscal year 2080/81, demonstrating a remarkable 33.47% surge in its net profit. The bank’s profit soared to NPR 1.52 Arba during this period, indicating a positive trend in its financial performance.
In terms of financial standing, the same period disclosed a total paid-up capital of NPR 34.12 Arba, along with reserves amounting to NPR 25.89 Arba. However, the bank’s retained earnings were in the negative, standing at NPR 85.23 Crores.
NIMB’s first-quarter report revealed total deposits reaching NPR 3.61 Kharba, while loans and advances to customers amounted to NPR 3.04 Kharba. Notably, the bank experienced a significant 95.40% increase in Net Interest Income, reaching NPR 4.16 Arba. On the flip side, the bank reported personnel expenses of NPR 96.14 Crores and impairment charges of NPR 64.06 Crores.
During the first quarter, the bank achieved an annualized Earnings Per Share (EPS) of NPR 17.84, and the net worth per share was recorded at NPR 173.37. However, the Non-Performing Loans (NPL) spiked up to 4.83%. It’s important to note that the bank reported a negative distributable profit of NPR 85.32 Crores.
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Nepal’s OTC Market Witnesses Surge in Trading Activity in Current Fiscal Year
During the initial quarter of the current fiscal year, Nepal’s stock market saw a notable increase in over-the-counter (OTC) trading activity, registering a turnover of Rs. 1.71 Arba. What sets this OTC market apart is that a significant portion of these traded shares, approximately 36,721,120, belonged to companies not listed on the Nepal Stock Exchange (NEPSE) or had been previously delisted.
The OTC market, also known as the off-board market, operates outside the regular trading hours of NEPSE and offers a platform for the trading of shares of companies that are not listed on NEPSE or have been delisted. Typically, OTC trading takes place from 11 AM to 1 PM on NEPSE, excluding public holidays and Fridays.
To establish a structured framework for the OTC market, NEPSE introduced the ‘OTC Market Regulations, 2065’ in Jestha, 2065. This laid the groundwork for a distinct trading counter, separate from regular automated trading.
Engaging in the OTC market entails investors directly submitting their buy and sell orders to the market, which NEPSE registers in sequential order. Buyers in the OTC market are required to provide company-specific purchase orders and deposit 10% of the share amount as collateral. This information, which includes the company’s name, investor details, and pricing, is displayed on the price quoting board. Subsequently, the market adjusts trading based on the received orders and price information, with transactions taking place when prices and quantities align.
Regarding the clearance process, sellers must present the share certificates to the designated branch for verification within three business days. On the other hand, buyers are obligated to deposit the payment within the same duration at the bank specified by NEPSE. This process ensures the orderly execution of OTC transactions.
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NEPSE Index Sees Substantial Weekly Loss with Notable Intraday Volatility
The NEPSE index concluded the week at a closing value of 1,874.60, marking a significant decline of 82.32 points, equivalent to 4.21%. In comparison, the index had finished at 1,956.92 the prior week, experiencing a loss of 2.36% from the week before.
Throughout the current week, the NEPSE index displayed a range of fluctuations, reaching its peak at 1,963.80 and hitting its lowest point at 1,870.26. This translated to a considerable level of volatility, with a total range of 93.54 points. The previous week, in contrast, saw a lesser degree of volatility, with fluctuations amounting to 47.66 points.
On the first trading day of the week, Sunday, the NEPSE index recorded its most substantial intraday loss, with a drop of 35.68 points. The total turnover for that day reached Rs 1.80 Arba. Nevertheless, the cumulative turnover for the entire week stood at a significantly higher figure of Rs 7.04 Arba.
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NEPSE Rises by 0.27% with Rs. 1.08 Arba Volume; Three Stocks Hit Positive Circuit
In today’s trading on the Nepal Stock Exchange (NEPSE), the index closed at 1,894.76 points, marking a gain of 5.16 points or 0.27% compared to the previous day’s closing. It had experienced a loss of 19.06 points the day before.
The trading day began with an opening index value of 1,890.04 and saw an intraday low of 1,884.40, while the highest point reached during the day was 1,905.05.
During today’s trading, a total of 286 different stocks were traded in 55,197 transactions. The volume of shares exchanged amounted to 3,733,524 units, resulting in a total turnover of Rs. 1.08 Arba. The market capitalization stood at Rs. 28.90 Kharba, with a float market capitalization of Rs. 10.16 Kharba.
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Mathillo Mailun Khola Jalvidhyut IPO Receives Rs. 1.39 Arba from 12.51 Lakh Applicants; Oversubscribed 10.83 Times
Mathillo Mailun Khola Jalvidhyut Limited conducted its Initial Public Offering (IPO), releasing 12,84,200 unit shares to the public from the 18th to the 22nd of Ashwin, 2080.
Out of a total of 15,09,200 units, 1,50,000 units were exclusively available to Nepalese citizens working abroad, and 75,000 units were allocated to mutual funds. The remaining 12,84,200 units were open for the general public.
Sanima Capital served as the appointed issue manager for this IPO, and applicants could apply for a minimum of 10 units and a maximum of 10,000 units.
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NEPSE Closes with 0.26% Gain and Rs 1.73 Arba Turnover
In today’s trading, the Nepal Stock Exchange (NEPSE) Index ended at 1,976.29 points, marking a gain of 5.19 points or 0.26% from the previous day’s close, which had seen a loss of 33.20 points. The trading day began with an opening index value of 1,970.28, hitting a low of 1,954.35, and reaching a high of 1,982.51.
During today’s trading session, there were 286 different stocks traded in 85,591 transactions. The total volume of shares traded amounted to 5,776,896, resulting in a turnover of Rs. 1.73 Arba. The market capitalization stood at Rs. 30.13 Kharba, with a float market capitalization of Rs. 10.61 Kharb.
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NMB Bank Acquires Land Worth Rs. 1.21 Arba
NMB Bank recently acquired land in Kathmandu Metropolitan City Ward No.1 for the construction of a corporate office. The land and structure were valued at Rs. 1,21,39,68,750, and this decision was made during a board meeting on the 10th of Ashwin, 2080. The bank plans to proceed with the purchase of 105.5256 anna of land and the associated building once the property is officially transferred into the bank’s ownership.