Tag: Arun

  • AGM Called by Asian Life Insurance to Discuss Right Issuance and Dividend Proposal

    AGM Called by Asian Life Insurance to Discuss Right Issuance and Dividend Proposal


    Asian Life Insurance Company Limited (ALICL) has scheduled its 16th Annual General Meeting (AGM) for the 18th of Falgun, 2080. The meeting will take place at Hotel Classic Plaza in Simara, Bara, starting at 11:30 AM on that day.

    Among the agenda items, the AGM will approve the issuance of right shares and declare an 8.1578% dividend for the fiscal year 2079/80. In a board meeting held on Magh 12, the board of directors decided to distribute 7.75% bonus shares and a 0.4078% cash dividend (for tax purposes). The bonus shares are valued at Rs. 24.45 crores, while the cash dividend amounts to slightly over Rs. 1.28 crores. ALICL’s current paid-up capital stands at Rs. 3.15 billion.

     

  • Deadline for Sarbottam Cement’s Local IPO Today

    Deadline for Sarbottam Cement’s Local IPO Today


     

    Sarbottam Cement plans to issue 12.9033% of its total issued capital, which amounts to Rs 4.65 billion. This equates to 6 million shares, valued at Rs 6 billion. Initially, 40% of these shares, totaling 2.4 million, were allocated to Qualified Institutional Investors (QIIs), leaving 60% for the general public.

    Of the 3.6 million shares designated for the public, 930,000 were distributed to locals affected by the industry in Nawalparasi District or by mining in Palpa District. The remaining 2.67 million shares were intended for Nepalese citizens employed abroad. Eventually, the remaining 2.403 million shares will be made available to the general public.

  • Budhanilkantha Heritage Taps Global IME Capital for IPO Launch

    Budhanilkantha Heritage Taps Global IME Capital for IPO Launch


     

    On January 23, 2080, Budhanilkantha Heritage Hotel Limited (BHHL) enlisted Global IME Capital Limited (GBIMEL) as the manager for issuing and selling securities. They plan to offer 1,500,000 ordinary shares, which represent 15% of the total issued capital, at a face value of Rs 100 per share to the general public.

    The agreement for issuing ordinary shares was formalized through a bilateral agreement signed by Mr. Babu Kaji Karki, the Managing Director of Budhanilkantha Hotel, and Mr. Mandip Luitel, the Chief Executive Officer of Capital.

     

  • Ganapati Laghubitta Q2: Net Profit and Revenue Decline; NPL at 4.66%

    Ganapati Laghubitta Q2: Net Profit and Revenue Decline; NPL at 4.66%


    Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) has published its second-quarter financial report for FY 2080/2081, indicating a 5.33% decrease in Net Profit. The net profit for this quarter fell to Rs. 1.07 Crores from Rs. 1.13 Crores in the same period last year.

    Moreover, the company experienced a 14.25% decrease in borrowings, totaling Rs. 1.49 Arba compared to the previous year. Additionally, loans and advances dropped by 17.89% to 2.05 Arba.

     

  • CBBL Q2 Report Shows 21.55% Net Profit Drop; EPS at Rs. 29.30

    CBBL Q2 Report Shows 21.55% Net Profit Drop; EPS at Rs. 29.30


     

    Chhimek Laghubitta Bittiya Sanstha Limited (CBBL) released its second-quarter report for FY 2080/2081, revealing a 21.55% decline in net profit. The net profit dropped to Rs. 43.62 crore from Rs. 55.60 crore in the same quarter last year. Additionally, the company’s borrowings decreased by 22.81% to Rs. 3.51 Arba compared to Rs. 4.55 Arba in the previous year’s quarter. On the other hand, deposits saw a 3.82% increase, reaching Rs. 31.88 Arba.

     

  • Akama Hotel Schedules SGM to Issue IPO at Rs. 50

    Akama Hotel Schedules SGM to Issue IPO at Rs. 50


     

    Akama Hotel Limited has scheduled a Special General Meeting (SGM) for the 14th of Falgun, 2080. The meeting will take place at the company’s registered office located in Akama Hotel, Dhumbarahi, Kathmandu, starting at 11:30 AM.

    One of the key agendas for the meeting is to propose issuing an Initial Public Offering (IPO) to the general public, along with increasing the authorized, issued, and paid-up capital of the company. Additionally, there will be a discussion regarding splitting the existing face value of 100 rupees into 50 rupees, as well as revising the articles of association and regulations. Another agenda is to determine the remuneration, allowances, and facilities for the directors.

  • NIBL Stable Fund Allotted; Fund Size Extended to Rs. 113 Crores

    NIBL Stable Fund Allotted; Fund Size Extended to Rs. 113 Crores


    NIMB Ace Capital Limited launched its latest closed-end mutual fund scheme, named the “NIBL Stable Fund,” valued at Rs 1 Arba. The subscription period began on the 2nd of Magh and ended on the 16th of Magh, 2080. The allotment program took place at NIMB Ace Capital’s premises in Lazimpat on the 24th of Magh at 9 AM.

    Originally planning for 10 crore units at Rs 10 per unit, the fund saw significant oversubscription, prompting a resizing to 113% of its initial size. As a result, the total units issued for the “NIBL Stable Fund” reached 11.3 crore units.

     

  • NEPSE Sees 0.23% Gain; 5 Companies Hit Positive Circuit

    NEPSE Sees 0.23% Gain; 5 Companies Hit Positive Circuit


     

    The Nepal Stock Exchange (NEPSE) Index rose by 4.92 points or 0.23% from the previous day to close at 2,090.64 points. The index had gained 9.44 points the day before. Today, trading began with the index opening at 2,095.1, hitting a low of 2,086.76, and reaching a high of 2,107.57.

    In today’s trading session, 313 different stocks were traded in 65,463 transactions. The total volume of shares traded was 7,732,234, with a turnover of Rs. 2.84 Arba. The market capitalization stood at Rs. 32.86 Kharba, with a float market capitalization of Rs. 11.27 Kharba.

     

  • Slow Progress: Narayangadh-Butwal Road Project 46% Complete

    Slow Progress: Narayangadh-Butwal Road Project 46% Complete


     

    The Narayangadh-Butwal road expansion, part of the East-West Highway, is only 46% complete after five years, with significant work remaining. Engineer Shiv Khanal, from the project’s Eastern Section, attributes the slow progress to contractors not sticking to their schedules. The China State Construction Engineering Corporation Limited began the project in 2075 B.S. with a four-year target, but it’s behind. Rakesh Jha, the contract co-manager, suggests a one-year extension as it can’t be finished in the current extended period.

  • Mithila Laghubitta Bittiya Sanstha Limited Reports Q2 Net Profit Decline of 38.73%, Reveals Financial Snapshot

    Mithila Laghubitta Bittiya Sanstha Limited Reports Q2 Net Profit Decline of 38.73%, Reveals Financial Snapshot


    Mithila Laghubitta Bittiya Sanstha Limited (MLBBL) has recently released its financial report for the second quarter of the fiscal year 2080/81. The company disclosed a net profit of Rs. 1.33 Crore during this quarter, indicating a decline of 38.73% from the Rs. 2.17 Crores reported in the same quarter of the previous fiscal year.

    MLBBL’s financial structure exhibited a 2.73% increase in borrowings, totaling Rs. 1.33 Arba. Simultaneously, loans and advances saw a growth of 7.54%, reaching Rs. 2.49 Arba in the current reporting quarter.

    In terms of core revenue, the net interest income experienced a slight decrease of 2.56%, amounting to Rs. 5.57 crores in the current quarter compared to Rs. 5.72 crores in the corresponding quarter of the previous fiscal year.

    The company maintains a strong financial foundation with a paid-up capital of Rs. 19.6 crores and reserves totaling Rs. 13.71 crores. The annualized earnings per share (EPS) stood at Rs. 13.60, while the net worth per share was reported at Rs. 167.22. Interestingly, MLBBL is currently trading at a P/E multiple of 69.23 times.

    On another financial aspect, the Non-Performing Loans (NPL) witnessed a notable increase of 35.87%, resulting in a standing ratio of 4.47%. The provided figures offer a comprehensive overview of MLBBL’s financial performance and position in the specified quarter.

  • Fine Gold Drops by Rs. 500 per Tola, Silver Down by Rs. 15 per Tola

    Fine Gold Drops by Rs. 500 per Tola, Silver Down by Rs. 15 per Tola


    The Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA) has reported a recent decrease in the cost of fine gold and silver. According to the latest update, the trading price for fine gold is now Rs. 1,18,000 per tola, marking a reduction of Rs. 500 from the closing rate on Monday, which was Rs. 1,18,500 per tola.

    Similarly, Tejabi gold is currently priced at Rs. 1,17,450 per tola, indicating a decrease of Rs. 500 compared to Monday’s closing price of Rs. 1,17,950 per tola. This decline in prices suggests a notable shift in the precious metal market within a short timeframe.

    Furthermore, the price of silver has also seen a reduction of Rs. 15 per tola, with the current market rate standing at Rs. 1,375 per tola. This contrasts with the closing rate on Monday, which was Rs. 1,390 per tola. The adjustments in both gold and silver prices highlight the dynamic nature of the market, influenced by various factors impacting precious metal valuations.

  • NEPSE Index Gains 0.45%, Himalayan Reinsurance Leads Turnover

    NEPSE Index Gains 0.45%, Himalayan Reinsurance Leads Turnover


    The Nepal Stock Exchange (NEPSE) Index recorded a gain of 9.44 points, equivalent to 0.45%, compared to the previous day’s closing, concluding at 2,085.71 points. The index had experienced a gain of 14.57 points in the preceding trading session. The market commenced today with an opening index of 2,073.83, reaching an intraday low of 2,067.59, and achieving an intraday high of 2,087.24.

    During the day’s trading activities, a total of 315 different stocks were exchanged in 66,559 transactions. The volume of shares traded amounted to 7,624,376, resulting in a total turnover of Rs. 2.59 Arba. The market capitalization settled at Rs. 32.78 Kharba, with a float market capitalization of Rs. 11.23 Kharba.

    Himalayan Reinsurance Limited (HRL) emerged as the leader in turnover, totaling Rs. 33.76 crore, concluding the day with a market price of Rs. 704.90. Additionally, Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) experienced the highest gain of 9.99%, followed by Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) with a gain of 9.42%.

    On the downside, Samling Power Company Limited (SPC) faced the highest loss of 10%. Regarding sector indices, two sectors closed in the red on this particular day. The “Manufacturing And Processing Index” observed the highest gain of 1.08%, while the “Others Index” incurred a loss of 0.55%.