Tag: Bank

  • Himalayan Everest Insurance Distributes Cash Dividend to Shareholders’ Bank Accounts

    Himalayan Everest Insurance Distributes Cash Dividend to Shareholders’ Bank Accounts


    Himalayan Everest Insurance Limited (HEI) is distributing a 6.37% cash dividend starting today directly to the bank accounts and DEMAT accounts of its shareholders. Shareholders are encouraged to dematerialize their shares. Additionally, 8.63% bonus shares will be distributed directly to DEMAT accounts after listing in NEPSE.

    The insurance company held its 30th Annual General Meeting (AGM) on the 25th of Poush, 2080. During the AGM, a 15% dividend for the fiscal year 2079/80 was approved. In a board meeting on the same day, it was decided to distribute dividends on the paid-up capital of Rs. 2.30 Arba. This includes 8.63% bonus shares valued at Rs. 19.86 crore and 6.37% cash dividend (inclusive of tax) valued at Rs. 14.66 crore. The same cash dividends are now being distributed.

     

  • Gold Price Drops by Rs. 500 Per Tola in Nepalese Market; Silver Stable

    Gold Price Drops by Rs. 500 Per Tola in Nepalese Market; Silver Stable


     

    The price of fine gold has dropped by Rs. 500 per tola, according to the latest update from the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA). Currently, fine gold is trading at Rs. 1,18,000 per tola, down from yesterday’s closing rate of Rs. 1,18,500 per tola.

    Similarly, Tejabi gold is now priced at Rs. 1,17,450 per tola, showing a decrease of Rs. 500 compared to yesterday’s closing price of Rs. 1,17,950 per tola.

     

  • Soaltee Hotel Limited Q2 FY 2080/2081: Net Profit Rs. 26.31 Crores, 9.44% Revenue Growth

    Soaltee Hotel Limited Q2 FY 2080/2081: Net Profit Rs. 26.31 Crores, 9.44% Revenue Growth


    Soaltee Hotel Limited (SHL) reported an impressive net profit of Rs. 26.31 crores in the second quarter of the fiscal year 2080/2081, marking a significant increase from Rs. 25.14 crores in the same period last year.

    During this quarter, the company’s total revenue saw a notable rise of 9.44%, reaching Rs. 1.05 Arba, compared to Rs. 96.01 crores in the previous year’s corresponding quarter. At the same time, total expenses for the quarter stood at Rs. 73.28 crores.

     

  • Citizen Life Insurance to End Lock-in Period for 434,906 Mutual Fund Shares by Falgun 27

    Citizen Life Insurance to End Lock-in Period for 434,906 Mutual Fund Shares by Falgun 27


    Citizen Life Insurance Company (CLI) has notified its investors and stakeholders regarding the upcoming end of the lock-in period for 434,906 unit shares held by Mutual Funds. As per the recent directives from the Securities Board of Nepal (SEBON), this lock-in period, which began on Kartik 20, 2080, will conclude on the 27th of Falgun, 2080.

    CLI had previously allocated 30 percent of its issued capital, amounting to Rs. 3.75 Arba, to the general public. Within this allocation, 5 percent was specifically designated for Mutual Funds, comprising 562,500 units of shares.

     

  • Himalayan Reinsurance Proposes 4.21% Dividend for FY 2079/80; Includes Bonus Shares and Cash

    Himalayan Reinsurance Proposes 4.21% Dividend for FY 2079/80; Includes Bonus Shares and Cash


    Himalayan Reinsurance Limited (HRL) has suggested a dividend of 4.21% for the fiscal year 2079/80. In a decision made during the 55th board of directors meeting on Magh 25, it was agreed to distribute this dividend based on the paid-up capital of Rs. 10 Arba. The proposal includes 4% bonus shares and a 0.21% cash dividend, totaling Rs. 40 crores and Rs. 2.10 crores respectively. However, the dividend distribution is subject to approval by the central bank and endorsement at the company’s upcoming Annual General Meeting (AGM).

     

  • Jeevan Bikas Laghubitta Reports 32.87% Q2 Net Profit Decline, Core Revenue Slump, and Slight Deposit Rise

    Jeevan Bikas Laghubitta Reports 32.87% Q2 Net Profit Decline, Core Revenue Slump, and Slight Deposit Rise


    In its latest second-quarter report for the fiscal year 2080/2081, Jeevan Bikas Laghubitta Bittiya Sanstha Limited (JBLB) reported a significant 32.87% decrease in net profit. The net profit for this quarter fell to Rs. 17.76 crore, down from Rs. 26.47 crore in the same period last year.

    Despite the decline in net profit, the company saw a slight 0.10% increase in deposits, reaching Rs. 10.04 Arba. However, there was a 7.61% decrease in loans and advances, which amounted to Rs. 24.53 Arba in this quarter.

     

  • Sindhu Bikas Bank Promoter Shares Up for Auction Today

    Sindhu Bikas Bank Promoter Shares Up for Auction Today


     

    The current owner of Sindhu Bikas Bank Limited (SINDU) plans to sell 131,136 shares to existing shareholders who are interested in becoming promoters. This auction begins today and will last for 35 days, ending on the 26th of Magh. Interested shareholders must submit their bids at the bank’s central office in Banepa, Kavrepalanchowk. If there are no bids from existing shareholders within the given time, the shares will be available for auction to the general public afterward.

     

  • SAHAS Urja (SAHAS) Achieves 112.33% Q2 Net Profit Surge, Generates Rs. 1.53 Arba from Power Sales

    SAHAS Urja (SAHAS) Achieves 112.33% Q2 Net Profit Surge, Generates Rs. 1.53 Arba from Power Sales


    Sahas Urja Limited (SAHAS) has released its unaudited report for the second quarter of FY 2080/81, revealing an impressive 112.33% surge in net profit. The company’s net profit rose significantly to Rs. 45.86 crores for this quarter, a substantial increase from Rs. 21.59 crores in the same quarter last year.

    SAHAS achieved notable revenue from power sales, totaling Rs. 1.53 Arba during this period. Despite facing finance expenses of Rs. 64.76 crore and administrative expenses of Rs. 4.94 Crore, the company maintains a robust financial position, with retained earnings at Rs. 2.6 Arba and a share capital of Rs. 3.5 Arba.

     

  • NRN Infrastructure Reports Q2 Net Profit Surge to Rs. 1.63 Crores; EPS at Rs. 2.67

    NRN Infrastructure Reports Q2 Net Profit Surge to Rs. 1.63 Crores; EPS at Rs. 2.67


     

    NRN Infrastructure and Development Limited (NRN) has published its second-quarter report for the fiscal year 2080/2081, indicating a significant increase in net profit by 188.03%. Despite this surge, the net profit rose to Rs. 1.63 crores compared to Rs. 56.78 lakhs in the same quarter of the previous year.

    The company’s paid-up capital stands at Rs. 1.22 billion, with retained earnings amounting to Rs. 6.47 crores and an investment revaluation reserve of Rs. 54.15 crores. During Q2 of FY 2080/81, NRN has invested Rs. 34.27 crores in associates.

     

  • Sikles Hydropower’s Q2 Earnings Show Slight Growth; Debt Decreases

    Sikles Hydropower’s Q2 Earnings Show Slight Growth; Debt Decreases


     

    In the second quarter of the fiscal year 2080/81, Sikles Hydropower Limited (SIKLES) recorded a net profit of Rs. 6.29 crores, marking a slight uptick of 0.27% compared to the same period last year when it stood at Rs. 6.27 crores.

    During this timeframe, the company’s long-term loan decreased by 6.76%, reaching Rs. 1.26 billion.

    Revenue from power sales totaled Rs. 19.58 crores for Q2, while income from other sources amounted to Rs. 4.05 lakhs.

  • 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.