Tag: Bank

  • Nepal Investment Mega Bank Initiates Auction of Promoter Shares: Exclusive Opportunity for Existing Shareholders

    Nepal Investment Mega Bank Initiates Auction of Promoter Shares: Exclusive Opportunity for Existing Shareholders


    The current promoter of Nepal Investment Mega Bank Limited (NIMB) has initiated the auction of 2,55,741 units of shares, exclusively targeting existing promoter shareholders, starting from today, the 30th of Falgun, 2080.

    In this auction process, only the existing promoters of NIMB are eligible to participate in the bidding, and they have a window of 35 days from the date of the notice publication, concluding on the 30th of Falgun, to submit their bids.

    All interested shareholders are required to submit their bids at the central office of the bank, conveniently located in Lazimpat, Kathmandu. It’s noteworthy that if no bids are received from existing founder shareholders within the specified timeframe, the shares will subsequently be made available for auction to the general public.

    As of the latest update, NIMB is listed with a Last Traded Price (LTP) of Rs. 172.90. Simultaneously, NIMBPO, another class of shares associated with the bank, closed at Rs. 140.10. These market values provide insight into the current financial standing and investor sentiment surrounding Nepal Investment Mega Bank Limited and its associated securities.

  • NEPSE Index Reports Slight Dip Amidst Mixed Sector Performance: Key Highlights from Today’s Trading

    NEPSE Index Reports Slight Dip Amidst Mixed Sector Performance: Key Highlights from Today’s Trading


    The Nepal Stock Exchange (NEPSE) Index closed with a marginal loss of 2.48 points or 0.11% compared to the previous day’s closing, settling at 2,108.72 points, following a notable gain of 58.58 points in the preceding trading session.

    Trading activities commenced with the index opening at 2,123.91, touching an intraday low of 2,093.89, and reaching an intraday high of 2,124.08, with the latter serving as the closing figure for the day.

    Throughout today’s trading, a total of 310 different stocks were exchanged through 73,506 transactions. The volume of shares traded amounted to 10,889,634 with a total turnover of Rs. 4.24 Arba. Market capitalization stood at Rs. 33.14 Kharba, with a float market capitalization of Rs. 11.28 Kharba.

    SHIVAM CEMENTS LTD (SHIVM) led in terms of turnover, reaching Rs. 25.53 crores and closing at a market price of Rs. 548.10.

    Notably, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) emerged as the top performer, exhibiting the highest gain of 9.99%, closely followed by Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) with a gain of 9.58%. Conversely, Upper Tamakoshi Hydropower Ltd (UPPER) experienced the highest loss, totaling 10%.

    In sector indices, all six sector indices closed in positive territory today. The “Finance Index” recorded the highest gain of 2.32%, while the “Hotels And Tourism Index” witnessed a loss of 1.14%. This mixed performance across sectors reflects the varied market sentiment and activity observed during the trading session.

  • 3,25,000 Promoter Shares of Miteri Development Bank In Auction From Today

    3,25,000 Promoter Shares of Miteri Development Bank In Auction From Today


    Miteri Development Bank Limited (MDB) is currently undergoing a significant development as its existing promoter, Sunil Shrestha, has initiated the auction of 3,25,000 units of shares exclusively to existing promoter shareholders starting from today, the 29th of Falgun, 2080.

    In this offering, Sunil Shrestha aims to sell the specified number of promoter shares to the existing promoter shareholders, and only individuals falling under this category are eligible to participate in the bidding process. The auction window extends for a period of 35 days from the date of the notice publication, concluding on the 29th of Falgun.

    Interested shareholders are required to submit their bids either at the central office of Miteri Development Bank Limited, situated at Mahendrapath, Dharan, or at Prabhu Capital Limited, located in Kamaladi, Kathmandu. It’s important to note that if no bids are received from existing founder shareholders within the stipulated timeframe, the shares will subsequently be made available for auction to the general public.

    As of the current update, MDB is listed with a Last Traded Price (LTP) of Rs. 397.10. Simultaneously, MDBPO, another class of shares associated with the bank, has an LTP of Rs. 217.00. These market values provide a snapshot of the current financial standing and investor sentiment surrounding Miteri Development Bank Limited and its associated securities.

  • NLBBL and MMFDB Merger Finalized: NEPSE Issues Circular on Share Transaction Suspension

    NLBBL and MMFDB Merger Finalized: NEPSE Issues Circular on Share Transaction Suspension


    The final steps for the merger between Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) have recently been concluded. In accordance with Section 9 (3) of the Merger and Acquisition Directive 2079 Act, the Nepal Stock Exchange (NEPSE) has issued a circular, officially suspending share transactions of the company as outlined in Section 9 (3) of the Directory 2079.

    The merger agreement between NLBBL and MMFDB, sealed at a swap ratio of 1:1, has determined the formation of a new entity named “Nerude Mirmire Laghubitta Bittiya Sanstha Limited.” This new company is slated to commence joint operations on Falgun 30, marking the beginning of a consolidated business approach.

    Currently, NLBBL holds a paid-up capital of Rs. 73.20 Crores, while MMFDB’s paid-up capital stands at Rs. 66.57 Crores. The merger signifies a strategic combination of financial strengths and resources from both entities, aiming to enhance their overall market position and operational capabilities.

    In the current scenario, NLBBL and MMFDB are valued at Rs. 595.00 and Rs. 580.00, respectively, based on their Last Traded Prices (LTP). This reflects the market’s anticipation and response to the forthcoming merger, showcasing potential implications for the stock values of the involved entities.

  • NEPSE Index Surges 2.85%: Finance Ministry’s Commitment Boosts Confidence in Nepalese Stock Market

    NEPSE Index Surges 2.85%: Finance Ministry’s Commitment Boosts Confidence in Nepalese Stock Market


    The Nepal Stock Exchange (NEPSE) Index demonstrated a noteworthy surge, gaining 58.58 points or 2.85% compared to the previous day’s closing, concluding at 2,111.24 points. In the preceding trading session, the index had also experienced a positive trend, accumulating a gain of 22.10 points. The day’s trading activities commenced with the index opening at 2,065.63, touching an intraday low of 2,064.08, and reaching an intraday high of 2,111.24, ultimately settling at this peak as the closing figure.

    Acknowledging the pivotal role of the stock market in the nation’s economic development, the Finance Ministry emphasized the necessity for a collective effort to address prevailing issues and expedite initiatives. The unwavering commitment of the finance minister towards enhancing the stock market has created a positive atmosphere, fostering growth and confidence within the sector.

    In the course of today’s trading, a total of 305 different stocks were exchanged through 82,746 transactions. The volume of shares traded amounted to 10,609,597 with a total turnover of Rs. 4.55 Arba. The market capitalization stood at Rs. 33.18 Kharba, with a float market capitalization of Rs. 11.30 Kharba.

    SHIVAM CEMENTS LTD (SHIVM) emerged as the top performer in terms of turnover, reaching Rs. 37.19 crores and closing at a market price of Rs. 554.

    Five companies experienced a positive circuit today, contributing to the overall optimistic market sentiment. On the contrary, Himalayan 80-20 (H8020) recorded the highest loss of 2.57%, followed by Molung Hydropower Company Limited (MHCL) with a loss of 2.53%.

    Notably, all sector indices concluded in the green, with the “Life Insurance Index” leading the pack with the highest gain of 5.44%, while the “HydroPower Index” recorded the least gain at 0.99%. This robust performance across various sectors reflects a positive trajectory in the Nepalese stock market.

  • NEPSE Surges by 22.10 Points, Closing at 2,052.65 with Microfinance Leading Green Sector Rally

    NEPSE Surges by 22.10 Points, Closing at 2,052.65 with Microfinance Leading Green Sector Rally


    The Nepal Stock Exchange (NEPSE) Index recorded a significant gain of 22.10 points, equivalent to 1.08%, surpassing the previous day’s closing to settle at 2,052.65 points. In the preceding trading session, the index had registered a gain of 13.51 points.

    Commencing the trading day, the index opened at 2,032.58, touching an intraday low of 2,032.58, and achieving an intraday high of 2,061.20.

    Throughout the day’s trading activities, 304 different stocks were traded in 56,726 transactions. The volume of shares traded totaled 7,043,457, with a cumulative turnover of Rs. 2.92 Arba. The market capitalization stood at Rs. 32.26 Kharba, and the float market capitalization was Rs. 10.97 Kharba.

    SHIVAM CEMENTS LTD (SHIVM) emerged with the highest turnover, amounting to Rs. 22.93 crores, and concluded at a market price of Rs. 537.

    Among the gainers, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) and Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) exhibited the most substantial gain of 10%, followed by Mahuli Laghubitta Bittiya Sanstha Limited (MSLB) with an 8.72% gain.

    On the downside, Chirkhwa Hydropower Limited (CKHL) incurred the highest loss of 7.06%, trailed by Peoples Hydropower Company Limited (PHCL) with a loss of 6.95%.

    In the sector indices, only the HydroPower Index concluded in the red, while the “Microfinance Index” demonstrated the most significant gain of 4.21%. The “HydroPower Index” experienced a marginal loss of 0.12%

  • Nepal’s Macroeconomic Snapshot: Resilient Remittances, Forex Stability, and Balanced Trade Dynamics in the First Seven Months of 2023/24

    Nepal’s Macroeconomic Snapshot: Resilient Remittances, Forex Stability, and Balanced Trade Dynamics in the First Seven Months of 2023/24


    The Nepal Rastra Bank (NRB), the central bank of Nepal, has presented an overview of the country’s macroeconomic and financial situation based on data from the first seven months, ending mid-February of 2023/24.

    Overall

    According to NRB, the inflation rate was estimated at 5.01% on a year-on-year basis. The gross foreign exchange reserves reached USD 13.89 billion. Total imports decreased by 2.3%, exports by 7.1%, and the trade deficit by 1.8%. The NEPSE index stood at 2101.16.

    Inflation

    Year-on-year consumer price inflation moderated to 5.01% in mid-February 2024, compared to 7.88% a year ago. Wholesale price inflation stood at 2.82% in mid-February 2024.

    Import and Export

    Merchandise exports decreased by 7.1% to Rs. 86.83 billion, while merchandise imports decreased by 2.3% to Rs. 897.94 billion. The total trade deficit decreased by 1.8% to Rs. 811.11 billion.

    Services and Remittance

    Net services income remained at a deficit of Rs. 37.26 billion, while remittance inflows increased by 21.6% to Rs. 839 billion.

    Inter-bank Transaction

    BFIs inter-bank transactions amounted to Rs. 2872.44 billion. The price of oil decreased to USD 83.88 per barrel, and the price of gold increased to USD 2015.20 per ounce.

    Foreign Exchange Reserves

    Gross foreign exchange reserves increased to Rs. 1844.94 billion. Reserves held by NRB and other institutions increased, and the Indian currency’s share in total reserves stood at 22.6%.

    Exchange Rate

    The Nepalese currency depreciated by 1.05% against the US dollar.

    Nepal Government Expenditure and Revenue

    Total government expenditure stood at Rs. 686.75 billion, with revenue mobilization reaching Rs. 567.40 billion.

    Cash Balance of Government

    The cash balance at various accounts of the Government of Nepal (GoN) maintained with NRB stood at Rs. 215.26 billion.

    Banking

    Domestic credit increased by 3.2%, deposits at Banks and Financial Institutions (BFIs) increased by 7.0%, and private sector credit from BFIs increased by 4.1%.

    Interest Rates

    Average base rates of commercial banks, development banks, and finance companies stood at 9.06%, 11.13%, and 12.70%, respectively.

    Balance of Payments

    The Balance of Payments (BOP) remained at a surplus of Rs. 297.72 billion.

  • Upper Tamakoshi Hydropower Lists 10,590,000 Units of Right Shares on NEPSE

    Upper Tamakoshi Hydropower Lists 10,590,000 Units of Right Shares on NEPSE


    A total of 10,590,000 units of right shares from Upper Tamakoshi Hydropower Limited (UPPER) have been officially listed on the Nepal Stock Exchange (NEPSE). The company had previously issued a 1:1 ratio of right shares, amounting to 10,590,000 units, made available to its shareholders during the period from the 18th of Bhadra to the 22nd of Ashwin, 2080. However, only 8,888,047 units were subscribed by eligible shareholders, and the remaining 1,701,953 units of unsubscribed right shares were subsequently auctioned from the 13th to the 29th of Poush, 2080.

    The auctioned right shares, which did not find subscribers during the initial offering, were sold at a cut-off price of Rs. 147. As a result, the total paid-up capital of Upper Tamakoshi Hydropower Limited now stands at Rs. 21.18 billion. The listing of these 10,590,000 units of right shares on NEPSE has been completed, and Sunrise Capital Limited acted as the auction manager for the company.

    As of the latest information, the Last Traded Price (LTP) for UPPER on the stock exchange is Rs. 205.00.

  • Barahi Hydropower Receives Final Approval for 1:1 Right Share Issuance to Fund Key Projects

    Barahi Hydropower Receives Final Approval for 1:1 Right Share Issuance to Fund Key Projects


    The final approval from the Electricity Regulatory Commission has been granted to Barahi Hydropower Public Limited (BHPL) for the issuance of right shares in a 1:1 ratio for its shareholders. The hydropower company had proposed to issue 100% right shares based on its paid-up capital of Rs. 25 Crores. Following the adjustment of the proposed right shares, totaling 2,500,000 units, the company’s paid-up capital is set to double to Rs. 50 Crores.

    The primary purpose behind the issuance of these right shares is to fund the construction of two hydropower projects owned by BHPL – the Simkosh Khola Hydroelectric Project (3.45 MW) and Lower Theule Khola Hydropower Project (0.75 MW).

    It’s important to note that the company will proceed with the issuance of right shares to its shareholders only upon receiving approval from the Securities Board of Nepal (SEBON). As of the latest update, BHPL closed at Rs. 479.00.

  • NEPSE Records Double-Digit Gain, Led by Non-Life Insurance Sector – March 7, 2024

    NEPSE Records Double-Digit Gain, Led by Non-Life Insurance Sector – March 7, 2024


    The Nepal Stock Exchange (NEPSE) witnessed a notable increase of 13.51 points, equivalent to 0.67%, closing at 2,030.55 points compared to the previous day. This gain followed a positive trend from the previous trading session, where the index experienced an increase of 9.33 points.

    The trading day commenced with the NEPSE index opening at 2,020.95, reaching an intraday low of 2,017.00, and achieving an intraday high of 2,040.90.

    Throughout today’s trading activities, a total of 309 different stocks were traded in 47,699 transactions. The volume of shares traded amounted to 8,929,152, with a total turnover of Rs. 3.19 Arba. The market capitalization stood at Rs. 31.91 Kharba, and the float market capitalization was Rs. 10.90 Kharba.

    Nepal Reinsurance Company Limited Promoter Share (NRICP) took the lead in turnover, reaching Rs. 56.20 crores.

    Among the gainers in today’s trading, Peoples Hydropower Company Limited (PHCL) exhibited the highest increase of 10%, followed by Chirkhwa Hydropower Limited (CKHL) with a gain of 8.97%.

    Conversely, NIC ASIA Growth Fund-2 (NICGF2) faced the highest loss of 6.21%, trailed by Samling Power Company Limited (SPC) with a loss of 5.02%.

    In the sector indices, three sectors closed in the red today. The “Non-Life Insurance Index” recorded the highest gain of 1.56%, while the “Mutual Fund Index” experienced a loss of 0.79%.

  • Khani Khola Hydropower Company’s Rs. 46.57 Crore Right Share Issue Under SEBON Review

    Khani Khola Hydropower Company’s Rs. 46.57 Crore Right Share Issue Under SEBON Review


    The Securities Exchange Board of Nepal (SEBON) has included the right shares of Khani Khola Hydropower Company Limited (KKHC) in its preliminary review process. The company submitted the application to the board on Falgun 17, 2080.

    Khani Khola Hydropower Company Limited plans to issue 100% right shares, amounting to Rs. 46.57 Crores. This will involve the issuance of 4,657,143 (1:1) units of right shares to its existing shareholders. Currently, the company’s paid-up capital stands at Rs. 46.57 Crore. With the proposed right share adjustment, the paid-up capital is set to increase to Rs. 93.14 Crore.

    Citizens Capital Limited has been appointed as the issue manager for this process.