United Modi Hydropower Limited (UMHL) has announced its intention to issue right shares in the ratio of 1:1 or 100% right shares, as per the decision made during the recent Board of Directors meeting on Mangsir 13. The proposal aims to release 100% right shares on the existing paid-up capital of Rs. 1.23 Arba, with the objective of securing funds for investment in its ongoing hydropower projects. If approved, this issuance will lead to an additional 12,305,000 units of right shares, causing the company’s paid-up capital to surge to Rs. 2.46 Arba. However, the issuance is contingent upon obtaining approvals from regulatory bodies, specifically the Electricity Regulatory Commission and the Securities Board of Nepal (SEBON), followed by endorsement at the upcoming Annual General Meeting (AGM) of the company. UMHL’s closing stock price stood at Rs. 184 in the latest trading session.
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Sunrise Capital’s Mutual Funds Report Declines in NAV for Kartik
Sunrise First Mutual Fund (SFMF) has disclosed its monthly Net Asset Value (NAV) report for Kartik, indicating a NAV of Rs. 10.62, a slight decrease from the previous month’s Rs. 10.70. The closed-end fund, with a 10-year maturity, began with Rs. 86 crores and has invested in listed shares, bonds, debentures, public issues, rights issues, bonus shares, and fixed deposits. SFMF’s bank balance is reported at Rs. 8.37 crores, and it recorded a net loss of Rs. 95.26 lakhs in Kartik, compared to a net loss of Rs. 27.24 lakhs in the previous month.
Similarly, Sunrise Focused Equity Fund (SFEF), another closed-end fund with a 10-year maturity, shared its monthly NAV report for Kartik, revealing a NAV of Rs. 9.63, slightly lower than the previous month’s Rs. 9.65. With a fund size of Rs. 1 Arba, SFEF invested in listed shares, public issues, and fixed deposits. The fund’s bank balance is reported at Rs. 21.54 crores, and it incurred a net loss of Rs. 5.10 crores in Kartik, compared to Rs. 4.81 crores in the previous month.
Sunrise Capital Limited also released the NAV report for “Sunrise Bluechip Fund (SBCF),” which commenced with a fund size of Rs. 1.25 Arba. SBCF reported a NAV of Rs. 9.26 for Kartik, slightly down from the previous month’s Rs. 9.33. The fund invested in listed shares, debentures, public issues, and fixed deposits, with a bank balance of Rs. 14.13 crores. SBCF recorded a net loss of Rs. 20.79 crores in Kartik, compared to Rs. 19.90 crores in the previous month.
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NEPSE Index Records a 0.96% Decline, Closing at 1,858.53 Points
The Nepal Stock Exchange (NEPSE) witnessed a decline, with the index experiencing a loss of 18.06 points, equivalent to 0.96%, compared to the previous day’s closing, concluding at 1,858.53 points. This follows the trend from the preceding trading day, which incurred a loss of 17.93 points.
The trading day commenced with the index opening at 1874.24 and fluctuated between an intraday low of 1,851.32 and an intraday high of 1,876.40.
During the session, 289 different stocks were traded through 37,031 transactions, resulting in a total turnover of Rs. 1.32 arba. The float market capitalization amounted to Rs. 9.98 Kharba, and the overall market capitalization was Rs. 28.65 Kharba.
Notably, Nepal Insurance Co. Ltd Promoter Share (NICLPO) recorded the highest turnover for the day at Rs. 11.67 crores, with a market price of Rs. 423.
The day’s gainers were led by Ru Ru Jalbidhyut Pariyojana Limited (RURU), posting an increase of 5.63%. Conversely, Vijaya laghubitta Bittiya Sanstha Ltd. (VLBS), Mountain Energy Nepal Limited (MEN), and United IDI Mardi RB Hydropower Limited. (UMRH) each suffered losses of 10%.
With the exception of “Mutual Fund,” all sector indices concluded in the red. The “Mutual Fund” sector experienced the most gain, registering an increase of 0.11%, while the “HydroPower Index” witnessed a loss of 1.73%.
The trading session reflected ongoing market dynamics, with investors closely monitoring sectoral performances and individual stock movements.
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Nepalese Gold Market Soars to Record Highs, Fine Gold Reaches Unprecedented Rs. 119,300 per Tola
“The Nepalese gold market experiences an unprecedented surge as prices hit an all-time high on November 29, 2023. The Federation of Nepal Gold and Silver Dealers’ Association reports a remarkable single-day gain of Rs. 1600, driving fine gold to an extraordinary rate of Rs. 119,300 per tola. Just a day earlier, on November 28, 2023, fine gold had already reached a record high of Rs. 1,17,700 per tola. Tejabi gold, another sought-after variant, has also experienced a substantial increase, currently trading at Rs. 118,750 per tola, up from its previous rate of Rs. 1,17,150.
The surge in gold prices commenced on November 27, 2023, with both fine gold and tejabi gold reaching unprecedented highs at Rs. 1,17,700 and Rs. 1,17,150 per tola, respectively. In contrast to the gold rally, the price of silver has also seen a notable uptick, gaining Rs. 20 to trade at Rs. 1,520 per tola.
This surge in gold prices in the Nepalese market is reflective of the global trend, with the current global price of gold standing at USD $2,045.60 per ounce. Simultaneously, silver is being exchanged at $24.98 per ounce on the global stage.”
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Sarbottam Cement Launches Book-Building IPO, Inviting General Public Participation
“Sarbottam Cement Limited Initiates Book-Building IPO for General Public Participation”
Sarbottam Cement Limited is gearing up to launch its Initial Public Offering (IPO) to the general public, employing the book-building method for the first time. The IPO price for common investors is fixed at Rs 360.90 per share, requiring a minimum application of 50 units, with investors expected to allocate at least Rs 18,045 to participate.Governed by book-building guidelines, the ‘cut-off price’ during primary share distribution to institutional investors was set at Rs 401 for Sarbottam Cement. Following these guidelines, shares are made available to the general public at a 10% reduced rate, specifically Rs 360.90 per share for common investors.
Investors must maintain a minimum balance of at least Rs 18,045 in their bank accounts; otherwise, the application will be automatically canceled. Sarbottam Cement’s IPO involves the issuance of 60 lakh units of shares, constituting 12.9033% of the total issued capital of Rs 4.65 arba. Out of this, 40% (24 lakh units) is allocated for qualified institutional investors, and the remaining 60% (36 lakh units) is available to the general public, including employees, foreign migrant workers, mutual fund schemes, and project-affected local people.
This move signifies a significant step in Sarbottam Cement’s financial journey, providing common investors with an opportunity to participate in the growth of the cement industry. As the IPO unfolds, market enthusiasts closely monitor the dynamics of this offering, offering a stake in Sarbottam Cement’s future endeavors. The company plans to issue IPOs for the general public by the first week of Poush.
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NEPSE Faces Challenges: Technical Glitch and Consecutive Declines Mark Trading Day
Due to technical difficulties arising from a power outage impacting the NEPSE system, trading on the Nepal Stock Exchange (NEPSE) experienced a delay of 24 minutes, ultimately leading to an early market closure at 3:24 pm instead of the usual closing time. This interruption occurred on the third consecutive day of declining trends in the NEPSE index, initiated earlier in the week.
The NEPSE index recorded a loss of 17.93 points, or 0.94%, settling at 1,876.60 points for the day. The trading session commenced at 11:24 am, with an opening index of 1894.79. Throughout the day, the index fluctuated, reaching an intraday low of 1,871.93 and a high of 1,907.07.
In today’s session, 286 different stocks were traded in 34,747 transactions, with a total turnover of Rs. 1.23 arba and a float market capitalization of Rs. 10.08 Kharba. The market capitalization stood at Rs. 28.93 Kharba.
Sonapur Minerals And Oil Limited (SONA) led in turnover for the fourth consecutive day, finishing at a market price of Rs. 295.50 with a turnover of Rs. 6.28 crores.
While Vijaya laghubitta Bittiya Sanstha Ltd. (VLBS) emerged as the highest gainer at 9.88%, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) experienced the most significant loss of 9.98%. Among the sector indices, only the “Others Index” saw a gain of 0.16%, with the “Manufacturing And Processing” index encountering a loss of 2.13%.
The NEPSE Board continues to grapple with challenges, including power-related disruptions and consecutive days of declining market performance, prompting anticipation and scrutiny from market participants.
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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 Index Witnesses Slight Decline of 0.11% Amidst Mixed Sector Performances
The Nepal Stock Exchange (NEPSE) Index experienced a marginal decline of 2.17 points or 0.11% compared to the previous day’s closing, settling at 1,894.53 points. The preceding trading day had witnessed a loss of 11.27 points for the index. The trading session commenced with the index opening at 1896.4, reaching an intraday low of 1,885.23, and peaking at an intraday high of 1,902.63.
During today’s session, 290 different stocks were traded in 47,333 transactions, involving the exchange of 4,727,902 shares. The total turnover amounted to Rs. 1.28 arba. The float market capitalization and total market capitalization were Rs. 10.19 Kharba and Rs. 29.21 Kharba, respectively.
Sonapur Minerals And Oil Limited (SONA) led in turnover for the third consecutive day, concluding at a market price of Rs. 301.20 with the highest turnover of Rs. 8.49 crores.
Buddha Bhumi Nepal Hydropower Company Limited (BNHC) emerged as the top gainer of the day, achieving a growth of 9.97%. Conversely, Narayani Development Bank Limited (NABBC) suffered the most significant loss with a decline of 5.33%.
With the exception of “Finance Index,” “Hotels And Tourism Index,” “HydroPower Index,” “Manufacturing And Processing,” and “Mutual Fund,” all other sector indices closed in the red. The “Hotels And Tourism Index” experienced the most significant gain of 3.33%, while the “Trading Index” incurred a loss of 0.99%.
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Uncertainty Surrounds NEPSE 30 Implementation Date as Board of Directors Meeting Faces Delays
In a development causing anticipation among stakeholders, the decision on the implementation date for the NEPSE 30 index, proposed a month and a half ago in the Nepal Stock Exchange (NEPSE) Board of Directors (BoD), is facing unexpected delays. Despite completing all necessary procedures, the absence of a crucial BoD meeting has become a hurdle in finalizing the NEPSE 30 implementation date.
The Board of Directors, considered pivotal in determining the NEPSE 30 implementation date, is currently uncertain about its meeting schedule. Sources suggest that Chairman Bhupal Baral has not communicated information regarding the meeting schedule due to his busy agenda, causing the delay. However, NEPSE has stated that the next Board of Directors meeting will decide the fate of the NEPSE 30 implementation.
Earlier, the BoD established the Index Operation and Management Committee, led by director Anuj Dahal, to oversee the process. This committee, in line with the ‘Index Development, Operation and Management Internal Procedures, 2080’, comprises key NEPSE executives and is authorized to invite experts if needed. The committee focuses on managing existing indices, developing new ones, and creating market tools through the index.
After thorough study and examination, the committee proposed a date for the NEPSE 30 implementation to the NEPSE Board of Directors. Upon approval, NEPSE will pave the way for the immediate implementation of NEPSE 30. Currently, internal testing of the NEPSE 30 index is in progress.
Stakeholders are eagerly awaiting updates on the meeting schedule and decisions from the NEPSE Board of Directors, hoping for resolution to uncertainties surrounding the NEPSE 30 implementation.
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Unilever Nepal Limited Offers 1580% Cash Dividend in Celebration of 30th Anniversary
Today marks the final opportunity for shareholders to avail themselves of the 1580% cash dividend offered by Unilever Nepal Limited (UNL). The company, in conjunction with this, has scheduled its 30th Annual General Meeting (AGM) on the 26th of Mangsir, 2080.
The decision to propose the significant cash dividend was made during the 179th Board of Directors meeting, conducted virtually on October 13, 2023. The Board approved the audited Annual Accounts for the fiscal year 2079/80 and recommended the distribution of NPR 1580 per share as a dividend from the available profit. This dividend distribution is a notable event, marking the culmination of 30 years of Unilever Nepal Limited’s successful journey.
The book closure date for entitlement to the dividend and AGM participation is from the 12th to the 26th of Mangsir. Shareholders holding their positions until today are eligible for the dividend payout. As of the latest update, UNL is listed at an Last Traded Price (LTP) of Rs. 42,900.
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Promoter Share Auctions Initiated by Suryodaya Womi and Asha Laghubitta: Opportunities for Existing Shareholders
The current promoter of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) has initiated an auction for 60,617 units of shares, targeting existing promoter shareholders. Govinda Sharma and Saraswati Joshi plan to sell 31,266 and 29,351 units, respectively. Interested parties are invited to bid within 35 days from the notice’s publication date. Bids can be submitted at the corporate office in Lalitpur or Kumari Capital Limited in Kathmandu. If no bids are received within the specified timeframe, the shares will be opened for auction to the general public. SWMF closed at Rs. 562, and SWMFPO has an LTP of Rs. 225.55 as of October 8, 2023.
In a similar move, the existing promoter of Asha Laghubitta Bittiya Sanstha Limited (ALBSL) is auctioning 87,014 units of shares to its current promoter shareholders. The auction, open from 11th Mangsir, 2080, invites interested shareholders to bid within 35 days from the notice’s publication. Bids should be submitted at the company’s central office in Kavrepalanchok. If no bids are received from existing shareholders within the specified timeframe, the shares will later be auctioned to the general public or institutions. ALBSL currently has an LTP of Rs. 600, while ALBSLP has an LTP of Rs. 323.75 as of November 2, 2023.
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Mirmire Laghubitta Bittya Sanstha Lists 123,816.45 Units of FPO Shares on NEPSE
A total of 123,816.45 units of Follow-on Public Offering (FPO) shares of Mirmire Laghubitta Bittya Sanstha Limited (MMFDB) have been officially listed on the Nepal Stock Exchange (NEPSE). These FPO shares, each with a face value of Rs 100, were made available to the general public during the period from the 25th to the 30th of Ashwin. The microfinance company conducted this offering from its paid-up capital of Rs. 65.33 crores. The shares are now actively trading on the NEPSE platform.
As of the latest available information, Mirmire Laghubitta Bittya Sanstha Limited (MMFDB) is currently listed on the stock exchange with a Last Traded Price (LTP) of Rs. 530. This development represents a significant step for the microfinance institution as it expands its market presence and engages with a broader base of investors through the FPO mechanism.
It’s important to note that the FPO process allows companies to raise additional capital by issuing new shares to the existing shareholders and the general public. This can contribute to the company’s growth initiatives, expansion plans, or strengthening its financial position. The listing of these FPO shares on NEPSE provides investors with a platform to buy and sell these shares in the secondary market, contributing to the overall liquidity and dynamism of the stock exchange.