Tag: Development

  • 35,000 Profit in GRDBL(Green development Bank)

    35,000 Profit in GRDBL(Green development Bank)


    35,000 Profit in GRDBL(Green development Bank)

    View on r/NepalStock by BlueberryAny7530

  • 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.

  • Ghalemdi Hydro’s 200% Rights & Miteri Bank’s 9.50% Bonus Shares Listed on NEPSE

    Ghalemdi Hydro’s 200% Rights & Miteri Bank’s 9.50% Bonus Shares Listed on NEPSE


     

    NEPSE has listed 1,10,00,000 units of right shares for Ghalemdi Hydro Limited (GHL). Previously, GHL issued a 1:2 ratio right share, totaling the same number of units, from 10th Mangsir to 16th Poush, 2080. However, only 77,82,276 units were taken up by eligible shareholders, leaving 32,17,724 units unsubscribed. These remaining shares were auctioned off from 9th Magh to 23rd Magh, 2080.

     

  • 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.

     

  • NIMB Ace, Mount Everest Power: 2.58M shares (30%) for 12MW Dudhkunda Khola Project

    NIMB Ace, Mount Everest Power: 2.58M shares (30%) for 12MW Dudhkunda Khola Project


    NIMB Ace Capital Limited and Mount Everest Power Development Limited have entered into an agreement for the issuance of 2,580,000 ordinary shares. These shares will be made available to local residents in areas affected by the project and the general public, constituting 30 percent of the total issued capital. The signing ceremony included Mr. Arjun Prasad Poudel, the Chairman of Mount Everest Power Development Limited, and Sachindra Dhungana, the General Manager of NIMB Ace Capital Limited.

    The focus of Mount Everest Power Development Limited is on the ongoing construction of the Dudhkunda Khola Hydroelectricity Project, boasting a 12 Mega Watt capacity. This project utilizes water from the Dudhkunda River and is situated in the Solukhumbu district. Remarkably, more than 80 percent of the construction work for this hydroelectric project has already been completed.

    Under the terms of the agreement, NIMB Ace Capital Limited will provide Securities Issuance and Sales Manager services. This role involves overseeing all operations related to the public issue and management of ordinary shares for Mount Everest Power Development Limited. The collaboration aims to facilitate the allocation of shares to local residents and the broader public, contributing to the development and progress of the Dudhkunda Khola Hydroelectricity Project.

  • Shangri-la Development Bank Promoter Shares Auction Commences Today!

    Shangri-la Development Bank Promoter Shares Auction Commences Today!


     

    Shangri-la Development Bank Limited (SADBL) presents a unique investment opportunity as its existing promoters initiate the auction of 1,76,040 units of shares to both the general public and institutions starting from the 8th of Magh, 2080. In this exclusive offering, Nawaraj Bajagain is set to sell 5,030 units, while Iman Bahadur Gurung plans to divest 1,71,010 units of promoter shares to interested individuals. This auction provides potential investors with a chance to acquire shares in a well-established bank, and interested parties are invited to submit their bids within the next 15 days from the publication date of this notice. Don’t miss out on this limited-time opportunity to become a part of Shangri-la Development Bank’s growth and success.

  • Commercial and Development Banks’ Performance in Nepal for FY 2080/81

    Commercial and Development Banks’ Performance in Nepal for FY 2080/81


    Nepal Rastra Bank has recently published data outlining the financial performance of both commercial banks and development banks for the initial five months of the ongoing fiscal year 2080/81, concluding in Mangsir.

    Concerning commercial banks, the combined net profit for the first five months of the fiscal year 2080/81 in Nepal reached Rs. 28.36 Arba. Noteworthy is Nabil Bank’s leading position, having attained the highest net profit of Rs. 2.96 Arba. Global IME Bank closely followed with earnings of Rs. 2.73 Arba, securing the second position, while NIMB claimed the third spot with a net profit of Rs. 2.6 Arba during this period. In contrast, Agricultural Development Bank reported the lowest net profit among commercial banks at Rs. 12.5 Crores.

    Turning to development banks, despite three out of the 17 banks incurring losses, the overall sector in Nepal achieved a net profit of Rs. 1.9 Arba. Muktinath Bikas Bank exhibited outstanding performance with an impressive net profit of Rs. 45.93 crore, closely followed by Garima Bikas Bank with earnings of Rs. 38.67 crore. Conversely, Corporate Development Bank and Narayani Development Bank reported the lowest profits in the sector, with earnings of Rs. 1.09 Crores and Rs. 10.7 Lakhs, respectively. Notably, Saptakoshi, Salapa, and Excel Development Bank faced challenges as they experienced net losses during the same period.

  • NEPSE Index Gains 1.00%, Led by Strong Performances in Various Sectors

    NEPSE Index Gains 1.00%, Led by Strong Performances in Various Sectors


    The Nepal Stock Exchange (NEPSE) Index displayed a positive trend, registering a gain of 20.62 points or 1.00% compared to the previous day’s closing, concluding at 2,080.12 points. This follows a previous trading day where the index experienced a gain of 36.57 points.

    The market opened today with the index starting at 2063.56, fluctuating between an intraday low of 2,063.42 and reaching an intraday high of 2,098.04.

    In the course of today’s trading activities, a diverse range of 309 stocks were traded in 104,619 transactions. The total volume of shares traded amounted to 17,949,562, with an overall turnover of Rs. 6.11 Arba. The market capitalization stood at Rs. 32.67 Kharba, with a float market capitalization of Rs. 11.28 Kharba.

    Sonapur Minerals And Oil Limited (SONA) emerged as the leader in turnover, reaching Rs. 21.49 crores and closing at a market price of Rs. 493.

    Similarly, ten companies experienced positive circuit movements during the day. Conversely, Dhaulagiri Laghubitta Bittiya Sanstha Limited (DLBS) faced the highest loss, amounting to 8.19%.

    In terms of sector indices, only three sectors closed in the red today. Notably, the “Development Bank Index” displayed the most substantial gain of 5.21%, while the “Hydropower Index” recorded a marginal loss of 0.45%.

  • Narayani Development Bank (NABBC) Granted SEBON Approval for Rs. 26.24 Crores Rights Offering

    Narayani Development Bank (NABBC) Granted SEBON Approval for Rs. 26.24 Crores Rights Offering


    The Securities Board of Nepal (SEBON) has granted approval to Narayani Development Bank Limited’s (NABBC) rights offering proposal on Poush 19, 2080. The bank is set to issue 100% right shares with a total value of Rs. 26.24 Crores, distributing 26,24,676 units (1:1) of right shares among its existing shareholders. Currently holding a paid-up capital of Rs. 26.24 crore, the company’s capital will witness an increment to Rs. 52.4 Crores after the adjustment for the proposed right shares. The responsibility of managing the issue has been entrusted to Global IME Capital Limited, with the application initially submitted to the board on Bhadra 9, 2079. As of the latest update, NABBC’s closing stock price stands at Rs. 396.10.

  • Red flag about Corporate Development Bank (CORBL)

    Red flag about Corporate Development Bank (CORBL)


    As a concerned citizen of Nepal, I wish to bring attention to certain aspects of Corporate Development Bank (CORBL) that merit careful consideration. While I am not providing financial advice or acting as an investor, I believe these concerns deserve further scrutiny.

    1) Allegations Against Board Members:

    Some members of CORBL’s board, notably the Ansari brothers, face troubling accusations. The composition of the board, primarily consisting of family and friends, raises questions about the following issues:

    a. Tax Evasion: Basruddin Ansari is alleged to have evaded a substantial amount, approximately 90 million NRS, in taxes. This prompts concerns about ethical conduct and financial transparency.

    b. Underworld Connections: Basruddin Ansari’s alleged ties to Dawood Ibrahim intensify worries about potential involvement in illegal activities, posing a risk to the bank’s reputation.

    Sources:

    [https://myrepublica.nagariknetwork.com/news/umls-birgunj-mayoral-candidate-evaded-rs-90m-in-taxes/](https://myrepublica.nagariknetwork.com/news/umls-birgunj-mayoral-candidate-evaded-rs-90m-in-taxes/)

    [https://www.hindustantimes.com/world-news/alleged-dawood-ibrahim-aide-in-nepal-is-a-mayoral-candidate-in-town-near-indian-border/story-Z05iPp0TaIngmzPUTsZKUI.html](https://www.hindustantimes.com/world-news/alleged-dawood-ibrahim-aide-in-nepal-is-a-mayoral-candidate-in-town-near-indian-border/story-Z05iPp0TaIngmzPUTsZKUI.html)

    2)Financial Red Flags:

    Recent financial indicators of CORBL are disconcerting:

    a. Net Loss: The bank incurred a net loss in the latest annual report, signaling financial instability and potential risks for investors.

    b. Negative ROE: The negative Return on Equity reflects the bank’s struggle to generate returns for shareholders.

    c. High NPL Ratio: An increasing non-performing loan ratio suggests challenges in recovering debts, raising concerns about potential loan defaults and jeopardizing financial stability.

    Source: Financial report

    3)Lacking Website and Limited Reach:

    CORBL’s website raises concerns:

    a. Outdated and Unprofessional: Even though the company is worth 186 crore(approx), the website exhibits poor design, broken links, outdated information, and a lack of transparency, casting doubt on professionalism and commitment to user experience.

    b. Limited Reach: With only four branches concentrated in Birgunj, CORBL has a notably smaller footprint than other banks, potentially impeding growth and market penetration.

    Source: [https://www.corporatebank.com.np/](https://www.corporatebank.com.np/)

    While these issues do not conclusively prove wrongdoing, they collectively present a troubling image of CORBL. I encourage investors and stakeholders to conduct thorough research and seek professional advice before making any decisions.

    Disclaimer: This report is for informational purposes only and does not constitute financial advice. It relies on publicly available information and does not claim to possess conclusive evidence for all allegations.

    View on r/NepalStock by badri_