Tag: Economics

  • The Nepal Stock Exchange (NEPSE) Index recorded a decrease of 8.71 points, equivalent to 0.42%, from the previous day’s closing, settling at 2,049.28 points. In contrast, the trading session prior to this reported a gain of 27.90 points for the index. The market opened today with the index starting at 2058.57, reaching an intraday low of 2,046.05, and hitting an intraday high of 2,072.08. Throughout today’s trading activities, a total of 303 different stocks were traded in 108,403 transactions. The traded shares amounted to 16,052,101, generating a total turnover of Rs. 5.58 Arba. The market capitalization was reported at Rs. 31.83 Kharba, with a float market capitalization of Rs. 11.00 Kharba. Sonapur Minerals And Oil Limited (SONA) emerged with the highest turnover, reaching Rs. 33.45 crores, and closed at a market price of Rs. 508. Among today’s notable performers, Kalika Power Company Ltd (KPCL) and Singati Hydro Energy Limited (SHEL) experienced the highest gains, both at 10%. Following closely were Nepal Warehousing Company Limited (NWCL) at 9.99% and Muktinath Krishi Company Limited (MKCL) at 9.98%. Conversely, Siddhartha Premier Insurance Limited (SPIL) faced the highest loss of 6.56%. Regarding sector indices, only four sectors closed positively today. The “Trading Index” saw the most significant gain of 2.34%, while the “Others Index” experienced a loss of 3.70%.

    The Nepal Stock Exchange (NEPSE) Index recorded a decrease of 8.71 points, equivalent to 0.42%, from the previous day’s closing, settling at 2,049.28 points. In contrast, the trading session prior to this reported a gain of 27.90 points for the index. The market opened today with the index starting at 2058.57, reaching an intraday low of 2,046.05, and hitting an intraday high of 2,072.08. Throughout today’s trading activities, a total of 303 different stocks were traded in 108,403 transactions. The traded shares amounted to 16,052,101, generating a total turnover of Rs. 5.58 Arba. The market capitalization was reported at Rs. 31.83 Kharba, with a float market capitalization of Rs. 11.00 Kharba. Sonapur Minerals And Oil Limited (SONA) emerged with the highest turnover, reaching Rs. 33.45 crores, and closed at a market price of Rs. 508. Among today’s notable performers, Kalika Power Company Ltd (KPCL) and Singati Hydro Energy Limited (SHEL) experienced the highest gains, both at 10%. Following closely were Nepal Warehousing Company Limited (NWCL) at 9.99% and Muktinath Krishi Company Limited (MKCL) at 9.98%. Conversely, Siddhartha Premier Insurance Limited (SPIL) faced the highest loss of 6.56%. Regarding sector indices, only four sectors closed positively today. The “Trading Index” saw the most significant gain of 2.34%, while the “Others Index” experienced a loss of 3.70%.


    The Nepal Stock Exchange (NEPSE) Index recorded a decrease of 8.71 points, equivalent to 0.42%, from the previous day’s closing, settling at 2,049.28 points. In contrast, the trading session prior to this reported a gain of 27.90 points for the index.

    The market opened today with the index starting at 2058.57, reaching an intraday low of 2,046.05, and hitting an intraday high of 2,072.08.

    Throughout today’s trading activities, a total of 303 different stocks were traded in 108,403 transactions. The traded shares amounted to 16,052,101, generating a total turnover of Rs. 5.58 Arba. The market capitalization was reported at Rs. 31.83 Kharba, with a float market capitalization of Rs. 11.00 Kharba.

    Sonapur Minerals And Oil Limited (SONA) emerged with the highest turnover, reaching Rs. 33.45 crores, and closed at a market price of Rs. 508.

    Among today’s notable performers, Kalika Power Company Ltd (KPCL) and Singati Hydro Energy Limited (SHEL) experienced the highest gains, both at 10%. Following closely were Nepal Warehousing Company Limited (NWCL) at 9.99% and Muktinath Krishi Company Limited (MKCL) at 9.98%.

    Conversely, Siddhartha Premier Insurance Limited (SPIL) faced the highest loss of 6.56%.

    Regarding sector indices, only four sectors closed positively today. The “Trading Index” saw the most significant gain of 2.34%, while the “Others Index” experienced a loss of 3.70%.

  • Madhesh Province’s Financial Sector Witnesses Robust Growth: 13.25% Surge in Deposits and 4.68% Rise in Loans

    Madhesh Province’s Financial Sector Witnesses Robust Growth: 13.25% Surge in Deposits and 4.68% Rise in Loans


    The financial sector in Madhesh province is undergoing a notable expansion, as evidenced by the annual report on regional economic activity presented by the Nepal Rastra Bank for the fiscal year 2079/80. The report discloses a substantial 13.25% surge in total deposits and a 4.68% increase in loans, reflecting a positive trend in the banking landscape.

    According to the report, banks and financial institutions in Madhesh province have witnessed a significant rise in total deposits, reaching Rs. 2 kharba 96 arba 50 crore. This marks a noteworthy increase of 13.25% compared to the previous fiscal year. In contrast, the corresponding period in the preceding year saw a 5.35% growth, amounting to Rs. 2 kharba 61 arba 81 crore.

    The fiscal year’s review also indicates a 4.68% growth in loans extended by banks and financial institutions in Madhesh province, totaling Rs. 4 kharba 50 arba 21 crores. Although this represents a positive trajectory, the growth in loans during the same period of the previous year was more substantial at 16.70%, totaling Rs. 4 kharba, 30 arba, and 9 crore.

    Furthermore, the report highlights an increase in the total number of branches of banks and financial institutions, including microfinance entities, licensed by Nepal Rastra Bank in Madhesh Province. The current count stands at 1,745 branches during the year under review, reflecting growth from the 1,607 branches that were operational in the province during the corresponding period in the previous year.

  • Citizen Life Insurance Company Prepares for 7th AGM, Proposing a 5.2632% Dividend for FY 2079/80

    Citizen Life Insurance Company Prepares for 7th AGM, Proposing a 5.2632% Dividend for FY 2079/80


    Citizen Life Insurance Company Limited (CLI) has scheduled its 7th Annual General Meeting (AGM) for the 14th of Magh, 2080. The venue for the meeting is Amrapali Banquet, Naxal, Kathmandu, and it is set to commence at 11 AM on that day.

    One of the key agendas for the AGM is the endorsement of a 5.2632% dividend for the fiscal year 2079/80. This proposal comes from the 97th board of directors meeting held on Poush 16. The suggested dividend includes 5% bonus shares and a 0.2632% cash dividend, amounting to Rs. 18.75 crores and Rs. 98.68 lakhs, respectively. The company’s existing paid-up capital stands at Rs. 3.75 Arba.

    Additionally, the AGM will address other important matters, including the approval of the auditor’s report with profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 and the election of 2 directors from the public shareholding group are also on the agenda.

    The book closure date for entitlement to the dividend payout and attendance at the AGM is set for Poush 29. Shareholders who maintain their status before this date are eligible for the dividend.

  • Seize Your Share: Final Day for Dividends from SIFC, BNT, and MH

    Seize Your Share: Final Day for Dividends from SIFC, BNT, and MH


    Today marks the final opportunity for shareholders to seize the proposed 5.05% cash dividend declared by Shree Investment Finance Company Limited (SIFC). The company’s 29th Annual General Meeting (AGM) is scheduled for the 29th of Poush, 2080, at the office of the company registrar in Dillibazar, Kathmandu, beginning at 10 am. The decision to distribute the dividend, amounting to Rs. 4.95 crores, was made during the 336th meeting of the board of directors on Mangsir 26, derived from the paid-up capital of Rs. 98.16 crores. Shareholders registered before the book closure date of Poush 20 are eligible for the dividend and can participate in the AGM.

    Similarly, shareholders have until today to avail themselves of the 60% cash dividend proposed by Bottlers Nepal Terai Limited (BNT). The company has called its 37th AGM on the 27th of Poush, 2080, at Soaltee Hotel, Tahachal, Kathmandu, commencing at noon. A cash dividend of Rs. 60 per share has been suggested for the fiscal year 2079/80. Shareholders maintaining their status till Poush 19 can attend the AGM and qualify for the dividend payout.

    Furthermore, today is the last day for investors to secure the dividend proposed by Mandakini Hydropower Limited (MHL). The company’s 10th AGM is scheduled for Poush 29, 2080, at Foodland and Banquet, Battisputali, Kathmandu, starting at 10 AM. The board of directors, in a meeting on the 29th of Mangsir 2080, proposed a 5% dividend from the profit earned after FY 2079/80. The paid-up capital stands at Rs. 58.8 Crores, with a suggestion of 4.75% bonus shares and 0.25% cash dividend (including tax). The book closure for both the proposed dividend and AGM is on the 20th of Poush, 2080. Therefore, shareholders maintaining their status until the 19th of Poush are entitled to the dividend payout and can participate in the AGM.

  • Singati Hydro Energy Limited Announces 100% Right Share Issue: Last Trading Day for Eligibility Approaches

    Singati Hydro Energy Limited Announces 100% Right Share Issue: Last Trading Day for Eligibility Approaches


    Today marks the final trading day on the Nepal Stock Exchange (NEPSE) for investors to qualify for the entitlement of right shares from Singati Hydro Energy Limited (SHEL).

    Singati Hydro Energy Limited plans to issue 100% right shares valued at Rs. 1.45 Arba by offering 14,500,000 (1:1) units of right shares to its existing shareholders. Currently holding a paid-up capital of Rs. 1.45 Arba, the company anticipates a doubled paid-up capital of Rs. 2.90 Arba after the adjustment of the proposed right shares, each valued at 1.45 crore units.

    The lock-in period for SHEL is set to conclude on April 9, 2024. Following this, the reserved shares allocated to project-affected individuals, employees, and promoters will be released and become tradable on the secondary market.

    Muktinath Capital Limited has been appointed as the issue manager for this right share offering.

    Poush 22 has been specified as the book closure date. Therefore, investors who maintain their holdings until that day will be eligible to apply for the right shares.

     

  • Gold Prices Dip: Rs. 1,300 Drop per Tola, Silver Also Witnesses Decline

    Gold Prices Dip: Rs. 1,300 Drop per Tola, Silver Also Witnesses Decline


    Today witnessed a drop in the value of fine gold, with a decrease of Rs. 1,300 per tola. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the current trading rate for fine gold is Rs. 1,19,500 per tola. This marks a decline of Rs. 1,300 from the previous day’s trading price, which stood at Rs. 1,20,800 per tola.

    Similarly, Tejabi gold is now available at Rs. 1,18,950 per tola, indicating a decrease of Rs. 1,250 from the Wednesday price of Rs. 1,20,200 per tola. In addition to gold, silver has also seen a reduction in value, with the current market rate at Rs. 1,420 per tola. This compares to the closing rate of Rs. 1,450 per tola recorded the day before.

  • NEPSE Index Reports 1.45% Loss: Market Recap and Top Performers

    NEPSE Index Reports 1.45% Loss: Market Recap and Top Performers


    The Nepal Stock Exchange (NEPSE) Index concluded with a loss of 30.05 points, equivalent to 1.45%, compared to the previous day’s closing, settling at 2,030.10 points. In the preceding trading session, the index had experienced a loss of 8.75 points.

    Today’s market activity began with the index opening at 2,060.47. Throughout the day, it fluctuated, reaching an intraday low of 2,024.14 and achieving an intraday high of 2,061.92.

    During the day’s trading, a total of 305 different stocks were traded in 85,435 transactions. The volume of shares exchanged amounted to 11,185,712, with a cumulative turnover of Rs. 4.04 Arba. The market capitalization was recorded at Rs. 31.53 Kharba, with a float market capitalization of Rs. 10.89 Kharba.

    SHIVAM CEMENTS LTD (SHIVM) stood out with the highest turnover, reaching Rs. 16.11 crores, closing at a market price of Rs. 575.

    In terms of gains, Chirkhwa Hydropower Limited (CKHL) led with a 10% increase, followed by Muktinath Krishi Company Limited (MKCL) at 9.98% and Nepal Warehousing Company Limited (NWCL) at 9.97%.

    On the downside, Himalayan Hydropower Limited (HHL) experienced the most significant loss of 10%.

    In the sector indices, all sectors closed in the red. The “Hotels And Tourism Index” witnessed the highest loss at 3.21%, while the “Investment Index” incurred the least loss at 0.19%.

  • Auction Alert: Multipurpose Finance Company Limited Promoters Initiate Share Auction for Eligible Shareholders

    Auction Alert: Multipurpose Finance Company Limited Promoters Initiate Share Auction for Eligible Shareholders


    Bijaya Kumar Thakur and Dhirendra Thakur, the current promoters of Multipurpose Finance Company Limited (MPFL), have commenced the auction of their respective promoter shares. Bijaya Kumar Thakur is offering 26,000 units, while Dhirendra Thakur is putting up 30,000 units for auction. This auction, which began on the 18th of Poush, 2080, is exclusively open to existing promoter shareholders.

    A total of 56,000 units of promoter shares are available for auction, and only shareholders meeting the eligibility criteria are encouraged to participate. The auction period spans 15 days from the publication date of this notice, providing existing promoter shareholders with a window to bid for these shares.

    As of the latest information, the Last Traded Price (LTP) for MPFL currently stands at Rs. 320. Simultaneously, another financial instrument associated with Multipurpose Finance Company Limited, MPFLPO, holds an LTP of Rs. 150.00, as recorded on December 5th, 2023. These details serve as additional context for potential investors considering participation in the ongoing auction of promoter shares, adding pertinent information to aid their decision-making process.

  • Auction Alert: Multipurpose Finance Company Limited Promoters Offer 56,000 Units of Shares to Eligible Shareholders

    Auction Alert: Multipurpose Finance Company Limited Promoters Offer 56,000 Units of Shares to Eligible Shareholders


    Bijaya Kumar Thakur and Dhirendra Thakur, the current promoters of Multipurpose Finance Company Limited (MPFL), have initiated the auction of their promoter shares. Specifically, Bijaya Kumar Thakur is auctioning 26,000 units, while Dhirendra Thakur is auctioning 30,000 units of their respective shares. This auction, which began on the 18th of Poush, 2080, is exclusively open to existing promoter shareholders.

    A total of 56,000 units of promoter shares are up for auction, and only those shareholders who meet the eligibility criteria are encouraged to participate. The auction period spans 15 days from the date of this notice’s publication.

    As of the latest information, the Last Traded Price (LTP) for MPFL stands at Rs. 320. Simultaneously, MPFLPO, another financial instrument associated with Multipurpose Finance Company Limited, holds an LTP of Rs. 150.00, as recorded on December 5th, 2023. These details provide additional context for potential investors considering participation in the ongoing promoter share auction.

  • United Mewa Khola Hydropower Enters IPO Agreement with Citizens Capital for “Mewa Khola Jalbidhyut Ayojana” Project”

    United Mewa Khola Hydropower Enters IPO Agreement with Citizens Capital for “Mewa Khola Jalbidhyut Ayojana” Project”


    In a ceremony held at Dillibazar, Kathmandu, United Mewa Khola Hydropower Limited officially entered into an Initial Public Offering (IPO) Issue Management Agreement with Citizens Capital Limited. The agreement, signed by Mr. Aashish Thapa, the Executive Chairman of United Mewa Khola Hydropower Limited, and Mr. Sabir Bade Shrestha, the CEO of Citizens Capital Limited, outlines the collaboration for managing the IPO.

    Under the terms of the agreement, Citizens Capital Limited, a subsidiary of Citizens Bank International Limited, will take charge of overseeing the Initial Public Offering for United Mewa Khola Hydropower Limited. The IPO aims to issue ordinary shares to both affected locals and the general public.

    United Mewa Khola Hydropower Limited is currently engaged in the development of its project titled “Mewa Khola Jalbidhyut Ayojana” situated in Taplejung District. This hydropower project is designed to generate 50 megawatts of power. The signing of the IPO Issue Management Agreement marks a significant step for United Mewa Khola Hydropower Limited as it progresses towards making its shares available to the public through the IPO managed by Citizens Capital Limited.

  • CLI Proposes Inaugural Dividend of 5.2632% Following NEPSE Listing

    CLI Proposes Inaugural Dividend of 5.2632% Following NEPSE Listing


    Citizen Life Insurance Company Limited (CLI) is planning to issue its inaugural dividend of 5.2632% for the fiscal year 2079/80, following its recent listing on the Nepal Stock Exchange (NEPSE). The decision was made during the 97th board of directors meeting on Poush 16, where a dividend distribution of 5% in bonus shares and 0.2632% in cash dividends was proposed. This translates to bonus shares valued at Rs. 18.75 crores and cash dividends, including tax, amounting to Rs. 98.68 lakhs. The company’s current paid-up capital is Rs. 3.75 Arba.

    It is essential to note that the distribution of this dividend is contingent on approval from the Nepal Insurance Authority and subsequent endorsement at the company’s upcoming Annual General Meeting (AGM). As of the latest available information, the company’s closing stock price is Rs. 529.

    In summary, CLI, after being listed on NEPSE, has put forth its first dividend proposal for FY 2079/80, comprising bonus shares and cash dividends, subject to regulatory approval and AGM endorsement. The total dividend amounts to Rs. 18.75 crores in bonus shares and Rs. 98.68 lakhs in cash dividends, with a paid-up capital of Rs. 3.75 Arba.