Tag: Economics

  • Nepal’s 7-Month Trade Snapshot: Imports Dip 2.31%, Trade Deficit Narrows 1.77%, Exports Down 7.07%

    Nepal’s 7-Month Trade Snapshot: Imports Dip 2.31%, Trade Deficit Narrows 1.77%, Exports Down 7.07%


    In the initial seven months of the current fiscal year, spanning from Shrawan to Magh in the Nepali calendar, Nepal’s imports reached Rs. 8.97 Kharba, indicating a slight decrease of 2.31% compared to the corresponding period in the previous year, where imports totaled Rs. 9.19 Kharba.

    During this period, the trade deficit has also witnessed a reduction of 1.77%, amounting to Rs. 8.11 Kharba in the current fiscal year, as opposed to Rs. 8.25 Kharba recorded in the same timeframe of the previous year.

    Simultaneously, there has been a notable decline in Nepal’s exports, experiencing a 7.07% decrease. The total value of exported goods and services for the first seven months of the current fiscal year amounted to Rs. 86.83 Arba, in contrast to the Rs. 93.43 Arba worth of exports during the equivalent period in the preceding year. These statistics, derived from data released by the Customs Department, highlight the dynamics of Nepal’s trade performance, showcasing a nuanced interplay of import and export figures in the given fiscal timeframe.

  • Gold Prices Soar by Rs. 400 per Tola, Silver Up by Rs. 5: Market Trends on the Rise

    Gold Prices Soar by Rs. 400 per Tola, Silver Up by Rs. 5: Market Trends on the Rise


    The current day witnessed a notable rise in the price of gold, with a Rs. 400 increase per tola compared to the previous day’s trading value. As reported by the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is presently being traded at Rs. 1,18,400 per tola. This marks a Rs. 400 surge from the yesterday’s trading price of Rs. 1,18,000 per tola.

    Similarly, Tejabi gold is available in the market today at Rs. 1,17,850 per tola, reflecting a significant increase of Rs. 850 in comparison to the previous day’s price of Rs. 1,17,450 per tola.

    In addition to the surge in gold prices, silver has also experienced an upward trend, registering a Rs. 5 increase per tola. The current market rate for silver stands at Rs. 1,415 per tola, in contrast to the closing rate of Rs. 1,410 per tola recorded in the previous day’s trading. This signifies a positive shift in the precious metal market, with both gold and silver prices experiencing notable increments.

  • Promoter Share Auction: Nepal Reinsurance Company Units on Bid by Leading Companies

    Promoter Share Auction: Nepal Reinsurance Company Units on Bid by Leading Companies


    IGI Prudential Insurance Limited, Global IME Capital Limited, Hathway Investment Nepal Limited, and IME Limited are conducting auctions for the promoter shares of Nepal Reinsurance Company Limited (NRIC). The total units for auction include 20,00,000 for IGI Prudential Insurance Limited, 1,87,434 for Global IME Capital Limited, 6,50,000 for Hathway Investment Nepal Limited, and 7,50,000 for IME Limited. The auction period spans from the 8th of Falgun to the 12th of Chaitra, 2080.

    The minimum bid rate for the auction is set at Rs. 280. Additionally, each of the companies has established a minimum bid quantity for their respective promoter shares: 20,00,000 units for IGI Prudential Insurance Limited, 1,87,434 units for Global IME Capital Limited, 6,50,000 units for Hathway Investment Nepal Limited, and 7,50,000 units for IME Limited.

    To oversee and manage the auctions, Global IME Capital Limited has been appointed as the auction manager for all four transactions. Interested parties have the opportunity to participate in the auctions within the specified timeframe, aiming to acquire the promoter shares of NRIC at the set minimum bid rate.

  • NEPSE Witnessed Minimal Loss of 0.08% to Close at 2,033.06 Levels While Turnover Shrinks to Rs. 3.11 Arba

    NEPSE Witnessed Minimal Loss of 0.08% to Close at 2,033.06 Levels While Turnover Shrinks to Rs. 3.11 Arba


    The Nepal Stock Exchange (NEPSE) Index underwent a slight decrease, diminishing by 1.76 points or 0.08% compared to the preceding day’s closing, settling at 2,033.06 points. It is noteworthy that the index had previously suffered a more substantial loss of 27.21 points in the preceding trading session.

    As today’s trading commenced, the market initiated with the index at 2,034.79 points, reaching an intraday peak of 2,043.50 and encountering a low of 2,025.89. Ultimately, the market concluded at 2,033.06 levels.

    In the course of today’s trading session, a total of 314 different stocks were traded through 76,803 transactions. The volume of shares traded amounted to 9,342,546, leading to a turnover of Rs. 3.11 Arba. The market capitalization was reported at Rs. 31.95 Kharba, accompanied by a float market capitalization of Rs. 10.96 Kharba.

    Himalayan Reinsurance Limited (HRL) emerged as the leader in turnover, accumulating Rs. 31.73 crores and concluding the day with a market price of Rs. 650.

    While Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) and Bottlers Nepal (Balaju) Limited (BNL) experienced positive circuits, GreenLife Hydropower Limited (GLH) witnessed the most significant decline, incurring a loss of 10%.

    In terms of sector indices, five sectors concluded in the green today, with the “Others Index” experiencing the highest gain of 1.10%, while the “Microfinance Index” recorded a loss of 0.74%.

     

  • First Microfinance Laghubitta Bittiya Sanstha Limited Initiates Auction of 1,20,000 Promoter Shares Managed by Prabhu Bank Limited

    First Microfinance Laghubitta Bittiya Sanstha Limited Initiates Auction of 1,20,000 Promoter Shares Managed by Prabhu Bank Limited


    The current promoter of First Microfinance Laghubitta Bittiya Sanstha Limited (FMDBL) has initiated the sale of 1,20,000 units of promoter shares through an auction, which commenced on 7th Falgun and will continue until 11th Chaitra, 2080.

    The auction involves the sale of the entire 1,20,000 units of promoter shares, and interested promoter shareholders or institutions have the opportunity to participate by placing bids. The minimum bid rate set for the auction is Rs. 315. While bidders can submit bids for the entire share issue, they must adhere to the guidelines set by the Nepal Rastra Bank, ensuring that the specified quantity of shares per entity is not exceeded.

    The auction management is entrusted to Prabhu Bank Limited. It is essential for potential bidders to take note of the rules and regulations governing the auction process. As of the latest information, the Last Traded Price (LTP) of FMDBL stands at Rs. 606. This auction provides interested parties with the chance to acquire promoter shares at the prevailing market conditions, with Prabhu Bank Limited overseeing the transparent and fair conduct of the auction proceedings.

  • United Ajod Insurance Limited’s 30th AGM: Dividend Approval, Financial Reports, and New Board Elections Unveiled

    United Ajod Insurance Limited’s 30th AGM: Dividend Approval, Financial Reports, and New Board Elections Unveiled


    United Ajod Insurance Limited (UAIL) held its 30th Annual General Meeting on Sunday, 6th Falgun, 2080, at Anmol Banquet, Shankhamul, Kathmandu. The meeting covered various key agenda items, including the approval of annual reports from the Management Committee, the financial performance for the fiscal year 2079/80, and the audit reports of former Ajod Insurance Ltd. and United Insurance Co. (Nepal) Ltd. Additionally, the financial statements for the upcoming fiscal year 2080/81, encompassing details such as financial results, balance sheet, and cash flow, received unanimous approval.

    A significant decision made during the meeting was the endorsement of a 10.8013% dividend to shareholders. This dividend comprised a 0.5401% cash dividend and a 10.2612% bonus share, calculated from the paid-up capital of Rs. 1.90 Arba.

    Moreover, the gathering witnessed the election of a new board of directors for the company. The selections included individuals such as Mr. Ajad Shrestha, Mr. Pranav Kumar Das, and Mr. Balram Khanal representing the founder’s side, along with Mr. Panu Datta Poudel and Mr. Shambhu Adhikari, who were elected to represent the general public. This reshuffling of the board is expected to bring fresh perspectives and leadership to United Ajod Insurance Limited as it moves forward into the future.

  • Last Day for HRL and Asian Life Insurance Dividend Grab

    Last Day for HRL and Asian Life Insurance Dividend Grab


    Today marks the deadline to avail the 5.789% dividend offered by Himalayan Reinsurance Limited (HRL). The company has scheduled its 3rd Annual General Meeting (AGM) for 20th Falgun, 2080, to be held at Rastriya Sabha Griha, Pradarshani Marg, Kathmandu, starting at 11:00 AM.

    In the 55th board meeting held on Magh 25, it was decided to distribute dividends based on the paid-up capital of Rs. 10 Arba. The proposal includes 4% bonus shares and a 0.21% cash dividend (for tax purposes). This translates to bonus shares valued at Rs. 40 crores and a cash dividend of Rs. 2.10 crores.

     

  • Central Finance: No Dividends for FY 2079/80

    Central Finance: No Dividends for FY 2079/80


    Central Finance Limited (CFCL) has announced that it will not be giving out any dividends for the Fiscal Year 2079/80. This decision was reached during the 335th Board Meeting held on Falgun 04. However, it’s essential to understand that this decision is dependent on the approval of the financial statements by the regulatory authority, Nepal Rastra Bank, and the forthcoming Annual General Meeting of the company.

     

  • Shikhar Insurance: No Dividend for FY 2079/80

    Shikhar Insurance: No Dividend for FY 2079/80


     

    Shikhar Insurance Company Limited (SICL) has announced that it won’t be paying dividends for the Fiscal Year 2079/80. This decision came after the 322nd Board Meeting held on Falgun 04, 2080. However, the financial statements are pending approval from the Nepal Insurance Authority and will be discussed further in the upcoming Annual General Meeting.

     

  • Eastern Sahara Appoints Global IME Capital for 30 Lakh IPO Shares

    Eastern Sahara Appoints Global IME Capital for 30 Lakh IPO Shares


    Eastern Sahara Company Limited has chosen Global IME Capital Limited as the issue manager for its upcoming IPO of 30,00,000 units at NPR 100 each. The agreement was signed on Falgun 1, 2080, at Global IME Capital Limited’s office in Naxal, Kathmandu.

    The company, established as a public company in 2079, is based in Birtamode Municipality, Jhapa, with a liaison office in Baneshwor Height, Kathmandu. It specializes in micro-capital operations, with a focus on Green Financing and investments in hydropower, agriculture tourism, automobiles, and solar energy projects. Eastern Sahara has attracted investments from notable figures in banking, cooperatives, microfinance, and hydropower sectors, with the aim of contributing to the nation’s economic growth through Green Financing.

     

  • NEPSE Index Drops 1.31% to 2,034.82; HRL Leads in Turnover

    NEPSE Index Drops 1.31% to 2,034.82; HRL Leads in Turnover


    On the first trading day of the week, the Nepal Stock Exchange (NEPSE) saw a drop, with the index falling by 27.21 points or 1.31% compared to the previous day, closing at 2,034.82 points. This continues a trend from the previous Thursday when the index went down by 14.46 points.

    Starting today’s trading, the market opened at 2,060.68, reaching a high of 2,062.32 during the day and a low of 2,030.29. Ultimately, it ended at 2,034.82 levels.

     

  • NEPSE Introduces New Classification System for Listed Companies

    NEPSE Introduces New Classification System for Listed Companies


    NEPSE has introduced a new classification system for listed companies, dividing them into groups A, B, G, and Z. This system aims to offer investors and stakeholders a clearer understanding of companies based on their financial status, performance, and governance.

    In the A category, which includes 31 companies, NEPSE has identified firms with a minimum paid-up capital of Rs. 1 Arba. These companies have been listed for at least 3 years, consistently shown profitability over the past 3 fiscal years, distributed dividends, and held annual general meetings within 6 months of the fiscal year-end. Companies in the A category are distinguished by strong corporate governance.