Tag: exchange

  • NEPSE Temporarily Suspends Trading as Benchmark Index Surges 4.04%

    NEPSE Temporarily Suspends Trading as Benchmark Index Surges 4.04%


    The Nepal Stock Exchange Limited (NEPSE) encountered a rapid surge, witnessing a significant 4.04% increase within the initial three minutes of the market opening today, reaching a level of 2,039.60 points. This substantial rise prompted NEPSE to implement a temporary suspension of its operations. The total turnover during this brief period amounted to 14.8 Crore. The market is scheduled to resume at 11:23 AM.

    NEPSE employs an Index-based Circuit Breaker system to manage extreme market movements, with triggers set at 4%, 5%, and 6% in either direction. These circuit breakers are designed to instigate trading halts across all equities, serving to maintain stability and prevent excessive volatility.

    Specifically, a 4% movement in either direction results in a 20-minute trading halt if it occurs during the first hour of trading (before 12:00 hours). However, if this movement takes place after 12:00 hours, there will be no trading halt, and normal market operations will continue.

    A 5% movement triggers a 40-minute trading halt if it occurs before 13:00 hours. In case the movement happens after 13:00 hours, there will be no trading halt at this level, and the market will resume its trading activities.

    A 6% movement, in either direction, leads to a complete trading halt for the remainder of the day. These measures are in place to ensure a systematic approach to handling market fluctuations and safeguarding against extreme volatility.

  • Mountain Energy Nepal Announces 10th AGM, Proposes 15.7895% Dividend for FY 2079/80

    Mountain Energy Nepal Announces 10th AGM, Proposes 15.7895% Dividend for FY 2079/80


    Mountain Energy Nepal Limited (MEN) has scheduled its 10th Annual General Meeting (AGM) for the 13th of Chaitra, 2080. The meeting is set to take place at Amrapali Banquet Catering & Events in Bhatbhateni, Kathmandu, starting at 10:30 AM on the specified date. Among the key agendas to be discussed during the AGM is the endorsement of a 15.7895% dividend for the fiscal year 2079/80. The proposal for this dividend was put forth during the 106th board of directors meeting held on Poush 22. The proposed dividend includes 15% bonus shares and 0.7895% cash dividends (for tax purposes).

    In addition to the dividend-related discussions, the AGM will cover other essential topics such as the endorsement of the auditor’s report, which includes Profit and Loss (PL) statements, financial reports, and cash flow reports. Moreover, there will be an agenda to appoint an auditor for the fiscal year 2080/81.

    For shareholders aiming to benefit from the dividend payout, the book closure date is set for Falgun 30. Those who hold shares before this date are eligible for the dividend and can also participate in the AGM.

  • Sabottam Cement IPO Allotment: Awaiting Lucky Winners through Friday’s Lottery System

    Sabottam Cement IPO Allotment: Awaiting Lucky Winners through Friday’s Lottery System


    The IPO allotment process for Sabottam Cement, a prominent cement company, is set to conclude on Friday. Lucky applicants who successfully secure shares will receive an allotment of 50 units each through a lottery system. This eagerly anticipated event marks a significant step in the company’s public offering, providing an opportunity for investors to become part of Sabottam Cement’s ownership. The lottery system ensures a fair and unbiased distribution of shares among eligible applicants, contributing to transparency in the IPO allotment process. Stakeholders and potential investors eagerly await the outcome, hoping to be among the fortunate individuals who secure shares in Sabottam Cement through this highly anticipated public offering.

  • National Laghubitta Calls 10th AGM to Discuss 15% Dividend for FY 2079/80

    National Laghubitta Calls 10th AGM to Discuss 15% Dividend for FY 2079/80


    National Laghubitta Bittiya Sanstha Limited (NMFBS) has convened its 10th Annual General Meeting (AGM) scheduled for March 16, 2080. The AGM will take place at Dhulikhel Lodge Resort, Dhulikhel, Kavrepalanchowk, commencing at 10:30 AM. Among the proposed agendas, the AGM will consider endorsing a 15% dividend for the fiscal year 2079/80. The decision was made during the 163rd board of directors meeting on Magh 22. The proposed dividend includes 7.5% bonus shares and 7.5% cash dividend (for tax purposes), totaling Rs. 32.52 crores based on the paid-up capital of Rs. 1.08 Arba.

    Additionally, the AGM will address other items such as approving the auditor’s report, including profit and loss statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 will also be discussed.

    The book closure date is set for Falgun 30, and shareholders maintained before this date will be eligible for the dividend payout and are welcome to attend the AGM.

  • Citizens Bank Introduces 9.99% Fixed-Rate Home Loan Scheme for 7 Years

    Citizens Bank Introduces 9.99% Fixed-Rate Home Loan Scheme for 7 Years


    Citizens Bank International Limited (CZBIL) is launching a home loan scheme featuring a fixed interest rate of 9.99% for the initial seven years, providing customers with an opportunity to realize their dream homes. Following this initial period, a premium rate, 1% higher than the bank’s average monthly base rate, will be applicable.

    The home loan package encompasses a 0.50% management fee and offers additional benefits, including a complimentary credit card, debit card, and a 50% discount on locker facility fees for the first year. This initiative is aimed at facilitating and encouraging individuals in acquiring housing loans with favorable terms.

    CZBIL, with a widespread presence of 190 branches and 152 ATMs across the nation, serves a significant customer base of 17 lakh 26 thousand through 97 branchless banking units, providing modern banking services to meet diverse financial needs.

  • Lower Erkhuwa Hydropower’s IPO Proposal Under SEBON Review for Rs. 28.05 Crores

    Lower Erkhuwa Hydropower’s IPO Proposal Under SEBON Review for Rs. 28.05 Crores


    The Initial Public Offering (IPO) proposal of Lower Erkhuwa Hydropower Company Ltd. is currently under review by SEBON (Securities Board of Nepal). The company has submitted a proposal to issue a total of 2,805,750 shares, aiming to raise Rs. 28.05 crores. The application for the IPO was submitted on Falgun 11, 2080.

    Muktinath Capital Limited has been appointed as the issue manager for the public offering, overseeing the regulatory and procedural aspects of the IPO process. In terms of credit assessment, ICRA Nepal has assigned an issuer rating of [ICRANP-IR] BB- (pronounced ICRA NP Issuer Rating double B minus) to Lower Erkhuwa Hydropower Company Limited. This rating indicates a moderate risk of default concerning the timely servicing of financial obligations.

    Lower Erkhuwa Hydropower Company Limited, established on February 10, 2008, is actively engaged in the development of the Lower Erkhuwa Khola Hydropower Project. This venture, with a capacity of 13.04 MW, is located in Bhojpur district, Province No. 1 of Nepal. The project follows a run-of-the-river (R-o-R) type design and is currently in development at a 40% probability of exceedance (Q40). The Power Purchase Agreement (PPA) for this initiative features a unique approach, incorporating a six-month dry energy period and a six-month wet energy period, with a dry energy mix comprising approximately 30%.

    The inclusion of Lower Erkhuwa Hydropower Company Ltd.’s IPO in SEBON’s pipeline signifies the company’s move toward accessing the capital market for funding its ongoing projects and future endeavors.

  • Auction Alerts: CORBL, ILBS, and UAIL Promoter Shares Up for Bidding

    Auction Alerts: CORBL, ILBS, and UAIL Promoter Shares Up for Bidding


    Corporate Development Bank Limited (CORBL) is set to auction 3,08,500 shares to existing promoter shareholders, beginning today. The interested parties are invited to submit their bids within 35 days from the publication date of this notice, i.e., by the 20th of Falgun, 2080. Bids should be submitted at the company’s central office located in Birgunj, Parsa. CORBL closed at Rs. 410.00 on the last trading day.

    In another auction notice, the existing promoters of Infinity Laghubitta Bittiya Sanstha Limited (ILBS) are offering 15,000 units of shares for auction, open to both existing promoter shareholders and the general public/institutions, starting from today. Interested individuals and promoter shareholders can bid for these shares within 15 days at the company’s central office in Gaidakot, Nawalparasi.

    Furthermore, ILBS promoters are also auctioning 60,050 units of shares exclusively for existing promoter shareholders, starting from today. If no bids are received within the stipulated 35-day timeframe, the shares will be open for auction to the general public. ILBS has a last traded price (LTP) of Rs. 675.00, while ILBSP has an LTP of Rs. 361.00.

    Similarly, the existing promoter of United Ajod Insurance Limited (UAIL), Sushila Goyal, is auctioning 52,593 units of shares to interested existing promoter shareholders, starting from today. Eligible shareholders are requested to submit their bids within 35 days from the publication date of this notice, i.e., by the 20th of Falgun, 2080, at the corporate office located at CTC Mall, Sundhara, Kathmandu. If no bids are received within the specified timeframe, the shares will be later auctioned to the general public. UAIL closed at Rs. 515.20.

    These auctions present opportunities for existing promoters to acquire shares within their respective institutions and contribute to the dynamic nature of the stock market

  • Gold Prices Surge by Rs. 600 per Tola, Trading at Rs. 1,19,000

    Gold Prices Surge by Rs. 600 per Tola, Trading at Rs. 1,19,000


    The price of gold has seen a significant rise, increasing by Rs. 560 per tola compared to the previous day’s trading. As reported by the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), fine gold is currently being traded at Rs. 1,19,000 per tola, marking a Rs. 600 increment from yesterday’s trading price of Rs. 1,18,400 per tola.

    Similarly, Tejabi gold is available today at Rs. 1,18,450 per tola, reflecting a notable increase of Rs. 600 from its previous price of Rs. 1,17,850 per tola. Additionally, the silver market has observed a slight uptick, with the current rate standing at Rs. 1,390 per tola, as opposed to the closing rate of Rs. 1,405 per tola recorded the day before.

    This surge in gold prices indicates dynamic market conditions, influenced by various factors impacting precious metal values.

  • Kumari Bank Limited and Suryodaya Womi Laghubitta Bittiya Sanstha Limited Initiate Promoter Share Auctions

    Kumari Bank Limited and Suryodaya Womi Laghubitta Bittiya Sanstha Limited Initiate Promoter Share Auctions


    The current promoter of Kumari Bank Limited (KBL) has initiated the auction of 6,41,284 units of shares exclusively to interested promoter shareholders, starting from today. Only eligible shareholders are invited to participate in the auction, with bids accepted within 35 days from the date of this notice, concluding on the 18th of Falgun. Bidders are instructed to submit their bids either at the bank’s central office in Tangal, Kathmandu, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. In the event of no bids from existing founder shareholders within the specified timeframe, the shares will subsequently be open for auction to the general public. KBL closed at Rs. 140.60 on the last trading day, while KBLPO recorded a Last Traded Price (LTP) of Rs. 106.00 as of February 21, 2024.

    Similarly, an auction notice has been issued by the existing promoter of Suryodaya Womi Laghubitta Bittiya Sanstha Limited (SWMF) for the sale of 6,206 units of shares to interested promoter shareholders. Indra Bahadur Godar, the existing promoter, invites bids within 35 days from the publication date of this notice, until the 18th of Falgun, 2080. Shareholders willing to participate should submit their bids either at the institution’s corporate office in Mahalaxmi-04, Lalitpur, or at Kumari Capital Limited in Naxal, Nagpokhari, Kathmandu. If no bids are received from existing founder shareholders within the stipulated timeframe, the shares will then be auctioned to the general public. SWMF closed at Rs. 658.20 in the previous trading session, and SWMFPO reported an LTP of Rs. 196.00 as of February 8, 2024

  • Seed Energy Partners with NMB Capital for Initial Public Offering Management

    Seed Energy Partners with NMB Capital for Initial Public Offering Management


    Seed Energy Ltd has finalized an agreement with NMB Capital Limited for the management of its Initial Public Offering (IPO). This development signifies a noteworthy achievement for Seed Energy Ltd as it prepares to introduce its shares to the public. The collaboration with NMB Capital Limited, a renowned entity in issue management, is anticipated to be pivotal in ensuring the IPO’s success. This strategic partnership marks a significant advancement for Seed Energy Ltd and fosters optimism regarding the potential prosperity of the forthcoming IPO.

  • Citizen Life Insurance Lists 18,75,000 Bonus Shares on NEPSE After 7th AGM Approval

    Citizen Life Insurance Lists 18,75,000 Bonus Shares on NEPSE After 7th AGM Approval


    Citizen Life Insurance Company Limited (CLI) has successfully listed 18,75,000 units of bonus shares on the Nepal Stock Exchange (NEPSE). This follows the company’s 7th Annual General Meeting (AGM) held on the 14th of Magh, 2080, where a dividend of 5.2632% for the fiscal year 2079/80 was endorsed. The proposed distribution included 5% bonus shares and a 0.2632% cash dividend (for tax purposes), all derived from the company’s paid-up capital of Rs. 3.75 Arba.

    The bonus shares, as approved during the AGM, are now officially listed on NEPSE. CLI’s closing market price as of the previous day stood at Rs. 434.00. The listing of bonus shares reflects CLI’s commitment to providing returns to its shareholders, reinforcing its financial standing and attractiveness in the market.

  • Shikhar Insurance Calls 19th AGM: Agendas, Dividend Decision, and Book Closure Details

    Shikhar Insurance Calls 19th AGM: Agendas, Dividend Decision, and Book Closure Details


    Shikhar Insurance Company Limited (SICL) has announced its 19th Annual General Meeting (AGM) scheduled for the 9th of Chaitra, 2080. The AGM is set to take place at the Shikhar Insurance Company Ltd’s Head Office, Shikhar Biz Center in Thapathali, Kathmandu, starting at 11:00 AM.

    The outlined agendas for the AGM include the endorsement of financial reports for the fiscal year 2079/80, approval of the auditor’s report encompassing Profit and Loss statements, financial reports, and cash flow reports, as well as the confirmation of the auditor’s appointment for the fiscal year 2080/81. Additionally, the AGM will involve the election of four directors, with three representing the promoter shareholding group and one from the public shareholding group. The authorization of expenditures related to corporate social responsibility initiatives will also be addressed, along with miscellaneous matters.

    In a decision made during the 322nd Board Meeting on Falgun 04, 2080, SICL communicated that there would be no dividend distribution for the fiscal year 2079/80. The book closure date is set for Falgun 27, allowing shareholders maintained before that date to participate in the AGM.