Janautthan Samudayic Laghubitta Bittiya Sanstha Limited (JSLBB) has declared that it won’t be distributing dividends for the Fiscal Year 2079/80. The decision was made during the 216th Board Meeting held on Falgun 12, 2080. However, it’s crucial to mention that this decision is subject to approval from Nepal Rastra Bank, the regulatory authority, and the upcoming Annual General Meeting of the company.
Garima Capital Limited has launched a new program called “Every Nepali Shareholder,” enabling all Nepali citizens to open a Demat and Meroshare account without any charges. You can do this by visiting their main office in Kamalpokhri, Kathmandu, or at branch locations of Garima Bikas Bank Limited and Reliance Finance Limited across Nepal. Alternatively, you can also complete the process online through Garima Capital Limited’s website.
The current promoters of Prabhu Bank Limited (PRVU) have initiated the auctioning of 7,53,892 unit shares exclusively to its existing promoter shareholders, starting today. Eligible shareholders are invited to participate in the bidding process within 35 days from the publication date of this notice, which is the 11th of Falgun. Bids should be submitted at the central office of the bank situated in Babarmahal, Kathmandu. The closing price of PRVU on the previous day was Rs. 149.40.
Auction Notice for Kumari Bank Limited (KBL):
The existing promoter of Kumari Bank Limited (KBL), Ram Kumari Paudel, is putting up 4,115 units of shares for auction to fellow promoter shareholders, effective immediately. Eligible shareholders are urged to submit their bids within 35 days from the publication date of this notice, which is the 11th of Falgun. Bids can be submitted at the central office of the bank in Tangal, Kathmandu, or at Kumari Capital Limited located in Naxal, Nagpokhari, Kathmandu. In the event that no bids are received from existing founder shareholders within the specified timeframe, the shares will be opened for auction to the general public. The closing price of KBL on the previous day was Rs. 145, while KBLPO has a Last Traded Price (LTP) of Rs. 106.00 as of 21st February 2024.
Nepal Investment Mega Bank Limited (NIMB) has recently completed the allotment process for the public offering of the “10% NIMB Debenture 2090” on the 10th of Falgun, 2080. The issuance, which commenced on the 1st of Falgun, concluded on the 4th of Falgun, 2080.
A total of 40.40 lakh units were made available during the issuance, each having a par value of Rs. 1000. Out of the entire unit allocation, 60%, equivalent to 24.24 lakh units, was designated for subscription through private placement. Meanwhile, the remaining 16.16 lakh units, valued at Rs. 1.61 Arba, were open for public subscription. Additionally, 5%, amounting to 80.80 thousand units, were specifically set aside for mutual funds. The overall funds to be generated from this issuance are expected to total Rs. 4.40 Arba.
The “10% NIMB Debenture 2090” is aptly named, signifying its nature as a debenture with a maturity period spanning 10 years and a fixed coupon rate of 10%. Prabhu Capital Limited played the role of the issue manager throughout this process.
SuryaJyoti Life Insurance Company Limited (SJLIC) recently announced its decision to refrain from distributing dividends for the Fiscal Year 2079/80. This resolution emerged from discussions during the Board of Directors’ meeting held on Falgun 10, 2080, where comprehensive financial details of the fiscal year were deliberated.
A notable development mentioned in the announcement is the successful merger of Surya Life Insurance Company Limited and Jyoti Life Insurance Company Limited. The merger, accomplished at a ratio of 1:0.8245, resulted in the formation of a unified entity known as “SuryaJyoti Life Insurance Company Limited.” The commencement of joint business operations took place on Poush 7, 2079.
Formerly, Jyoti Life Insurance Company reported profits from Shrawan 1, 2079, to Poush 6, 2079. These profits have been allocated to the reserve fund of SJLIC. Additionally, a strategic decision has been made to consolidate all assets and liabilities, encompassing capital, reserves, investment amounts, and life insurance funds, into Suryajyoti Life Insurance Company Limited.
As of the latest update, SJLIC is reported to have a Last Traded Price (LTP) of Rs. 491.20.
Today marks the deadline to claim the 11% cash dividend offered by Siddhartha Premier Insurance Limited (SPIL). The company has scheduled its 30th Annual General Meeting (AGM) for the 30th of Falgun, 2080. This gathering will take place at Lisara Receptions, Bhagwati Bahal, Kathmandu, commencing at 11:00 a.m.
During the 19th Board of Directors meeting held on Magh 21, it was decided to distribute an 11% cash dividend, inclusive of taxes. The total value of this dividend amounts to Rs. 30.87 crores. SPIL currently maintains a paid-up capital of Rs. 2.80 Arba.
The Department of Customs has reported a significant increase in cement and clinker exports from Nepal to India, totaling Rs. 2.6 Arba during the first seven months of the current fiscal year (from Shrawan to Magh). This represents a notable 168% rise compared to the previous fiscal year’s exports of Rs. 77.93 crores. Leading this surge are key players in Nepal’s cement industry, including Palpa Cement, Arghakhanchi Cement, and Balaji Cement, actively contributing to the upward trend. Particularly impressive is the month of Magh, where exports reached Rs. 29 crores, showcasing the strong demand for Nepalese cement and clinker in the Indian market. Over the seven months, a significant amount of 21 lakh 47 thousand 345 tons of cement and clinker have been exported to India.
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.
The price of fine gold in Nepal dropped by Rs. 400 per tola, according to the latest update from FENEGOSIDA. Fine gold is now trading at Rs. 1,18,000 per tola, down from yesterday’s closing rate of Rs. 1,18,400 per tola. Similarly, Tejabi gold also saw a decrease of Rs. 400 per tola, with the current price standing at Rs. 1,17,450 per tola compared to yesterday’s closing price of Rs. 1,17,850 per tola.
The Nepal Stock Exchange (NEPSE) Index registered a decline of 6.46 points or 0.31% compared to the previous day’s closing, settling at 2,026.59 points, following a loss of 1.76 points in the preceding trading session.
As today’s trading commenced, the market opened with the index at 2,034.39 points, achieving an intraday high of 2,044.44 and reaching a low of 2,020.88.
Throughout the trading session today, a total of 313 different stocks were traded in 58,362 transactions. The total volume of shares traded amounted to 6,341,174, leading to a turnover of Rs. 2.24 Arba. The market capitalization was reported at Rs. 31.85 Kharba, with a float market capitalization of Rs. 10.91 Kharba.
Himalayan Reinsurance Limited (HRL) dominated in turnover, accumulating Rs. 11.12 crores and concluding the day with a market price of Rs. 633.20.
While four companies experienced positive circuits during the trading day, Peoples Hydropower Company Limited (PHCL) marked the most significant decline, incurring a loss of 7.84%.
In terms of sector indices, only one sector closed in the green today, with the “Manufacturing And Processing Index” witnessing the highest gain of 2.84%. Conversely, the “HydroPower Index” experienced a loss of 0.88%.
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.