Tag: news

  • “ICRA Nepal Reaffirms AMC Quality 3 Rating for Citizens Capital’s Management”

    “ICRA Nepal Reaffirms AMC Quality 3 Rating for Citizens Capital’s Management”


     

    ICRA Nepal Limited has confirmed the Fund Management Quality Rating (FMQR) of [ICRANP] AMC Quality 3 (pronounced ICRA NP Asset Management Company Quality Three) for Citizens Capital Limited. This rating signifies that entities with AMC3 offer reasonable confidence in their management quality. It’s important to note that ICRA Nepal’s assessment doesn’t comment on legal adherence, financial performance, or future outlook of schemes overseen by the Asset Management Company.

    ICRA Nepal employs a rating scale ranging from AMC1 to AMC5, where AMC1 reflects the strongest management quality assurance, while AMC5 indicates weaker assurance in management quality. In cases of quality Ratings 2, 3, and 4, a “+” (Plus) sign can be added to indicate a relatively better position within the respective rating categories.

  • “Sreenagar Agritech Teams Up with Nabil Investment for 13 Lakh Share IPO”

    “Sreenagar Agritech Teams Up with Nabil Investment for 13 Lakh Share IPO”


     

    Sreenagar Agritech Industries has chosen Nabil Investment Banking to manage the release of 1.3 million shares to the public. The agreement was made official through a signing between the CEO of the bank, Mr. Manish Narayan Joshi, and the MD of the company, Mr. Satish Chand Shrestha. The company, known for its agricultural and poultry operations, is considering growth in the meat industry and adding cold storage facilities. This move comes after having a successful history in the agro-based sector.

     

  • “NEPSE Lists 11% LBBLD89 and MLBLD89 Debentures of 2089”

    “NEPSE Lists 11% LBBLD89 and MLBLD89 Debentures of 2089”


    On Wednesday, which corresponds to the date 2080/05/13 in the Nepali calendar, Lumbini Bikas Bank Limited (LBBL) and the Nepal Stock Exchange (NEPSE) signed an agreement for the listing of 11 Percent L.B.B.L. Debenture 2089 (LBBLD89).

    As per the agreement, 10 lakh units of these debentures are being listed at a par value of Rs. 1000 per unit.

    Trading for these shares is set to commence from Sunday.

    The task of issue management is being handled by Nabil Investment Banking Limited. On the 11th of Bhadra, 2080, the stocks were successfully listed on NEPSE in accordance with the prevailing regulations.

     

  • “NIC Asia Capital Reveals NAV Reports of Mutual Fund Schemes”

    “NIC Asia Capital Reveals NAV Reports of Mutual Fund Schemes”


     

    NIC Asia Capital, the manager of the 10-year closed-end mutual fund scheme called NIC Asia Balanced Fund (NICBF), has released the Net Asset Value (NAV) report for the month of Shrawan. The NAV for this period is recorded at Rs. 11.18, showing a slight decrease from the previous month’s Rs. 11.28.

    The scheme was initiated with an initial fund size of Rs. 75.50 crores. Among its investments, Rs. 39.12 crores have been placed in shares of listed companies, while Rs. 21.77 crores have been allocated to debentures. Additionally, the scheme has invested Rs. 65.68 lakhs in non-listed shares, and the remaining bank balance is Rs. 22.45 crores.

    During the month of Shrawan, the fund has achieved a net profit of Rs. 85.06 lakhs. In the preceding month, it had a net profit of Rs. 9.21 crores.

     

  • “Millennium Challenge Corporation (MCC) Project Implementation Starts”

    “Millennium Challenge Corporation (MCC) Project Implementation Starts”


     

    The much-anticipated Millennium Challenge Corporation (MCC) initiative is about to start on Wednesday. This project, spanning five years, will begin its implementation on August 30, 2023, which aligns with the 13th of August in the Nepali calendar. Today, the Ministry of Finance is organizing an event to officially announce this significant milestone.

    As per Article 7 of the agreement between the Nepali government and the American Cooperation Mission MCC, the effectiveness of the agreement depends on the date when MCC sends a letter to Nepal’s government. This letter confirms MCC’s readiness to carry out the agreement, provided that they are satisfied with the completion of necessary prerequisites.

     

  • “NEPSE Drops 2.82 Points to 1990.59; Market Cap at Rs. 29.79 Kharba”

    “NEPSE Drops 2.82 Points to 1990.59; Market Cap at Rs. 29.79 Kharba”


     

    During today’s trading session, the Nepal Stock Exchange (NEPSE) Index concluded at 1,990.59 points, experiencing a slight decline of 0.14% or 2.82 points from yesterday’s closing. The day began with the index starting at 1,994.63 and hitting its highest point at 2,001.72 within the day. However, there was a dip to an intraday low of 1,985.10 before it eventually stabilized at the closing mark of 1,990.59.

     

  • “Last Chance to Secure Dividend from Siddhartha Capital’s Mutual Funds”

    “Last Chance to Secure Dividend from Siddhartha Capital’s Mutual Funds”


     

    Today marks the final trading day before the book closure date for Siddhartha Capital’s mutual funds’ dividend distribution. The book closure date is Bhadra 12, and investors holding units until today will be eligible for the cash dividend.

    During a Board of Directors meeting held on the 32nd day of Shrawan, Siddhartha Capital Limited decided to allocate a 5% cash dividend of Rs. 7.5 Crores for Siddhartha Equity Fund (SEF) and a 6.5% cash dividend (inclusive of tax) totaling Rs. 7.8 Crores for Siddhartha Investment Growth Scheme – 2 (SIGS2) for the fiscal year 2079/80, benefiting the unit holders.

  • “NEPSE Climbs 5.09 Points to Reach 1998.48; Kutheli Bukhari Hydro Sees Continued Positive Trends”

    “NEPSE Climbs 5.09 Points to Reach 1998.48; Kutheli Bukhari Hydro Sees Continued Positive Trends”


     

    In the trading session today, the Nepal Stock Exchange (NEPSE) Index concluded at 1,998.48 points, marking a rise of 0.25% or 5.09 points in comparison to the previous day’s close.

    The trading day began with the index starting at 1,994.03 points. It reached its highest point during the day at 2,009.70 but also dipped to an intraday low of 1,989.37 before ultimately settling at the closing value of 1,998.48.

     

  • “Sunrise Capital Releases Mutual Fund NAV Report for Shrawan Month”

    “Sunrise Capital Releases Mutual Fund NAV Report for Shrawan Month”


     

    Sunrise First Mutual Fund (SFMF), a closed-end fund with a 10-year maturity, has released its monthly Net Asset Value (NAV) report for the month of Shrawan. The NAV for this period is Rs. 12.90, slightly lower than the previous month’s Rs. 12.92.

    Starting with an initial capital of Rs. 86 crores, SFMF has made investments of Rs. 59.7 crore in listed shares and Rs. 18.07 crore in bonds and debentures until the end of Shrawan. Additionally, it has put Rs. 3.91 crore into public issues, rights issues, and bonus shares, and holds Rs. 8 crore in fixed deposits. The fund’s bank balance is Rs. 21.29 crores.

    In terms of profits, SFMF has reported a net profit of Rs. 4.91 crore for the month of Shrawan, a decrease from the Rs. 11.49 crore net profit in the preceding month.

     

  • “Barahi Sedi Chooses NMB Capital as Issue Manager for 11.60 Lakh Unit Share Offering”

    “Barahi Sedi Chooses NMB Capital as Issue Manager for 11.60 Lakh Unit Share Offering”


     

    Barahi Sedi, a hotel under construction in Pokhara’s Lakeside area, has selected NMB Capital as the issue manager for its upcoming public share offering of 1.16 million ordinary shares. The agreement was formalized through a Memorandum of Understanding (MoU) signed between Mr. Dipesh Kumar Vaidya, the CEO of NMB Capital, and Mr. Biplab Paudel, the Managing Director of the hotel. The hotel is slated to be a 5-star establishment with 150 rooms, 11 service houses, and various amenities, set to launch in 2025 according to the media statement.

  • “Federal: First Reinsurance Broker in Nepal to Achieve ISO 9001:2015 Certification”

    “Federal: First Reinsurance Broker in Nepal to Achieve ISO 9001:2015 Certification”


    During an official event at FRBL’s headquarters in Kathmandu on August 27, 2023, Mr. Prakash Poudel, the Country Director of United Registrar of Systems (URS), presented the certification to FRBL’s chairman, Mr. Mahesh Kumar Agrawal. The occasion was attended by FRBL’s Board members, leadership team, staff, and URS Nepal representatives. Mr. Poudel congratulated FRBL for achieving the ISO 9001:2015 certification, highlighting its role in ensuring effective operations, streamlined processes, and customer satisfaction.

    Mr. Subarna Paudel, the Managing Director of FRBL, expressed gratitude for the collaborative efforts of FRBL’s management and URS Nepal. He described the ISO 9001:2015 certification as a significant milestone, validating their dedication to excellence and their commitment to providing exceptional reinsurance broker services to clients.

     

  • “NEPSE Ends with Slight 0.25% Loss at 1,993.42; Turnover at Rs. 86.51 Crores”

    “NEPSE Ends with Slight 0.25% Loss at 1,993.42; Turnover at Rs. 86.51 Crores”


     

    In today’s trading session, the Nepal Stock Exchange (NEPSE) Index concluded at 1,993.42 points, experiencing a decline of 0.25% or 5.05 points compared to the previous day’s closing. The index had shown a gain of 5.09 points the day before.

    The trading day began with the index starting at 1,999.01 points. It reached its highest point during the day at 2,002.81 but also dipped to an intraday low of 1,988.51 before ultimately settling at the closing value of 1,993.42.

    Throughout today’s trading, a total of 280 different company shares were traded in 38,666 transactions. The trading volume was substantial, totaling 3,895,236 shares, which translated to a turnover of Rs. 86.51 Crores. The overall market capitalization amounted to Rs. 29.84 Kharba, and the float market capitalization was Rs. 10.50 Kharba.