Rastra Utthan Laghubitta Bittiya Sanstha Limited (RULB) has proposed a 15% dividend worth Rs. 3.9 Crores for the fiscal year 2078/79. This marks the company’s first dividend after being listed in NEPSE. The board of directors decided in its 86th meeting on Baisakh 13 to distribute 14.25% bonus shares and 0.75% cash dividend (including the amount for tax purposes) from the paid-up capital of Rs. 26 Crores. The bonus shares are valued at Rs. 3.7 crores, and the cash dividend is worth Rs. 19.50 lakhs. However, the dividend will only be distributed after receiving approval from Nepal Rastra Bank and endorsement by the upcoming AGM. RULB’s last-day close stands at Rs. 622.80 at the time of writing.
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Allotment of 12 Crore Units of Siddhartha Investment Growth Scheme 3 Concludes; Only 67.15% Units Subscribed
Siddhartha Capital Limited recently concluded the issuance of its closed-end mutual fund scheme, “Siddhartha Investment Growth Scheme 3”. The issue consisted of 12 crore unit shares with a par value of Rs. 10 per unit. The fund promoter, Siddhartha Bank Limited, was allocated 10% (1.2 crore units) of the shares, while the fund manager, Siddhartha Capital, was allocated 5% (60 lakh units). The remaining 10.20 crore units were issued to the general public. The scheme, which has a maturity period of 10 years, is the sixth mutual fund scheme offered by Siddhartha Capital. On Baisakh 17, 80,580,000 units were allotted to valid applicants, resulting in a total scheme size of Rs. 80.58 Crores.
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“Nepalese Stock Market Witnesses a Slight Decline with ANLB Leading Gains and SGHC Facing Losses”
Today, the Nepalese stock market index, NEPSE, experienced a decline of 0.23% and closed at 1,866.40, which is 4.27 points lower than the previous day’s close. During the trading day, the index reached a high of 1,878.96 and a low of 1,860.43 after opening at 1,871.63. The total turnover for the day was Rs. 69.22 Crores, lower than the previous day’s turnover of Rs. 95.43 Crores, with 271 stocks traded through 21,649 transactions.
Himalayan Distillery Limited (HDL) had the highest turnover of Rs. 2.44 crores with a market price of Rs. 1,900 per share, while the most traded shares belonged to NICBF. Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) gained 8.20% during the day, while Swet-Ganga Hydropower & Construction Limited (SGHC) lost the highest percentage of 4.70%. Among the six sector indices, “Trading” experienced the highest decline of 1.53%, whereas “Mutual Fund” gained 0.54%.
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“National Hydro Power reports Q3 net loss of Rs. 2.29 Crores due to increased interest expenses; announces plans to issue 50% right shares”
In the third quarter (Q3) of the current fiscal year 2079/80, National Hydro Power Company Limited (NHPC) reported a net loss of Rs. 2.29 Crores, compared to a profit of Rs. 3.27 Crores in the corresponding quarter of the previous year. The company’s total revenue till the end of Q3 was Rs. 2.91 crores. However, NHPC’s administrative expenses declined by 6.97%, while financial expenses increased significantly by 125.40%, affecting the company’s profitability for this quarter.
NHPC’s reserves and surplus currently stand at Rs. 83.03 Lakhs, with share capital at Rs. 1.64 Arba. The hydropower company plans to issue 50% right shares worth Rs. 82.21 Crores to its existing shareholders, which will increase the paid-up capital to Rs. 2.46 Arba after approval by SEBON.
NHPC is also involved in the Lower Erkhuwa Hydropower Project in Bhojpur District, Province 1, which is expected to start generating 80 GWh of energy annually within 2023 and generate about N. Rs. 450 million in revenue. Additionally, the company is leading the study of the Likhu hydropower project, which is being promoted after concluding an agreement regarding holding of 75% shares in Bright Energy Solutions.
NHPC’s annualized earning per share is currently at Rs. -1.86, while the net worth per share is at Rs. 100.50. The company’s Q3 report shows a decrease in reserves and surplus by 75.90%, property, plant, and equipment (NET) increasing by 0.51%, and a decline in total income (power sales) by 19.41%. The Q3 market price for NHPC was at 239.
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NMB Laghubitta convenes endorses 10% bonus shares for its shareholders
NMB Laghubitta has held its 10th Annual General Meeting (AGM) on April 28, 2023, chaired by Sanjib Subba. During the meeting, the shareholders approved a 10% bonus share dividend worth Rs. 6.55 crore for the previous fiscal year. Additionally, the AGM granted the board the authority to pursue any merger or acquisition opportunities with other suitable institutions in the future. A media statement confirmed the decisions made during the AGM.
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“Ankhukhola Hydropower Plans to Issue 200% Right Shares Pending Approval from Electricity Regulatory Commission”
Ankhukhola Hydropower Company Limited (AKJCL) has proposed to issue 200% rights shares to its shareholders. The company aims to invest 60% of the newly raised capital in the Ganesh Himal Hydropower’s 20 M.W- Ankhu Khola-2 Hydropower project. This decision was made during a board of directors meeting held on Baishakh 15, 2079.
After the issuance of right shares at a ratio of 1:2, AKJCL’s paid-up capital will increase from Rs. 80 crores to Rs. 1.60 Arba. On Chaitra 23, 2079, a meeting was held where it was decided to invest 60% in the Ankhu Khola-2 Hydropower project. The investment agreement between the two companies was signed on Chaitra 24, 2079.
The Ankhu Khola-2 Hydropower project is designed to generate 122.16 GWh of electricity annually, based on a river flow rate of 27.73 cubic meters per second and a total head of 91 meters. The electricity produced will be transmitted to the national grid through a 5 km transmission line via the Nepal Electricity Authority’s proposed Lapang Substation.
AKJCL plans to invest the Rs. 96 crores received from legitimate shares in the Ganesh Himal Hydropower project. The remaining funds will be used to pay off loans and other obligations owed to banks and other financial organizations. However, the issuance of right shares will only occur after approval from the Electricity Regulatory Commission and endorsement by the company’s upcoming AGM.
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Aatmanirbhar Laghubitta reports a decline in Q3 net profit by 27.64%
Aatmanirbhar Laghubitta Bittiya Sanstha Limited (AATMA) has reported a 27.64% decrease in net profit for Q3 of FY 2079/2080 compared to the same quarter of the previous fiscal year, according to its unaudited financial report. The company’s net profit declined to Rs. 4.46 crores from Rs. 6.1 crores in the corresponding quarter of the previous year. The decline in net profit is due to a decrease in net interest income by 17.19% and an increase in impairment charges by 437.70%, which caused the operating profit to decrease by 43.09%. AATMA’s borrowing stands at Rs. 8.53 Arba, while its loans declined by 11.38% to Rs. 1.27 Arba. The company recently issued an IPO of 1,69,755 units worth Rs. 1.69 crore to the public.
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NEPSE Index Experiences 1.01% Loss, SHIVM Has Highest Turnover
The NEPSE index experienced a loss of 1.01% and closed at 1,870.65 today, dropping by 19.11 points from the previous trading day’s closing. The index had also lost 2.27 points yesterday. The trading day started with an opening index of 1,889.41 and achieved an intraday high of 1,890.34. However, it reached an intraday low of 1,867.73 before ultimately settling at 1,870.65. During the trading day, 271 scrips were exchanged through 26,801 transactions, with a total of 3,206,450 shares worth Rs. 95.43 Crores in turnover, which was higher than the previous trading day’s turnover of Rs. 73.96 Crores. SHIVAM CEMENTS LTD (SHIVM) had the highest turnover of Rs. 4.25 crores, closing at a market price of Rs. 405 per share, while the shares of NIMB had the most trading volume. NMB Sulav Investment Fund – 2 (NSIF2) showed the highest increase of 3.33% for the day, while NIBL Growth Fund (NIBLGF) experienced the highest decrease of 8.89%. All sector indices closed in the red, with “Hydropower” experiencing the highest loss of 1.87%, while “Investment” had the lowest loss of 0.53% for the day.
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6.5% Bonus Shares of Guheshowori Merchant Banking Listed in NEPSE
Guheshowori Merchant Banking and Finance Limited (GMFIL) has recently listed 6,17,760 unit bonus shares on the Nepal Stock Exchange (NEPSE). The company had held its 21st Annual General Meeting on 27th Magh, where a dividend of 6.84% was approved for the fiscal year 2078/79. The board of directors had decided to distribute the dividend on the paid-up capital of Rs. 95.04 Crores, which included 6.50% bonus shares worth Rs 6.17 Crores and a 0.34% cash dividend worth Rs 32.51 Lakh (including tax on bonus shares). These same bonus shares are now available for trading on the NEPSE, and as of now, the company’s Last Traded Price (LTP) stands at Rs. 303.10.
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SSHL Plans to Issue 100% Right Shares to Shareholders
Shiva Shree Hydropower Limited (SSHL) has made an important decision to issue 100% right shares to its shareholders in a 1:1 ratio, according to a recent board of directors’ meeting held on 14th Baisakh, 2080. This move will increase the company’s current paid-up capital from Rs. 1.47 Arba to Rs. 2.95 Arba.
The primary objective of issuing the right shares is to pay back the bank debt. SSHL is preparing to issue rights after receiving approval from the Electricity Regulatory Commission and the subsequent Annual General Meeting. This is a significant development for SSHL, as it will not only help the company pay off its debts, but it will also increase its capital, giving it more financial flexibility to pursue future endeavors.
The decision to issue right shares is a common practice among companies, and it allows them to raise capital by offering existing shareholders the right to purchase additional shares at a discounted price. This not only benefits the company but also the shareholders, as it enables them to increase their stake in the company at a lower cost.
Overall, SSHL’s decision to issue 100% right shares is a positive move that will benefit both the company and its shareholders. The increased capital will give the company more financial flexibility to pursue its goals and pay off its debts, which is always a positive sign for any company.
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Global IME Balanced Fund 1 and Mega Mutual Fund 1 Release Last Month’s NAV Report
The “Global IME Balanced Fund – 1 (GIBF1)” NAV report for Chaitra has been released.
The “Global IME Balanced Fund – 1” is a closed-end fund with a 10-year maturity horizon. The fund size of Global IME Balanced Fund – 1 is Rs. 1.02 Arba.
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Citizens Mutual Fund 1 Reports NAV and Net Profit Increase in Chaitra
Citizens Mutual Fund-1 (CMF1), a 7-year closed-end mutual fund scheme, has released its monthly report for Chaitra 2079.
According to the report, a mutual fund’s Net Assets Value (NAV) fell slightly from Rs. 9.18 to Rs. 9.19. The program, which began with a sum of Rs. 82 crores, has invested Rs. 48.38 crores in listed company shares and Rs. 4.91 crores in non-listed company shares. This program invested Rs. 3 crores in fixed-income assets, Rs. 15.86 crores in debentures, and Rs. 3.4 crores in bank balance.