Tag: Public

  • Challenges and Prospects of the Newly Constructed Business Tower in Damak: A Critical Analysis

    Challenges and Prospects of the Newly Constructed Business Tower in Damak: A Critical Analysis


    The recent unveiling of a multi-billion-rupee business tower in Damak by the government has ignited debates over its practicality, given reports of tepid interest from prospective commercial tenants. The towering edifice, standing 18 stories tall and spearheaded by CPN-UML chairman and former Prime Minister KP Sharma Oli, awaits its official inauguration amidst uncertainties surrounding its future occupancy.

    Confirming the tower’s completion, Maniram Gelal, Secretary of the Ministry of Urban Development, affirmed its purpose to host commercial activities, with the topmost floors earmarked for sightseeing ventures. However, despite its meticulously designed infrastructure geared towards commercial viability, the premises have yet to witness any formal commitment from potential lessees.

    Sudeep Poudel, the project manager overseeing Urban Development and Building Construction, acknowledged the absence of concrete initiatives for floor reservations, despite some informal expressions of interest. Presently, the tower predominantly serves as a backdrop for outdoor photography enthusiasts, with scant foot traffic observed indoors.

    Nestled approximately 6 kilometers west of Damak Bazaar, concerns loom over the operational overheads associated with running businesses within the tower precincts. An official from the Urban Development and Construction Department shed light on the logistical challenges of conducting enterprises at a remove from the established market nucleus, hinting at diminished profitability prospects for prospective occupants.

  • ADBL Introduces Digital Loan Facility on ADBL Smart Plus App to Enhance Financial Inclusion

    ADBL Introduces Digital Loan Facility on ADBL Smart Plus App to Enhance Financial Inclusion


    The Agricultural Development Bank Limited (ADBL) has launched a novel loan facility via the ADBL Smart Plus App, responding to the increasing demand for digital services and aiming to bolster financial access and inclusivity. This initiative enables eligible customers holding salary accounts with the bank to access instant loans of up to Rs. 2 lakhs directly through their mobile banking application, devoid of the necessity for collateral, paperwork, or physical visits to the bank.

    The repayment tenure for these loans can be selected as 3, 6, 9, or 12 months, structured on an Equated Monthly Installment (EMI) basis, with provisions for pre-payment. Additionally, eligible customers can avail themselves of the Buy Now, Pay Later (BNPL) feature for credit payments at Fonepay merchants via QR codes, facilitating purchases with the flexibility to pay in monthly installments.

    Moreover, customers have the option to utilize the “Convert to EMI” functionality to transform significant transactions into loans payable through installments. The registration process for this service is straightforward through the mobile banking app, and loan eligibility is determined based on a variety of criteria. Agricultural Development Bank aims to enhance customer convenience by introducing digital loans through the Foneloan service, marking itself as the first government bank to do so.

    Sagar Sharma, the CEO of Foneloan, underscores the objective of maximizing customer convenience, while Govinda Gurung, the CEO of Agricultural Development Bank, emphasizes the bank’s dedication to providing convenient facilities and expanding its array of digital banking services. Agricultural Development Bank operates via numerous branches and ATMs nationwide, catering to various sectors, including agriculture and personal loans, and offers comprehensive digital banking services.

  • Mandakini Hydropower Limited Lists Bonus Shares on NEPSE Following AGM Dividend Decision

    Mandakini Hydropower Limited Lists Bonus Shares on NEPSE Following AGM Dividend Decision


    Mandakini Hydropower Limited (MHL) has recently listed 2,79,317.53 unit bonus shares on the Nepal Stock Exchange (NEPSE). This follows the company’s 10th Annual General Meeting (AGM), which took place on Poush 29, 2080, where a 5% dividend for the fiscal year 2079/80 was endorsed. During a board of directors meeting held on the 29th of Mangsir, it was decided to distribute the dividend, consisting of 4.75% bonus shares and 0.25% cash dividend, inclusive of tax.

    These bonus shares have now been officially listed on NEPSE. As of the latest update, Mandakini Hydropower Limited (MHL) has a Last Traded Price (LTP) of Rs. 417.90.

  • NEPSE Index Records Gain of 1.13% Amid Vibrant Trading Activity

    NEPSE Index Records Gain of 1.13% Amid Vibrant Trading Activity


    The Nepal Stock Exchange (NEPSE) Index experienced a positive movement today, registering a gain of 1.13% or 22.75 points, reaching a closing value of 2,026.81 points. This follows a slight downturn of 2.73 points in the preceding trading session. The day began with an opening value of 2,009.05, and throughout the trading period, the index fluctuated, hitting an intraday high of 2,026.82 and a low of 2,000.36.

    Trading activity was vibrant, witnessing transactions involving 311 different stocks across 64,221 transactions. The total volume of shares exchanged amounted to 11,210,102, translating to a turnover of Rs. 4.25 Arba. The market capitalization concluded at Rs. 32.13 Kharba, with a float market capitalization of Rs. 10.84 Kharba.

    Nepal Reinsurance Company Limited Promoter Share (NRICP) took the spotlight of the day, generating a turnover of Rs. 95.20 Crore and closing at a market price of Rs. 281.00. Additionally, five companies experienced positive circuit trends.

    On the downside, Taragaon Regency Hotel Limited (TRH) encountered a setback, experiencing a decline of 10% to close at Rs. 792.00.

    In terms of sector performance, two sector indices concluded in negative territory. The “Finance Index” led the gains with a notable increase of 5.95%. However, the “Hotels And Tourism Index” saw a slight decline of 0.08%.

  • SKBBL Lists 47,47,555.941 Unit Bonus Shares on NEPSE

    SKBBL Lists 47,47,555.941 Unit Bonus Shares on NEPSE


    Sana Kisan Bikas Laghubitta Bittiya Sanstha Limited (SKBBL) has recently listed a whopping 47,47,555.941 unit bonus shares on the Nepal Stock Exchange (NEPSE). This development follows the company’s 22nd Annual General Meeting (AGM) held on 29th Poush, 2080.

    During the AGM, SKBBL’s shareholders were delighted to hear about the approval of a generous 15% dividend for the fiscal year 2079/80. This dividend included 14.25% bonus shares and 0.75% cash dividend (inclusive of tax), showcasing SKBBL’s commitment to rewarding its investors.

    The newly listed bonus shares are now available for trading on NEPSE, providing shareholders and potential investors with enhanced opportunities for investment and growth. As of the latest update, SKBBL’s closing price stands at Rs. 822.00, reflecting positive market sentiment and investor confidence in the company’s performance.

    This listing of bonus shares on NEPSE not only benefits existing shareholders by increasing the value of their investments but also attracts new investors looking for promising opportunities in the financial market. SKBBL’s strong financial standing and strategic decisions continue to position the company as a reliable and attractive investment option in Nepal’s growing economy.

    Stay tuned for more updates on financial news and market trends as we continue to bring you the latest developments shaping the investment landscape.

  • Reliable Nepal Life Insurance (RNLI) Lists 64,00,000 Unit Bonus Shares on NEPSE

    Reliable Nepal Life Insurance (RNLI) Lists 64,00,000 Unit Bonus Shares on NEPSE


    Today, we are excited to share the recent listing of 64,00,000 unit bonus shares of Reliable Nepal Life Insurance Limited (RNLI) on the Nepal Stock Exchange (NEPSE). This development comes after RNLI’s successful 7th annual general meeting held on 29th Magh, 2080, where a significant dividend was endorsed for the fiscal year 2079/80.

    During the annual general meeting, RNLI’s board of directors approved a generous 16.84% dividend for the fiscal year, demonstrating the company’s commitment to rewarding its shareholders. The decision was made during the 126th board of directors meeting on Poush 24, where it was decided to distribute the dividend on the paid-up capital of Rs. 4 Arba. This distribution included 16% bonus shares valued at Rs. 64 crore and 0.84% cash dividend amounting to Rs. 3.36 crore.

    Following this announcement, the same bonus shares have now been officially listed on NEPSE, providing shareholders with increased liquidity and investment opportunities. As of the latest update, RNLI’s Last Traded Price (LTP) stands at Rs. 437.60, reflecting positive market sentiment and investor confidence in the company’s performance and future prospects.

    This listing of bonus shares on NEPSE not only benefits existing shareholders by enhancing the value of their investments but also attracts potential investors looking for promising opportunities in the insurance sector. RNLI’s strong financial performance and strategic decision-making continue to position the company as a reliable and lucrative investment option in Nepal’s dynamic market.

    Stay tuned for more updates on financial news and market trends as we continue to bring you the latest developments shaping the investment landscape.

  • Nepal Rastra Bank Unveils FY 2023/24 Macroeconomic Overview

    Nepal Rastra Bank Unveils FY 2023/24 Macroeconomic Overview


    Nepal Rastra Bank (NRB) has presented a comprehensive overview of Nepal’s current macroeconomic and financial status based on data from the first eight months ending mid-March 2023/24.

    Inflation and Trade

    • Year-on-year inflation remained stable at 4.82%.
    • Gross foreign exchange reserves reached USD 14.14 billion.
    • Total imports decreased by 2.7%, exports by 4.0%, and trade deficit by 2.5%.
    • Concessional loans extended to various sectors totaled Rs. 149.30 billion.
    • NEPSE index rose to 2108.73 from 1953.06 a year ago.

    Inflation Trends

    • Consumer price inflation moderated to 4.82%, down from 7.44%.
    • Wholesale price inflation decreased to 3.69%.
    • Merchandise exports fell by 4.0%, while imports decreased by 2.7%.
    • Remittance inflows increased by 21.0%.

    Foreign Exchange and Reserves

    • Gross foreign exchange reserves grew by 21.7% to Rs. 1872.82 billion.
    • Reserves-to-imports ratio improved to 103.1%.
    • Exchange rate depreciated by 0.73% against the USD.
    • Government expenditure increased by 2.9% to Rs. 801.58 billion.
    • Revenue mobilization rose by 9.7% to Rs. 639.05 billion.

    Banking and Credit

    • Domestic credit and claims on the private sector increased by 4.0% and 5.6% respectively.
    • Deposits at BFIs expanded by 7.6% to Rs. 435.87 billion.
    • Average base rates for commercial banks stood at 8.77%.

    Balance of Payments

    • Balance of Payments remained in surplus at Rs. 327.55 billion.

    Overall, Nepal’s economy shows resilience and positive growth indicators amidst global economic fluctuations.