Tag: rate.

  • HEI Lists 615,983 Unit Bonus Shares on NEPSE

    HEI Lists 615,983 Unit Bonus Shares on NEPSE


    Recently, Himalayan Everest Insurance Limited (HEI) successfully listed 615,983 unit bonus shares on the Nepal Stock Exchange (NEPSE). This development comes after the company held its 29th Annual General Meeting (AGM) on the 29th of Chaitra, where significant decisions were made. During the AGM, the board of directors approved a 2.89% dividend for the fiscal year 2078/79.

    In a meeting held on Poush 26, the 297th meeting of the board, it was decided to distribute the dividend based on the paid-up capital of Rs. 2.23 Arba. The proposal included a distribution of 2.75% bonus shares worth Rs. 6.15 crores and a cash dividend of 0.14% amounting to Rs. 32.42 lakhs. These bonus shares, which were proposed and endorsed during the AGM, have now been successfully listed on the NEPSE.

    As of the current writing, the Last Traded Price (LTP) of HEI stands at Rs. 490. This indicates the market value per share based on recent trading activity. Investors and shareholders of HEI can monitor the market performance and value of their shares based on this LTP. The listing of the bonus shares on the NEPSE provides an opportunity for investors to engage in trading and potentially benefit from the company’s performance and growth in the insurance sector.

  • AHPC Board Decisions: Special General Meeting and Right Share Issuance

    AHPC Board Decisions: Special General Meeting and Right Share Issuance


    The Board of Directors of Arun Valley Hydropower Development Company Limited (AHPC) recently held a meeting at 3 PM, where they made significant decisions. One of the key resolutions reached during the meeting was to convene a Special General Meeting (SGM) on Ashad 07, 2080. The purpose of the SGM is to discuss and seek approval for various matters pertaining to the company.

    The primary agenda on the table is the endorsement of the issuance of right shares in a 1:1 ratio. This means that AHPC plans to issue 18,679,626 right shares with a par value of Rs. 100, amounting to a total value of Rs. 1.86 Arba. The intention behind issuing these right shares is twofold and has specific targets for the allocated funds.

    The first objective is to invest 50% of the total amount raised through the right shares, which corresponds to 9,339,813 unit right shares worth Rs. 93.39 crore, into the Likhu Khola Hydropower Project. This particular project, with a capacity of 30 MW, is being promoted by PK Hydropower Pvt. Ltd. By allocating these shares, AHPC aims to support the development and implementation of the Likhu Khola Hydropower Project.

    The second objective is to utilize the remaining 9,339,813 unit shares worth Rs. 93.39 crore to repay the loan taken by AHPC for the Kabeli ‘B’-1 Cascade Hydropower Project, located in Panchthar. The issuance of right shares will facilitate the company in meeting its financial obligations and reducing its debt burden.

    These decisions, which include calling for an SGM and endorsing the issuance of right shares with specific allocations, will be presented during the Special General Meeting. It is during this meeting that AHPC’s shareholders will have the opportunity to discuss, deliberate, and ultimately vote on these matters. The outcomes of the SGM will shape the future actions and direction of Arun Valley Hydropower Development Company Limited.

  • Gold Sets New All-Time High, Surging by Rs. 800 from Previous Day’s Price

    Gold Sets New All-Time High, Surging by Rs. 800 from Previous Day’s Price


    Gold has once again broken its all-time high record by increasing Rs. 800 from yesterday’s price. As reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association, the current trading rate for fine gold stands at Rs. 113,300 per tola, compared to yesterday’s rate of Rs. 112,500 per tola. Similarly, Tejabi gold is being traded at Rs. 112,750 today, while yesterday’s rate was maintained at Rs. 111,950 per tola.

    Yesterday, the price of gold reached an unprecedented high, with tejabi gold priced at Rs. 111,950 per tola and fine gold at Rs. 112,500 per tola. Alongside this, silver has also witnessed an increase of Rs. 25 per tola. Currently, silver is being traded in the local market at Rs. 1,435 per tola, compared to yesterday’s closing rate of Rs. 1,410 per tola.

  • NEPSE Faces Volatility and Ends Short Trading Week with a Significant Decrease of 4.74% in Index Value

    NEPSE Faces Volatility and Ends Short Trading Week with a Significant Decrease of 4.74% in Index Value


    This week, the Nepal Stock Exchange (NEPSE) had only four trading days as Monday was a holiday due to Republic Day. At the end of the week, the NEPSE index closed at 1,866.34, experiencing a loss of 92.78 points or -4.74%. In the previous week, the index had closed at 1,959.12, showing a gain of 4.36% compared to the week before.

    Throughout the week, the NEPSE index reached a high of 1,977.36 and a low of 1,837.43, indicating a volatility of 139.93 points. In the previous week, the volatility was 96.44 points. The largest intraday gain occurred on Tuesday, with an increase of 53.16 points and a turnover of Rs. 2.3 Arba. The total turnover for the week amounted to Rs. 8.95 Arba. In terms of trading volume, more than 2.89 crore unit shares were traded through 155,123 transactions.

    The current market capitalization of NEPSE stands at Rs. 2,74,651.40 million, which is equivalent to Rs. 27.24 Kharba. Despite the shortened trading week, the NEPSE experienced fluctuations and ended with a significant decrease in its index value.

  • Department of Tourism Generates Revenue of NRs. 76.57 Crore through Expedition Permits for Nepal’s Majestic Peaks

    Department of Tourism Generates Revenue of NRs. 76.57 Crore through Expedition Permits for Nepal’s Majestic Peaks


    The Department of Tourism (DoT) in Nepal has achieved a significant milestone by generating royalty of NRs. 66.64 crores through the issuance of expedition permits for Mt. Everest, the highest mountain in the world. As of May 14, 2023, during the ongoing Spring expedition season, a total of 478 expedition permits have been issued for Sagarmatha (Mt. Everest). This translates to 47 teams, consisting of 376 male climbers and 102 female climbers, who have obtained permits to ascend the majestic peak, towering at an elevation of 8,848.86 meters.

    Similarly, for Mt. Lhotse, the fourth-highest mountain globally with an elevation of 8,516 meters, the DoT has issued 156 individual expedition permits. Among them, 17 teams comprising of 116 male climbers and 40 female climbers have been granted the permits to scale this challenging peak. Through the issuance of scaling permits for Mt. Lhotse, the Department has collected a revenue of NRs. 3.53 crores.

    Additionally, eight teams consisting of 79 individuals, including 62 males and 17 females, will endeavor to conquer Ama Dablam, a mountain standing at 6,814 meters. The DoT has collected a royalty of NRs. 41.39 lakhs through the issuance of expedition permits for Ama Dablam.

    For Annapurna I, the tenth highest mountain globally, standing tall at 8,901 meters, a total of five teams have obtained permits to attempt the summit. These teams comprise 38 male climbers and 16 female climbers. As of May 14, 2023, the revenue accumulated from the permits for Annapurna I amounts to NRs. 1.04 crores.

    As of the same date, May 14, 2023, the Department of Tourism has issued a total of 1,176 expedition permits for 28 different peaks in Nepal. This diverse range of permits has contributed to a significant revenue of NRs. 76.57 crore for the Department.

  • Rawa Energy Development Limited Launches IPO Offering of 643,667 Shares to Raise Rs. 6.43 Crore

    Rawa Energy Development Limited Launches IPO Offering of 643,667 Shares to Raise Rs. 6.43 Crore


    Rawa Energy Development Limited has announced the opening of its initial public offering (IPO) of 643,667 unit shares with a face value of Rs. 100 per share. The IPO subscription period begins on 18th Jestha, 2080 and ends on 22nd Jestha. In the event of undersubscription, the closing date may be extended until 32nd Jestha, 2080.

    Previously, the company had issued 280,000 unit shares worth Rs. 2.8 crores to project-affected locals in Khotang District. However, only 87,370 units were allotted to valid applicants, leaving 192,330 units unsubscribed. These remaining shares, along with 560,000 units (20% of the issued capital) reserved for the general public, make up a total of 752,330 units available for the general public.

    Out of the total 752,330 units, 56,000 units have already been issued and allotted to Nepalese citizens working abroad, while 37,616 units have been set aside for mutual funds, and 15,047 units have been reserved for the company’s employees. The remaining 643,667 units are offered to the general public.

    The company aims to raise Rs. 6.43 crore through this IPO. Prabhu Capital Limited has been appointed as the issue manager for the IPO, and interested applicants can apply for a minimum of 10 units and a maximum of 10,000 units.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited. This rating suggests a moderate risk of default in terms of timely financial obligations in Nepal.

    Rawa Energy Development Ltd, initially incorporated as a private limited company on August 16, 2009, later converted to a public limited company on June 28, 2019. The company is promoted by experienced individuals in the hydropower and other sectors, with a focus on developing hydroelectric projects in Nepal. The company’s flagship project is the 3 MW Upper Rawa Khola Small Hydropower Project (URKHP) in Khotang District, which has been in commercial operation since September 20, 2020. The project follows the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • Gold Surges to New All-Time High in Nepalese Market, Gaining Rs. 500 per Tola

    Gold Surges to New All-Time High in Nepalese Market, Gaining Rs. 500 per Tola


    The price of gold in the local market has reached a new all-time high, increasing by Rs. 500 per tola. According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is currently being traded at Rs. 112,500 per tola, while Tejabi gold is being traded at Rs. 111,950 per tola. Yesterday, the rates were maintained at Rs. 112,000 and Rs. 111,450 per tola, respectively.

    Just the day before, gold prices had already reached an all-time high in Nepal, with fine gold priced at Rs. 112,000 per tola and Tejabi gold priced at Rs. 111,450 per tola. The continuous rise in gold prices has prompted discussions on the reasons behind the significant increase of Rs. 3,900 per tola in just two days in Nepal.

    In addition to gold, the price of silver has also experienced an increase of Rs. 15 per tola. Currently, silver is being traded at Rs. 1,410 per tola in the local market, compared to the previous day’s closing rate of Rs. 1,395 per tola.

  • NEPSE Index Gains 16.54 Points, Closes at 1,866.34 with 0.89% Increase; All Sector Indices Close Green

    NEPSE Index Gains 16.54 Points, Closes at 1,866.34 with 0.89% Increase; All Sector Indices Close Green


    The NEPSE index experienced a positive day, closing at 1,866.34, with a gain of 16.54 points compared to the previous trading day. This indicates a 0.89% increase. However, the index had faced a decline of 38.83 points in the previous session.

    The trading day began with an opening value of 1,850.79 for the index, and it reached its lowest point at 1,837.24 during intraday trading. On the other hand, it reached a peak of 1,877.00 before settling at 1,866.34 at the end of the day.

    A total of 272 scrips were traded through 29,922 transactions. The trading volume amounted to 6,128,621 shares, resulting in a turnover of Rs. 1.65 Arba. It is important to note that this turnover was lower than the previous trading day’s turnover of Rs. 2.31 Arba.

    Among the various stocks traded, Prabhu Bank Limited Promoter Share (PRVUPO) had the highest turnover of Rs. 23.21 crores, with a closing market price of Rs. 102 per share.

    Joshi Hydropower Development Company Ltd (JOSHI) showed the highest increase for the day, with a gain of 6.94%. Conversely, Sunrise Focused Equity Fund (SFEF) experienced the highest decline, losing 6% during the trading day.

    All sector indices concluded the day on a positive note, with the “Non-Life Insurance” sector experiencing the highest gain of 1.93%. The “Mutual Fund” sector had the smallest gain of 0.06% on the day.

  • IGI Prudential Insurance Limited Lists 30,293,347 Shares on NEPSE

    IGI Prudential Insurance Limited Lists 30,293,347 Shares on NEPSE


    Based on the information provided, it appears that after the merger between IME General Insurance Limited (IGI) and Prudential Insurance Company Limited (PICL), a new entity called IGI Prudential Insurance Limited was formed. The merger agreement was signed on Magh 27, 2079, and the swap ratio was 1:1.

    Prior to the merger, IGI had a total of 18,037,506 listed shares, while PICL had 12,255,843 listed shares. After the merger, the total number of shares listed on NEPSE for IGI Prudential Insurance Limited is 30,293,347 shares (18,037,506 + 12,255,843).

    On Baisakh 27, 2080, IGI Prudential Insurance Limited commenced joint transactions with an open price range set at Rs. 370.82 for the first transactions.

  • Life Insurance Companies in Nepal Compete to Increase Premium Collections

    Life Insurance Companies in Nepal Compete to Increase Premium Collections


    Insurance companies in Nepal are competing to increase their premium collections, the amount of money they receive from policyholders. During the first ten months of the fiscal year 2079/80, life insurance companies collected a total of Rs. 1.14 Kharba in premiums from their 1.38 crore active insurance policies.

    A report from the Nepal Insurance Authority revealed that Nepal Life Insurance Company Limited collected the highest premium amount of Rs. 29.65 Arba. They had 1,035,214 active insurance policies as of Baisakh 2080.

    On the other hand, Himalayan Life Insurance Limited collected the lowest premium amount of Rs. 15.11 Crores due to having only 595 active insurance policies. Himalayan Life Insurance was formed after merging Prime Life Insurance, Gurans Life Insurance, and Union Life Insurance, which is the largest merger in Nepal’s insurance sector.

    In another development, Sanima Life Insurance Company Limited and Reliance Life Insurance Company Limited completed their merger process with a swap ratio of 1:1. They have now combined to form ‘Sanima Reliance Life Insurance Company Limited’ since Chaitra 09.

    Among the insurance companies, Reliable Nepal Life Insurance Co. Ltd. has the highest number of active insurance policies, with 34,77,018 clients as of Baisakh 79/80. However, their premium collection amounted to only Rs. 3 Arba.

  • Rawa Energy Development Limited Launches IPO Offering 643,667 Unit Shares for Public Subscription

    Rawa Energy Development Limited Launches IPO Offering 643,667 Unit Shares for Public Subscription


    Rawa Energy Development Limited has initiated the issuance of 643,667 unit IPO shares, with a face value of Rs 100 per share, starting from today, the 18th of Jestha, 2080. The IPO is set to conclude on the 22nd of Jestha, and if the subscription falls short, the deadline may be extended until the 32nd of Jestha.

    In the past, the company allocated shares worth Rs. 2.8 crores to project-affected locals in the Khotang District. However, only 31.2% of the shares, amounting to 87,370 units, were allotted to eligible applicants. Consequently, the remaining 192,330 units of unsubscribed shares from the project-affected locals are now combined with 560,000 units, which represents 20% of the issued capital and is reserved for the general public. This brings the total number of shares available for the general public to 752,330 units.

    Out of the total shares, 56,000 units have already been issued and allocated to Nepalese citizens working abroad, while 37,616 units have been set aside for mutual funds, and 15,047 units are reserved for the company’s employees. The remaining 643,667 units are now made available for the general public to participate in the IPO.

    The company aims to raise a total of Rs 6.43 crore from this IPO. Prabhu Capital Limited has been appointed as the issue manager to oversee the IPO process. Interested investors can apply for a minimum of 10 units and a maximum of 10,000 units.

    CARE Ratings Nepal Limited (CRNL) has assigned an issuer rating of ‘CARE-NP BB (Is)’ to Rawa Energy Development Limited, indicating a moderate risk of default in terms of fulfilling financial obligations in Nepal.

    Rawa Energy Development Ltd is a public limited company that was initially incorporated as a private limited company on August 16, 2009, and subsequently converted to a public limited company on June 28, 2019. The company is promoted by experienced individuals with a strong background in the hydropower sector and other industries. Their focus is on establishing Hydroelectric Projects (HEP) in Nepal. The company currently operates the Upper Rawa Khola Small Hydropower Project (URKHP) with a capacity of 3 MW in the Khotang District. The project has been in commercial operation since September 20, 2020, and was constructed under the BOOT (Build, Own, Operate, and Transfer) mechanism.

  • Sunrise Bank Limited Promoters Auction 122,045 Units of Shares to Public and Institutions

    Sunrise Bank Limited Promoters Auction 122,045 Units of Shares to Public and Institutions


    Sunrise Bank Limited (SRBL) has announced that the existing promoters of the bank will be auctioning 122,045 units of shares to the general public and institutions starting from today, which is the 18th of Jestha, 2080. Initially, the founder shareholders had issued a notice on the 7th of Baisakh, informing about the auction of these 122,045 units of promoter shares. However, since no applications were received during that period, the shareholders have decided to re-publish the notice and open the auction to the general public once again.

    Interested individuals, companies, and institutions are eligible to participate in the auction, and they have a period of 7 days from the date of this notice’s publication, which is the 18th of Jestha, to submit their bids. The minimum bid rate set for the auction is Rs. 125. Shareholders who wish to participate must submit their bids at the central office of the bank, located in Gairidhara, Kathmandu.