The Securities Board of Nepal (SEBON) has given its approval for the “Himalayan 80-20” mutual fund scheme, which is valued at Rs 1 Arba. This closed-end scheme will offer 10 crore unit shares with a par value of Rs 10 per share. The scheme is sponsored by Himalayan Bank Limited (HBL) and managed by Himalayan Capital Limited. It is noteworthy that this is the first mutual fund scheme to be operated by Himalayan Capital.
.Today, the NEPSE index ended at 2,049.44, experiencing a decline of 39.26 points compared to the previous trading day. This translates to a loss of 1.88%. Yesterday, the index had gained 12.73 points. The trading day started with an opening of 2,090.38 and reached a high of 2,101.59 during intraday trading. However, it also dropped to a low of 2,046.55 before closing at 2,049.44. In total, there were 277 scrips traded through 53,103 transactions, with a turnover of Rs. 3.07 Arba, which is higher than the turnover of Rs. 2.57 Arba on the previous trading day.
Today, the NEPSE index, which measures the performance of the Nepalese stock market, closed at 2,088.70 points. It gained 12.73 points compared to the previous trading day, resulting in a 0.61% increase. Yesterday, the index had experienced a loss of 21.32 points.
The trading day started with an opening index value of 2,079.42. Throughout the day, the index reached its highest point at 2,104.38 and its lowest point at 2,067.22 before settling at 2,088.70 at the end of trading.
A total of 282 different scrips were traded, and there were 46,731 transactions. In terms of shares, a total of 6,450,934 were exchanged, equivalent to a turnover of Rs. 2.57 Arba. However, this turnover amount is lower than the previous trading day’s turnover of Rs. 4.05 Arba.
Today, the NEPSE index finished at 2,064.83, dropping 26.56 points compared to the previous trading day’s close. This loss amounts to 1.27%. Yesterday, the index had lost 2.94 points. The index began today’s trading at 2,093.56 and reached its highest point of the day at 2,117.30. However, it also experienced a dip, hitting a low of 2,057.03 before settling at 2,064.83 for the closing.
Prabhu Life Insurance Company recently held its 5th Annual General Meeting (AGM) under the chairmanship of Mr. Subhash Amatya on Jestha 26, 2080.
During the AGM, the financial reports for the previous fiscal year were approved. In addition, the meeting decided to distribute 9.80% bonus shares and 0.51% cash dividends to the shareholders. These dividends serve as a return on their investment in the company. Moreover, the AGM elected new members to the Board of Directors, including Ms. Shikshya Bhattachan, Ms. Mijas Bhattachan, Mr. Shyam Krishna Shrestha, and Mr. Sushan Sherchan from the promoter shareholder group, as stated in the media statement.
Furthermore, the AGM endorsed the proposal for a merger with Mahalaxmi Life Insurance. The merger will be conducted using a share swap ratio of 100%, resulting in the formation of a new entity named Prabhu Mahalaxmi Life Insurance. According to the media statement, the joint operations of the merged entity are expected to commence by the end of Asar, 2080.
Overall, the AGM marked important decisions regarding dividend distribution, Board of Directors’ composition, and the merger with Mahalaxmi Life Insurance, leading to the formation of Prabhu Mahalaxmi Life Insurance.
The NEPSE index experienced significant gains today, closing at 1,980.09 points, which is an increase of 40.48 points from the previous trading day’s closing. This represents a gain of 2.09% in the overall index value. Last Thursday, the index had gained 7.27 points.
The trading day started with the index opening at 1,941.52 points and reaching its lowest point at 1,941.24 points. However, it climbed as high as 1,983.98 points before settling at 1,980.09 points at the close of trading.
During the day, a total of 275 scrips were traded through 61,450 transactions. The shares exchanged amounted to 9,528,255, with a turnover value of Rs. 3.45 Arba. This represents an increase compared to the previous trading day’s turnover of Rs. 2.305 Arba. Notably, this is the highest turnover observed in the last four months, since February 8, 2023, when the turnover amounted to Rs. 3.69 Arba.
Among the traded shares, Citizen Investment Trust (CIT) had the highest turnover of Rs. 11.47 crores, closing at a market price of Rs. 2,458 per share. The shares of SNMAPO were the most actively traded.
In terms of individual stock performance, Bhugol Energy Development Company Limited (BEDC) registered the highest gain of 10%, followed by City Hotel Limited (CITY) with a gain of 9.99%. On the other hand, Global IME Balanced Fund-1 (GIBF1) experienced the highest loss of 3.83% on the day.
In a positive note, all sector indices closed in the green. The “Finance” sector witnessed the highest gain of 5.72%, while the “Mutual Fund” sector had the lowest gain of 0.42% on the day.
Jalpa Samudayik Laghubitta Bittiya Sanstha Limited (JALPA) has announced that today is the final day for shareholders to avail the proposed dividend. The company has scheduled its 4th Annual General Meeting (AGM) to take place on 4th Ashad, 2080. The AGM will be held at The SR Hotel in Tilottama Municipality -01, Drivertole, Rupandehi, starting from 9 AM on that day.
One of the key agendas of the AGM is to approve a dividend of 15% for the fiscal year 2078/79. The decision to distribute the dividend is based on the paid-up capital of Rs. 16 Crores. It has been proposed to distribute a cash dividend of 0.75%, amounting to Rs. 12 lakhs, and a bonus share dividend of 14.25%, worth Rs. 2.28 crores.
The book closure date for entitlement to the dividend is on Jestha 23. Therefore, shareholders who have maintained their shares until today are eligible for the dividend payout and are welcome to attend the upcoming AGM.
The dividend announcement by JALPA provides an opportunity for shareholders to benefit from their investment in the company. Attending the AGM allows shareholders to stay updated on the company’s performance, participate in decision-making, and engage with fellow shareholders.
The NEPSE (Nepal Stock Exchange) index concluded today’s trading session at 1,919.37 points, marking an impressive gain of 53.03 points from the previous closing. This increase translates to a growth rate of 2.84%. Last Thursday, the index had experienced a gain of 16.54 points.
Interestingly, despite the market being scheduled to open at 11:00 am this morning, all 50 current brokers were still non-operational. In light of this situation, a meeting was arranged with relevant stakeholders at the Ministry of Finance’s Singhadurbar headquarters. During the meeting, Dr. Prakash Sharan Mahat, the current finance minister, emphasized that investors should remain calm and assured them that the only tax applicable to profits from trading shares would be the Capital Gain Tax (CGT).
The trading day commenced with the index opening at 1,866.35 points. At its lowest point in the intraday session, it reached 1,865.73 points. However, it experienced a significant surge, reaching as high as 1,925.11 points before ultimately closing at 1,919.37 points. These fluctuations throughout the day reflect the dynamic nature of the stock market and the varying levels of investor activity and sentiment.
Overall, the NEPSE index’s upward movement and the reassurances provided by the finance minister aim to instill confidence among investors and maintain stability in the market. Investors will continue to closely monitor the performance of the index and make informed decisions based on the prevailing market conditions.
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.
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.
FonePay, the driving force behind Nepal’s digital payment system, is making significant strides towards launching its initial public offering (IPO). The company’s CEO, Diwas Sapkota, announced the collaboration with NMB Capital, leveraging their expertise to prepare for the IPO and inspire other tech companies in Nepal. With over 1.7 million mobile banking app and digital wallet users, FonePay has become an integral part of the country’s digital economy, transcending traditional payment methods.
As FonePay expands its reach to all local levels across Nepal’s seven provinces, it solidifies its position as a key player in the digital economy outlined in the Digital Nepal Framework. Its seamless QR code scanning payment service has transformed the way people transact, fostering a greater dependence on virtual money over physical cash. With a vast network of 1.1 million merchants and facilitating daily transactions worth over Rs 5 billion, FonePay has garnered the trust of over 60 banks and financial institutions.
While the exact date for FonePay’s IPO announcement is yet to be determined, the groundwork for the IPO has already commenced. Sapkota emphasizes that FonePay aims to set a benchmark for the technology sector in Nepal, inspiring other companies to follow suit. By partnering with NMB Capital, FonePay secures the support and guidance required to achieve its vision of drawing in public investments.
Lastly, FonePay’s upcoming IPO marks a significant milestone in Nepal’s technology sector, setting a precedent for other companies in the industry. With NMB Capital as their consultant, FonePay is well-equipped to navigate the IPO process successfully. As the digital payment leader, FonePay continues to revolutionize payment behaviors, empowering users with convenient and secure transactions. Keep an eye out for the IPO announcement, as FonePay prepares to unlock new growth opportunities and expand its influence in the dynamic landscape of digital payments.