Bookmark and Share
share with your friends

Save huge while you shop

Are you an online shopper? If so, then you might be interested to save money by getting promotional offers and discounts provided by thousands of stores of your choice (like Walmart, Overstock and many more). For getting huge collection of promotional offers and discounts visit CandlerCoupons.com

Saturday, July 18, 2009

Market makes a major shift as budget introduces investment friendly policies

0 comments
The market witnessed a major boost throughout the week gaining 4.69% in its index to close at 735.87 points. A market friendly budget announced on July 14 contributed to the bullish run of the week. Investor confidence has been fully revived as the government has introduced investment friendly policies such as the reduction in capital gains tax from 15% to 10% and the imminent implementation of the Central Depository System (CDS).

The Hydropower sector (+11.89) was the biggest gainer this week with substantial increases in share prices of Butwal Power Company (+Rs 170) and Chilime Hydropower (+Rs 100). Nepal Telecom´s (+Rs 52) share price made a big jump this week registering its highest market value in nine months to push up the ´Others´ sub-index (+9.20%). Most of the major commercial banks (+3.79%) performed strongly. Bank of Asia (+ Rs. 38) and KIST Bank (+ Rs. 32) registered the highest gains in the sector. Development banks (+2.60%) continued to advance from last week as most of the companies in the sector booked gains. Advancement in the market prices of United Finance (+Rs 74) and IME Financial Institution (+ Rs 50) pushed up the Finance sub-index (+1.49%). Insurance companies (+ 4.15%) also traded in the green; the biggest gainer in the sector was Nepal Life Insurance Company (+Rs 135).

Market turnover for the week was Rs 394,024,352 - a 3.06% increase over last week. The bulk trading for National Hydropower (Rs 47,343,400) continued this week. If these mutual bulk transactions are not taken into account, the market turnover increased by 11.44% compared to last week. The market witnessed a major leap this week because positive market sentiment has settled in; and the reduction in capital gains tax and introduction of CDS in October should increase the number of investors and further develop the capital market.

Source: Republica
Read More

Nepal Telecom to spend Rs 45m on service upgrade

0 comments
Nepal Telecom, the country´s telecom giant, is planning to invest Rs 45 million this in network expansion, addition of new cell phone and fixed line phones and enhancing the capacity of mobile and landline networks in the current fiscal.

The quasi-governmental company has set a target of distributing an additional 2.2 million mobile phones this year. It is also planning to increase the subscriber base of CDMA-based cell phone users by 400,000 and distribute 50,000 more copper-wire based landlines. With the subscription of all these lines, the customer base of NT is expected to touch seven million.

Till the last fiscal year, the total number of NT´s customers had reached 4.2 million, of which three million were cell phone subscribers, 718,000 were CDMA-based phone service users and 562,000 were landline users. With the distribution of all these services, NT had generated a net profit of Rs 9.97 billion last year, according to its unaudited balance sheet.

“Although I am not totally satisfied with the company´s performance last year I am happy with what we did and what we achieved,” Amar Nath Singh, chief of Nepal Telecom told journalists at a press meet on Friday. “I hope to focus more on reaching more of the rural areas and improving quality of our services this year.”

Many of the NT´s customers had complained about the service quality especially during the time when the country was experiencing power outage of up to 18 hours a day. In those days, one-third of NT´s base transceiver stations (BTSs) used to be down all the time. To counter such problems, NT is also mulling over increasing the backup capacity of base transceiver stations (BTSs) in 500 places by adding more batteries, using solar energy and diesel-fueled generators.

Concurrently, NT is also planning to enhance the capacity of GSM mobile phone network this year to 6.2 million. Likewise, the capacity of CDMA-based services and PSTN (fixed phone) service will be increased to 1.6 million and 830,000, respectively.

This year, NT is also planning to start ADSL-based internet service in 40 major cities outside Kathmandu Valley within the next six months and make this service available in all 75 districts within the end of this fiscal. It is also planning to increase the number of 3G mobile phone customers to 100,000.

Source: Republica
Read More

Rupee depreciation makes gold dear

0 comments
Nepali currency weakened against major convertible currencies including the US dollar over the week as the greenback gained against Indian currency, the only currency with which rupee is pegged. Rise in international gold prices coupled with currency movement pushed up the price of gold in the domestic market.

Currency

Nepali currency depreciated by 23 paisa against one US dollar over the week as the greenback gained in the Indian currency market. Rupee was valued at Rs 78.29 per dollar on Friday.

Nepal Rastra Bank had fixed the exchange rate of one US dollar at Rs 78.06 on Sunday. As dollar posted sharp gains against Indian currency, rupee was devalued at Rs 79.01 on Tuesday. Rupee, however, went on to appreciate over the next couple of days and was valued Rs 78.21 on Thursday, before weakening by 8 paisa on Friday.

Rupee also recorded a drop of Rs 1.24 and Rs 1.15 against euro and pound sterling respectively over the week. A euro was exchanged at Rs 110.10 on Friday, while a pound sterling was valued Rs 128.17 on the day. Going by the open market exchange regime, the rate may vary with the commercial banks.

Bullion

Gold became expensive by Rs 34.50 per gram over the week and was retailed at Rs 23,920 per 10 grams in the domestic market Friday. Dealers termed the rise as an impact of global gold price rally and weakening of rupee.

According to Nepal Gold and Silver Dealers´ Association, gold was traded at 23,575 per 10 grams on Sunday and continued to become expensive in the following days. It was priced at Rs 23,705 per 10 grams on Wednesday and Rs 23,835 on Thursday. On Friday also it gained Rs 85 per 10 grams.

The price of silver, on the other hand, dropped to Rs 353 per 10 grams on Friday from Sunday´s Rs 356. As Nepal fulfills domestic bullion requirements through imports, any fluctuation in international prices directly impacts the domestic prices.

Source: Republica
Read More

NRB, SLCB ink deal

0 comments
The financial information units of Nepal Rastra Bank (NRB) and Sri Lankan Central Bank (SLCB) have signed a Memorandum of Understanding (MoU).

The MOU was signed by the head of NRB’s financial information unit Dharmaraj Sapkota and H A Karunaratne, head of financial information unit of Sri Lankan Central Bank during the 12th annual meeting of Asia Pacific Group on Money Laundering (of which Nepal is a member) in Australia at July 9. NRB established the financial information unit in accordance with the Anti-Money Laundering Act 2064 to prevent money laundering and pro-terrorist activities such as earning black money and investing it in terrorist activities. In this context, the financial information unit of NRB has also disseminated information related to money laundering, papers and details related to this matter in order to facilitate and support investigation processes and enhance investigation regarding money laundering in the country. Apart from this NRB, also receives such information from other countries in accordance with the provisions of the MoU signed between the two countries.

NRB is hopeful that the MoU will not only put an stop to money laundering and investment of money in terrorist activities but also help in sharing related information. NRB is also hopeful of getting the membership of Egmont Group.

Source: THT
Read More

Friday, July 17, 2009

Assets of NDB honchos frozen

0 comments
Bank deposits, shares and lands owned by the family of Uttam Bahadur Pun, patron of Nepal Development Bank (NDB), and Chairman Amar Gurung have been frozen.

After the Revenue Investigation Department (RID) wrote to Nepal Rastra Bank (NRB) on Tuesday, the Security Board of Nepal (SEBON) and the Department of Land Reforms and Management (DoLRM) asking them to assist in freezing the duo's assets, these offices have frozen them by writing to the offices under them. As per the request made by NRB to the RID, it had written to the concerned offices to freeze the assets owned by the two accused persons.

They have been charged with embezzling Rs. 1.08 billion of NDB's property. A RID official said that it had already received confirmation from NRB about the freezing of their accounts in all banks and were awaiting confirmation from other offices too. SEBON chairman Surbir Poudel said that SEBON had already directed the Nepal Stock Exchange to freeze any trading of the shares owned by the two persons.

"I received the letter regarding Pun on Tuesday and directed NEPSE to freeze any trading of shares immediately," he said. "On Gurung's case, we directed NEPSE on Thursday as I obtained a letter from the RID the same day." Rajendra Prasad Sharma, director general of DoLRM, said that his office had written to all 83 Land Revenue Offices across the country on Wednesday directing them to bar trading of property owed by Pun and Gurung.
Source: eKantipur
Read More

Growing share issues lure merchant banks

0 comments
The number of companies providing merchant banking services is growing along with a rise in share issues. The latest entrant is Grow More Merchant Bankers Limited which has received an operating license from the Securities Board of Nepal (SEBON). Four other companies are awaiting approval, said SEBON officials. "We received the license on Thursday," said Jhapat Bohora, chairman of Grow More and president of the Development Banks Association.

Bohora added that Grow More had been permitted to operate as issue manager, share registrar and investment manager. "We are also going to apply for permission to do underwriting," he said. Grow More has been promoted by 30 development banks and finance companies and has a paid-up capital of Rs. 100 million. According to the Merchant Banker Regulation 2008, a company aiming to engage in all four aspects of merchant banking is required to have a paid-up capital of at least Rs. 70 million.

The four prospective merchant banks awaiting approval from SEBON are Nabil Bank, Capital Investment and Development Company, National Investment and Capital Markets and Akash Investment. Nabil has received a letter of intent from SEBON asking it to prepare the infrastructure required for merchant banking, said Prabin Raman Parajuli, Nabil's head of merchant banking.

It is the third commercial bank after NMB Bank and Development Credit Bank to diversify into merchant banking. "We are studying the documents of the other three companies," said Niraj Giri, spokesman of SEBON. A group led by Meghraj Ghimire, Sadhuram Parajuli and others has promoted Capital Investment and Development Company. Another group consisting of Sujan Kafle and others has promoted Akash Investment, and Nandan Hari Sharma, former chief executive officer of Citizen Investment Trust, is heading National Investment and Capital Markets.

There are presently 17 merchant banks in the country. With new companies coming up, those possessing a license to do only merchant banking fear a loss in business. Gyan Bahadur G.C., chief executive officer of Elite Capital, said they were facing uneven competition from banks and other financial institutions.
Source: eKantipur
Read More

NMB Bank: Right Share Allotment

0 comments
NMB Bank Ltd. has allotted its right shares on 14th July 2009 (2066 Ashad 30).
Read More

DCBL Bank: Right Share Allotment

0 comments
DCBL Bank Ltd. has allotted its right shares on 14th July 2009 (2066 Ashad 30).
Read More

Thursday, July 16, 2009

25% bonus share to CIT shareholders

0 comments
Citizen investment trust held its 14th Annual general meeting today 15 July, 2009 (2066, Ashad 31). The meeting approved to distribute 25% bonus share to its shareholder. The company has earned net profit Rs. 41.567 million during fiscal year 2064/065 where as it was Rs. 26.267 million during the year 2063/64. Similarly, during the fiscal year 2064/65 it had Rs. 59.992 million equity capital and Rs. 93.050 million on reserve fund. CIT made 110.889 million investment and hold Rs. 54.663 million fixed assets during the fiscal year 064/65.
Source: Jamb News Service
Read More

Hydropower energizes NEPSE

0 comments
The Nepal Stock Exchange (NEPSE) maintained its upward trend gaining 5.42 points at the end of trading Wednesday. The NEPSE index was up about 26 points on Tuesday.
All the sub-indices showed an increment on the floor. The highest gainer among the sub-indices was the hydropower sector which grew 64.36 points followed by the development bank sector with an increase of 5.11 points and the banking sector which increased 0.63 point.

Among the 19 commercial banks on NEPSE, Kist Bank posted the biggest growth with its stock rising by 33 points while Siddhartha Bank lost the most on the trading floor by shedding 50 points on Wednesday.

Similarly, among the nine development banks whose shares were traded on NEPSE on Wednesday, Sanima Bikas Bank witnessed the highest increase of 30 points while Ace Development Bank dropped 13 points.

Likewise, Annapurna Finance Company was the highest gainer among finance companies with an increase of 19 points in its share price. IME Financial Institution lost 19 points.

The turnover at NEPSE on Wednesday stood at Rs. 41.272 million through 51,528 units of shares.

The top gainer on NEPSE was Kuber Merchant Banking and Finance with a 9.57 percent rise in its stock price. Similarly, the top loser on Wednesday was DCBL Bank which fell by 3.97 percent.

The Bank of Kathmandu topped the chart in terms of turnover with Rs. 5.098 million.

Source: eKantipur
Read More

Paschimanchal Development Bank: Promoters Share Sale Notice

0 comments
Paschimanchal Development Bank Ltd. has announced the sale of its prevailing promoter share.
Read More

Today's Share Price (As of 2009-07-16)

0 comments
S.No.Traded CompaniesNo.of TransactionMax. PriceMin. PriceClosing PriceTotal ShareAmountPrevious ClosingDifference Rs.
1Annapurna Bikash Bank Limited5475466466520244,820483-17
2Ace Development Bank Limited85855555851,236704,682588-3
3Alpic Everest Finance Company Limited4481472472956452,636481-9
4Annapurna Finance Company Limited49689689681,0431,009,624970-2
5Business Development Bank Ltd.2645637645350224,550650-5
6Bhajuratna Fin.And Sav. Co. Ltd.1147147147446,468150-3
7Bank of Asia Nepal Limited12956051454010,1805,449,580571-31
8Bank of Kathmandu281,7151,6501,7102,7384,596,0701,750-40
9Clean Energy Development Bank Limited238628308601,4001,184,03084614
10Chilime Hydro power Co.31,2711,2501,250180227,1001,296-46
11Cosmic Mer.Bank And Fin.105104704974,9902,360,597518-21
12Citizens Bank International Limited896476006286,2103,844,490660-32
13DCBL Bank Ltd.11451440451777345,990460-9
14Everest Bank Ltd142,5002,4012,4205161,257,3562,455-35
15Everest Bank Limited Convertible Preference1970970970109,70095317
16Everest Insurance Co. Ltd.328528528521,1806,036,3002850
17Global Bank Limited12559540544990542,800570-26
18Himalayan Bank Ltd.71,7251,7001,7255841,001,7851,760-35
19ICFC Bittya Sanstha Ltd.8539519521780415,828550-29
20Infrastructure Development Bank Limited6535506535580300,83052510
21International Leasing And Fin. Co.115985765762,8801,696,360610-34
22IME Financial Institution1698294498015,69015,183,23593941
23Janaki Finance Ltd.2525515525240124,80050520
24Kumari Bank Ltd337196487006,8694,765,9887000
25KIST Bank Limited213923753833,7001,412,1753785
26Lumbini Bank Ltd.10429403429798330,994435-6
27Machhachapuchhre Bank Ltd8480446463810371,397489-26
28Nabil Bank Ltd.94,8024,7354,7755582,656,1724,899-124
29Nepal Bangladesh Bank Ltd.342862602806,6101,810,6502800
30Nepal Credit And Com. Bank83293233271,957639,499335-8
31Nepal Development And Employment Promotion Bank Limited104334204291,670714,46041712
32National Hydro Power Co.16949094509,20047,343,400940
33Nepal Investment Bank Ltd.241,3611,2501,3003,9585,071,0811,388-88
34Nepal Industrial And Co.Bank261,1301,0141,1302,7242,881,7321,1264
35National LifeInsu. Co.Ltd.1609609609436265,52459811
36NMB Bank Ltd.134944814851,170569,240499-14
37Nepal Share Markets Ltd.8282277282830231,9702820
38Nepal Doorsanchar Company Limited161761761710061,700629-12
39Pokhara Finance Ltd.24344264264017,200442-16
40Pashupati Development Bank Limited295054724851,420695,410515-30
41Reliable Finance Limited5690686690170117,020700-10
42Sanima Vikash Bank Ltd.247687057062,8722,073,912783-77
43Sahayogi Vikas Bank22082082089018,7202080
44Nepal SBI Bank Limited81,8621,8401,8501,8053,330,2081,900-50
45Siddhartha Bank Limited191,0009461,0004,2814,148,2921,0000
46Standard Chartered Bank Ltd.206,0005,6846,0004,64226,827,5486,010-10
47Sagarmatha Merchant Banking And Finance Limited27407407404029,6007391
48Standard Finance Ltd.233432832830098,580340-12
49Taragaon Regency Hotel1797979403,160781

Total Traded Amount Rs.:153,705,263
Total Traded Shares:631,164
Total Transactions:733

Source: www.nepalstock.com
Read More

Save up to 80% while you shop

Are you an online shopper? If so, then you might be interested to save money by getting promotional offers and discounts provided by thousands of stores of your choice (like Walmart, Overstock and many more). For getting huge collection of promotional offers and discounts visit CandlerCoupons.com

FREE! Get every updates in your mailbox
Email:  

If you are interested to publish your own articles and stories related to stock exchange, then you may submit your articles via our email. If you are interested to display your picture, then you may send your passport size picture. Our contact email address is: