Announcements

Book Closure for Interim Cash Dividend: Unilever Nepal Ltd

Unilever Nepal Ltd has issued book closure notice for interim cash dividend from 23 September to 1 October 2010 (2067 Ashwin 7 to 15). 

Upcoming 26th AGM: NABIL

Nabil Bank Ltd has announced its upcoming 26th annual general meeting to be held on 11 October 2010 (2067 Ashwin 25).  

Up coming 1st AGM: Bright Dev Bank

Bright Development Bank Ltd has announced its upcoming 1st annual general meeting to be held on 9 October 2010 (2067 Ashwin 23).

RTS Appoionted: Siddhartha Development Bank Ltd

Siddhartha Development Bank Ltd has appointed Growmore Merchant Banker Ltd as Registrar to Share.

Book Closure For Right Share: Nirdhan Utthan Bank Ltd.

Nirdhan Utthan Bank Ltd. has announced its book closing date for 2:1 right share on 24 Sep 2010 (2067 Ashwin 8).

Siddhartha Dev Bank gets nod to go nationwide

01, Jan 2010

Siddhartha Development Bank, which initially got a license to operate within three districts, has got the approval to go nationwide from Nepal Rastra Bank (NRB).

After the Butwal-based finance company increased its capital to Rs. 640 million, a prerequisite for a national development bank as per the Bank and Financial Institutions Act, it was given the nod to go nationwide, said an NRB official. Currently, it has been operating in Rupandehi, Nawalparasi and Chitwan.

Source:
ekantipur.com

Market down over investors' worry

The Nepse index (-3.82%) witnessed yet another week of depression as IPOs lured investors toward the primary market. The increase in the inter-banking lending rate has also discouraged investors from borrowing. In addition, the Maoist party´s disclosure of its nation-wide protest plans further deflated investor confidence. Signs of stability, the market exhibited last week did not last with the announcements of bonus and cash dividend from some of the major companies. 

The Commercial Banking sub-index (-5.91%) descended as major banks like Everest Bank (-Rs 320) which is experiencing post-book closure price readjustment, NIC Bank (-Rs 101) which declared 15% bonus shares, Siddhartha Bank (-Rs 88) which declared 10% cash dividend, Siddhartha Development Bank (-Rs 5) which declared 5% cash dividend, all shed prices. Losses of API Finance (-Rs 55) which started trading last week, and the post-book closure readjustment in the share price of Nepal Express Finance (-Rs70) caused losses in the Finance sub-index (-1.63%) despite Merchant Finance (+Rs 103) and General Finance (+Rs 20) efforts to recoup the losses. Swawalamban Vikas Bank´s (+Rs 28) share prices appreciated but with losses in the majority of the development banks, the sector index (-1.55%) declined. Shikhar Insurance (-Rs 6) and Lumbini General Insurance (-Rs 8) posted declines to drag the Insurance sector down (-0.49%). The ´Others´ sub-index (-0.92%) plunged as Nepal Telecom (-Rs 10) shed value. The only sector to defy the market downtrend was the Hydropower sector sub-index (+0.98%) through the appreciation of Chilime Hydropower (+Rs 32).

Among other highlights, Bank of Kathmandu (-Rs 35) declared lucrative benefits of 40% bonus shares and 7.37% cash dividend. Kumari Bank (-Rs 59) and Kist Bank (-Rs 27) closed their books for 10% bonus shares, and 3.50% cash dividend respectively on October 30 which will impact the market next week. Shree Investment Finance also closed its book for 20% bonus shares and 5.26% cash dividend on October 23. Asian Life Insurance´s IPO offering was halted on 30 October because its offer price violates the Company Act. Civil Merchant Bittiya Sanstha (+Rs 6), United Insurance, Sagarmatha Merchant and Finance (-Rs 3) are selling 730 units, 25,575 units and 40,790 units respectively of their unsubscribed right shares. The market volume (Rs 276,356,647) has strengthened; however, the current downtrend is substantiated by signals from technical analysis tools.

 REPUBLICA 

5% Cash Dividend: Siddhartha Development Bank

28, Oct 2009

The BOD meeting of the Siddhartha Development Bank Ltd. has decided to give 5% cash dividend from the profit of fiscal year 2065/66 on subject to approval from NRB and its upcoming AGM. According to fourth quarter financial report of the bank, it has posted Rs. 42.389 millions as net profit and Rs. 56.446 operating profit. Just few weeks before, Nepal Rastra Bank has agreed in principle to allow Siddhartha Development Bank Ltd. to increase its capital base and upgrade it to a national level development bank. The development bank said it would soon move its headquarters to Kathmandu and start providing financial services at the national level. The bank has a client base of more than 25,000 and has a paid-up capital of Rs 645 million.

Source:  Jamb News Service

Siddhartha Dev Bank to go national

The Nepal Rastra Bank has agreed in principle to allow Butwal-based Siddhartha Development Bank Ltd to increase its capital base and upgrade it to a national level development bank. Issuing a statement on Monday, the development bank said it would soon move its headquarters to Kathmandu and start providing financial services at the national level.
The bank has a client base of more than 25,000 and has a paid-up capital of Rs 645 million. The bank collected Rs 2.1 billion in deposits and released Rs 1.6 billion in loans in the preceding fiscal year. The bank´s net profit for the period stood at Rs 36 million, the statement added.

NEPSE starts week with gain

Kantipur Report
KATHMANDU, Sept 7 - The Nepal Stock Exchange (NEPSE) started the week on a promising note as it went up by 2.17 points on Sunday. The index settled at 662.57 points when trading closed. The sensitive index lost 0.23 point.
The NEPSE sub-indices saw a mixed reaction as only two of them increased while three witnessed a downfall.
The development bank sector was the highest gainer increasing by 5.14 points followed by the finance sector which went up by 2.73 points. Similarly, the insurance sector was the biggest loser on the floor as it shed 4.12 points followed by the hydropower sector and the banking sector which fell by 1 point and 0.37 point respectively.
Total transactions on NEPSE reached Rs. 117.46 million with 178,992 units of shares being traded. Shares of 69 companies changed hands on Sunday.
Among the 21 commercial banks whose shares were traded on NEPSE on Sunday, Standard Chartered Bank posted the biggest growth with the stock rising 45 points while Laxmi Bank lost the most on the trading floor by shedding 83 points.
Similarly, among the 13 development banks, Sanima Vikash Bank witnessed the highest increase of 15 points while Clean Energy Develop-ment Bank lost 14 points.
Among the 24 finance companies, Merchant Finance Company promoter share was the highest gainer with an increase of 138 points in its share price. Guheyshwori Merchant Bank and Finance was the biggest loser shedding 59 points.
The top five winners on NEPSE were IME Financial Institution with a 6.54 percent rise in its stock price followed by Shikhar Bittiya Sansthan, Nepal Investment Bank, Capital Merchant Banking and Finance and Standard Finance.
Similarly, the top five losers on Sunday were Guhyeshwori Merchant Bank and Finance which fell 9.9 percent followed by Laxmi Bank, Nepal Awas Bikas Beeta Sansthan, Siddhartha Bank and World Merchant Bank.
Nabil Bank topped the chart in terms of turnover with Rs. 26.92 million.

Turnaround on the horizon as Share market enters oversell zone

REPUBLICA
The Nepse index (-3.10%) touched a three month low of 654.63 points on Tuesday, before closing at 660.40 points, as investors remained concerned over the supply impact of the conversion of 19% promoters´ shares. However, the current downtrend in the market is fundamentally unjustified, and the supply pressure has been overestimated.
Finance Companies were the key players in the market. Prudential Bittiya Sanstha (+Rs 37) which is closing its book for a 1:2 right issue on September 9 was the highest gainer followed by Bhajuratna Finance (+Rs 12) and Everest Finance (+Rs 28). However, the big losses of Guheshwori Merchant & Banking Finance (-Rs 139) whose shares traded for the first time since the issuance of 18% bonus shares and World Merchant Banking & Finance (-Rs 75) pulled down the Finance sub-index(-1.39%). The rest of the active sectors too traded in the red, with Commercial Banks (-4.10%) suffering the steepest decline as Bank of Kathmandu (-Rs 141) and DCBL Bank (-Rs 19) recorded the biggest losses in the sector. Development Banks (-2.50%) followed suit with Siddhartha Development Bank (-Rs 33) falling the most. Similarly, Hydropower sub-index (-2.07%) also declined because of the fall in share prices of Butwal Hydropower (-Rs 5). Although Lumbini General Insurance (+Rs 12) posted one of the highest gains of the week, the losses in the prices of the majority of the insurance companies contributed to the overall decline of the Insurance sub-index (-0.59%). Similarly, the depreciation of Nepal Telecom´s (-Rs 11) stock price dragged down the ´Others´ index (-1.78%).
Among other news, IME Financial Institution declared 1:3 right shares, and Sunrise Bank announced the distribution of its IPO. Additionally, Birgunj Finance and Goodwill Finance announced their book closure dates for 1:3.92 right (on September 7) shares and 1:1.5 right shares (on September 15) respectively. Business Development Bank also announced book closure for 1:2.1 right shares on September 14. The market attempted to recover on Wednesday by gaining 5.77 points. Technical analysis indicates that the market is currently in an oversell state and might have reached the threshold, in which case a slight uptrend can be anticipated next week. However, the strength of the uptrend remains uncertain due to regulation risks still lurking. The total turnover of the week amounted to Rs 34,54,33,241, with a 15.78% decrease in the average daily volume.