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Top Headlines: Takeover financing rife in Nepali banking. Borrower poaching is not a new phenomenon in Nepal. Older banks with larger portfolios and low cost of funds are found to be involved in this practice. (Source: The Kathmandu Post) Citizen Investment Trust (CIT) proposes pool fund for market maker. (Source: The Himalayan Times) ICRA Nepal to start operations soon. (Source: The Himalayan Times) 26th Confederation of Asia- Pacific Chambers of Commerce and Industry (CACCI) conference kicks off in Kathmandu. Members hope the meet will boost investment, trade. FNCCI signs MoU with Turkish, Georgian business communities. (Source: The Kathmandu Post) Crisis- ridden Financials institutions plan to give Dashain relief to depositors.The FIs plan to raise funds either by recovering loans or selling collaterals. (Source: The Kathmandu Post) Swine flu strain not fatal, say docs. A doctor, however, says the flu could be fatal if it infects children and people with chronic diseases. (Source: The Kathmandu Post) 36 Janajati members walk out on Congress. (Source: The Kathmandu Post) UCPN (Maoist) split most manifest in Maoist strongholds. (Source: Republica) Secy bypassing NEA to upgrade Upper Trishuli- 3A. insisted on forming recommendations committee. (Source: Republica) 4 Finance companies under NRB scanner, they are World Merchant Banking and Finance, General Finance Limited, Lalitpur Finance Limited and Nepal Finance Limited (Nefinsco). (Source: Republica) Government rolls back common alignment decision. Shared alignment only if Fast Track developer wished. (Source: Republica) Workers federation puts forth 11- point demands to PM. (Source: Republica) More flights added on Pokhara- Kathmandu route. (Source: Republica) Honda, Maruti Suzuki cars to be dearer after Dashain. (Source: Republica) Ncell cuts roaming rate to India by 90%. (Source: Republica) Ban on satchels to lighten pre-school kids load. Maximum weight of bags for other students prescribed. Proposal to be sent for approval soon. (Source: The Himalayan Times) Late ex- minister Sharma convicted. Special Court asks confiscation of Rs 22.7 million from family. (Source: The Himalayan Times)
MARKET INFORMATION
As of 17th Ashwin, 2069 Index NEPSE Sensitive Float Sen. Float NEPSE Sub-Indices Banking Hotels Dev. Bank Hydropower Finance Insurance Others Banking Current Points Change %Change
554.14 -11.44
Market Summary
Total Turnover Rs: Total Traded Shares Total Transactions Total Scrips Traded
70,104.83 Millions
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Hallmark Gold
Rs. 59,201/Tola
Tejabi Gold
Rs. 58,950/Tola
Current IPOs:
Company
Reliance Finance Limited
Silver
Rs. 1,185/Tola
International Business: Kingfisher talks with staff fail, shares fall. (Source: The Kathmandu Post) ADB cuts Asia growth forecasts to the lowest level since 2009, citing a slowdown powerhouses China and India. (Source: The Kathmandu Post) Russian capital flight hits $58 billion. (Source: The Kathmandu Post) Cash strapped Nokia might sell headquarters. (Source: The Kathmandu Post) Apple smartphones gaining on Samsung in US. (Source: The Kathmandu Post) General News: Rs 5 billion to be allocated to decrease load shedding hours in coming months. (Source: Karobar Daily) Gorkha Development Bank Limited has published a notice to its depositors. (Source: Karobar Daily) 89,000 goats, sheep to be brought to Kathmandu for Dashain. (Source: The Kathmandu Post)
Open Date
7th Aswin, 2069
Close Date
10th Aswin, 2069
Issue Manager
NCM Merchant Banking Ltd and CIT NCM Merchant and CIT
IPO News: Sebon has given consent to Civic Development Bank Limited to issue IPO shares worth Rs 28 million to the general public soon in near future. (Source: Karobar Daily) Share Certificate: Supreme Development Bank Limited is going to distribute former merged Annapurna Bikas Bank Limited and Suryadarshan Finance Limited shareholders new share certificates from today from Elite Capital limited. (Source: Nagarik Daily)
BUSINESS CYCLE: The term business cycle (or economic cycle) refers to economywide fluctuations in production or economic activity over several months or years. These fluctuations occur around a long-term growth trend, and typically involve shifts over time between periods of relatively rapid economic growth (an expansion or boom), and periods of relative stagnation or decline.
AGM/Special AGM: Karnali Development Bank Limited has announced its 8th AGM going to be held on 18th Kartik, 2069. (Source: Annapurna Post) Sanjen Hydropower Company Limited has announced its 2nd AGM going to be held on 27th Asoj, 2069. (Source: Himalayan Times) Sanima Mai Hydropower Limited has announced its 1st AGM going to be held on 17th Kartik, 2069. (Source: Soorya Dainik)
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