KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The Nepal Stock Exchange (NEPSE) saw a positive movement on Monday, rising by 28.91 points (1.11%) to close at 2,612.20, reflecting investor optimism and a rebound from the previous session’s loss.
The market witnessed fluctuations, with a turnover of Rs. 4.43 billion and strong participation from 328 companies.
Similarly, developments in the energy sector, such as the Rasuwagadhi Hydropower Project’s successful test production, highlight progress in Nepal’s renewable energy capacity.
On the corporate front, Kalika Power announced a 7.3684% dividend for FY 2080/81, signaling positive shareholder returns.
Meanwhile, the gold and silver markets also saw slight increases, with gold rising by Rs 200 per tola and silver by Rs 5, indicating upward trends in commodity prices.
NEPSE rises by 28.91 points
The Nepal Stock Exchange (NEPSE) experienced a positive surge of 28.91 points, or 1.11%, closing at 2,612.20, rebounding from the previous session’s loss of 13.53 points.
The market showed volatility, reaching a high of 2,612.20 and a low of 2,580.49 during the day.
Total turnover reached Rs. 4.43 billion, driven by 55,938 transactions involving 8.9 million shares across 328 companies.
Additionally, the market capitalization stood at Rs. 4.33 trillion, with a float market capitalization of Rs. 1.44 trillion.
The day’s performance was highlighted by three scrips hitting the positive circuit, reflecting investor optimism.
Rasuwagadhi Hydropower Project completes test production
The Rasuwagadhi Hydropower Project in northern Rasuwa has successfully completed its test production, generating 52 MW of electricity despite reduced water levels in the river due to cold weather.
The project, with a total installed capacity of 99 MW from three 33 MW units, is expected to reach its full capacity during the rainy season when water flow increases.
The total cost of the project is NPR 18.69 billion, and while construction began in 2014, it has faced significant delays due to a shortage of petroleum products, the 2015 earthquake, floods in the Bhotekoshi area, and disruptions in transportation due to a highway blockade.
Kalika Power proposes 7.3684% dividend for FY 2080/81
Kalika Power Company Limited (KPCL) has announced its Annual General Meeting (AGM) scheduled for 29th Poush, 2081, at Diyalo Foodland Chitwan Pvt. Ltd., where it will propose a 7.3684% dividend for the fiscal year 2080/81.
The proposed dividend includes 7% bonus shares worth Rs. 6.10 crores and a 0.3684% cash dividend of Rs. 32.15 lakhs, based on a paid-up capital of Rs. 87.28 crores.
The AGM will also discuss the endorsement of the auditor’s report, including the P&L statements, financial reports, and cash flow, and the appointment of an auditor for the next fiscal year.
Shareholders registered before the book closure date of 19th Poush will be eligible for the dividend and participation in the AGM.
Gold price up by Rs 200 per tola
The price of gold in the Nepali market has risen by Rs 200 per tola, reaching Rs 149,800, up from Rs 149,600 on Monday, according to the Federation of Nepal Gold and Silver Dealers.
Additionally, the price of silver has also increased, with silver now being traded at Rs 1,795 per tola, marking a Rs 5 rise.
Forex: US dollar hits all-time high
The US dollar has hit its highest value ever on Tuesday. Additionally, the prices of several other foreign currencies, including the Australian dollar, Kuwaiti dinar, and Bahraini dinar, have also risen.
However, currencies like the Euro and British Pound have seen a decline in value.
According to the rates issued by Nepal Rastra Bank, the buying rate for one US dollar today is 135 rupees 90 paisa, while the selling rate is 136 rupees 50 paisa. This is the highest exchange rate the US dollar has ever reached.
(Prepared by Srija Khanal)
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