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) on Sunday saw a slight dip of 0.42%, closing at 2,688.31, continuing its downward trend from the previous session.
Despite opening at 2,697.52, the index fluctuated throughout the day, highlighting market volatility.
Trading activity remained robust, with a turnover of Rs. 8.39 billion, driven by 15.8 million shares traded across 305 companies.
The trading sector led the gains. Meanwhile, gold prices experienced a modest rise, recovering from Friday’s drop, while silver prices saw a slight decline.
In corporate news, Chhimek Laghubitta reported a 17.33% growth in its Q2 net profit, largely due to a significant reduction in impairment charges.
Similarly, Nepal Life Insurance posted a 9.45% increase in net profit, driven by strong performance in premiums and investment activities.
Additionally, Rastriya Banijya Bank secured funding for the 4.6 MW Super Machha Khola Hydropower Project, which will contribute to the country’s renewable energy capacity.
NEPSE drops 0.42%, closes at 2,688.31
NEPSE experienced a decline of 0.42%, dropping 11.49 points to close at 2,688.31 on Sunday. This follows a loss of 11.64 points in the previous session.
The dropping 11.49 points to close at 2,688.31. This follows a loss of 11.64 points in the previous session.
The index opened at 2,697.52 and fluctuated throughout the day, reaching a high of 2,725.95 and a low of 2,683.28.
The total turnover amounted to Rs. 8.39 billion, with 15,855,610 shares traded across 305 companies in 84,280 transactions. The trading sector saw the highest gains.
Gold prices see a slight rise
The price of gold, which dropped on Friday, saw a modest increase on Sunday, rising by 100 rupees per tola.
The Federation of Nepal Gold and Silver Dealers reported that gold was priced at 168,200 rupees per tola on Sunday.
After a 5,700 rupee increase over the past three days, gold experienced a 400 rupee drop per tola on Friday, with prices at 168,100 rupees per tola.
In contrast, silver prices decreased by 15 rupees per tola, with silver trading at 1,960 rupees per tola.
Chhimek Laghubitta reports 17.33% growth in Q2 net profit
Chhimek Laghubitta Bittiya Sanstha Limited (CBBL) reported a net profit of Rs. 51.18 crore for the second quarter (Q2) of the fiscal year 2081/82, marking a 17.33% increase compared to Rs. 43.62 crore during the same period last year.
Although net interest income declined by 1.88% to Rs. 1.35 arba, the company’s profitability was bolstered by a significant 46.85% reduction in impairment charges, which fell to Rs. 12.79 crore.
Nepal Life Insurance Company Q2 report: Net Profit Climbs 9.45%
Nepal Life Insurance Company Limited (NLIC) posted strong financial results for the second quarter of the fiscal year 2081/82, with a 9.45% increase in net profit.
The company’s net profit reached Rs. 46.81 crore, up from Rs. 42.77 crore in the same quarter last year.
NLIC’s financial position includes a paid-up capital of Rs. 8.2 billion, alongside reserves of Rs. 2.38 billionin retained earnings, Rs. 78.26 crore in other equity, and Rs. 1.3 billion in catastrophe reserves.
The company saw a 12.26% rise in net premiums, totaling Rs. 22.12 billion, and generated Rs. 9.22 billion from investments, loans, and other financial activities.
Rastriya Banijya Bank to fund 4.6 MW Super Machha Khola Hydropower Project in Gorkha
The 4.6 MW Super Machha Khola Hydropower Project will be developed in Laprak, Gorkha, with financial support from Rastriya Banijya Bank Ltd. (RBBL).
A loan agreement between Budhigandaki Hydropower Pvt. Ltd. and RBBL has secured Rs. 674.68 million in funding for the project, which has a total estimated cost of Rs. 963.83 million.
The hydropower plant is expected to produce 27.379 GW annually and be completed within 18 months.
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