KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The latest developments in Nepal’s financial landscape reflect a mix of positive market movements and key corporate performances.
The Nepal Stock Exchange (NEPSE) saw a modest rise, with the index gaining 6.54 points, suggesting stability after a slight decline in the previous session.
Meanwhile, gold prices continued to rise, reaching Rs. 170,200 per tola, indicating strong demand in the precious metals market.
In corporate news, Sarbottam Cement posted an exceptional 689.23% increase in net profit for Q1, showcasing robust revenue growth and efficient cost management.
Bishal Bazar Company also proposed a 14% cash dividend, reinforcing investor confidence.
Additionally, Ghanashyam Upadhyaya’s appointment as Finance Secretary could bring fresh perspectives to Nepal’s fiscal policies, further influencing the nation’s economic outlook.
Overall, these updates suggest a positive momentum in Nepal’s economy, driven by both market stability and strong corporate performance.
PM calls for private sector proposal to revive sick industries
Prime Minister (PM) KP Oli has called on the private sector to submit a detailed proposal for the revival of sick industries through a partnership model.
Speaking at a meeting of the Commerce-Industry Promotion Dialogue Council at the Office of the Prime Minister and Council of Ministers today, PM Oli urged the private sector to swiftly present a concrete proposal, emphasizing the government’s willingness to engage in partnerships.
NEPSE sees modest rise, closing at 2,683.86
The Nepal Stock Exchange (NEPSE) on Tuesday experienced a slight gain of 6.54 points (0.24%), closing at 2,683.86, after a decline of 10.98 points in the previous session.
Opening at 2,678.13, the index showed some volatility throughout the day, peaking at 2,691.91 and dipping to a low of 2,673.03.
The total turnover amounted to Rs. 7.24 billion, with 13,968,258 shares traded across 299 companies through 72,094 transactions.
Gold price rises by Rs 600 per tola today
The price of gold increased by Rs 600 per tola today (Tuesday).
According to the Federation of Nepal Gold and Silver Dealers, the price, which had risen on Sunday and Monday, continued to climb today. Gold was traded priced at Rs 170,200 per tola, after a rise of Rs 600.
Ghanashyam Upadhyaya appointed Finance Secretary
Ghanashyam Upadhyaya was appointed as the new Secretary of the Ministry of Finance, replacing Dr Ram Prasad Ghimire.
A farewell ceremony was held for Ghimire, who has been transferred to the Office of the President, following a decision by the Council of Ministers.
At the program, Finance Minister Bishnu Paudel expressed confidence that Upadhyaya would meet the nation’s expectations under his leadership.
Bishal Bazar Company Limited proposes 14% cash dividend
Bishal Bazar Company Limited (BBC) has scheduled its 34th Annual General Meeting (AGM) for 28th Falgun, 2081 BS.
The meeting will take place at the Army Officer’s Club in Bhadrakali, Kathmandu.
One of the key items on the agenda is the approval of a 14% cash dividend (including tax) based on the company’s paid-up capital of Rs. 4.01 billion.
Sarbottam Cement’s net profit jumps by 689.23% in Q1
Sarbottam Cement Limited (SARBTM) has reported a remarkable 689.23% increase in net profit, reaching Rs. 24.14 crore in the first quarter (Q1) of the fiscal year 2081/82, up from Rs. 3.05 crore during the same period last year.
The company’s revenue from operations grew by 35.94%, totaling Rs. 3.98 billion, while other income surged by 283.43% to Rs. 7.18 crore.
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