Nepse plunges by 6. 46 points on Wednesday
The Nepal Stock Exchange (NEPSE) plunged by 6. 46 points to close at 2,026.59 points on Wednesday.
Similarly, the sensitive index dropped by 1. 24 points to close at 363. 07 points.
A total of 6,341,174-unit shares of 313 companies were traded for Rs 2. 24 billion.
Meanwhile, Bottlers Nepal (Balaju) Limited (BNL), Himalaya Urja Bikas Company Limited (HURJA) and Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) were the top gainers today with their price surging by 10. 00 percent.
Likewise, Peoples Hydropower Company Limited was the top loser with its price dropped by 7. 84 percent.
At the end of the day, the total market capitalization stood at Rs 3. 18 trillion.
Gold price increases by Rs 400 per tola on Wednesday
The price of gold has increased by Rs 400 per tola in the domestic market on Wednesday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 118, 400 per tola today. It was traded at Rs 118, 000 per tola on Tuesday.
Similarly, tejabi gold is being traded at Rs 117, 850 per tola. It was traded at Rs 117, 450 per tola.
Meanwhile, the price of silver has increased by Rs 5 and is being traded at Rs 1,415 per tola today.
Nepse plunges by 1. 76 points on Tuesday
The Nepal Stock Exchange (NEPSE) plunged by 1. 76 points to close at 2,033.06 points on Tuesday.
Similarly, the sensitive index dropped by 0. 88 points to close at 364. 32 points.
A total of 9,342,546-unit shares of 314 companies were traded for Rs 3. 11 billion.
Meanwhile, Bottlers Nepal (Balaju) Limited (BNL) and Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) were the top gainers today with their price surging by 10. 00 percent. Likewise, GreenLife Hydropower Limited (GLH) was the top loser with its price dropped by 10. 00 percent.
At the end of the day, the total market capitalization stood at Rs 3. 19 trillion.
Four commercial banks in Nepse’s ‘Z’ group
Even the commercial banks, which are regarded as financially transparent, follow regulatory guidelines to the letter, and are considered excellent in corporate governance, have been included in the list of worst performers in terms of their financial standing, performance, and governance by Nepal Stock Exchange (Nepse).
Four commercial banks—Agricultural Development Bank Ltd, Nepal Investment Mega Bank Ltd, Kumari Bank Ltd, and Prabhu Bank Ltd—have been classified in Group ‘Z’ by Nepse. Out of 20 commercial banks in the country, only eight have been included in Group ‘A’ by Nepse.
A total of 31 companies listed on the bourse have been classified in Group ‘A’. The list includes eight commercial banks, seven development banks, one finance company, six microfinance institutions, and three hydropower companies. Nepal Reinsurance Company Ltd, Himalayan Distillery, Shivam Cements, Nepal Telecom, Hydropower Investment and Development Company, and Nepal Infrastructure Bank have also been included in Group ‘A’.
Garima, Lumbini, Mahalaxmi, Miteri, Muktinath, Shangrila, and Shine Resunga are the seven development banks that have made it to Nepse’s ‘A’ list. Likewise, Chhimek, First, Jiwan Biwaks, Sana Kisan, NIC Asia, and Swabalamban are the microfinance institutions included in Group ‘A’. Three hydropower companies—Butwal Power, Chilime Hydropower, and Sanima Hydropower—and one finance company—ICFC Finance are also in Group ‘A’.
Nepse has classified 35 companies in Class ‘B’, 70 in Class ‘G’, and 135 in Class ‘Z’.
Nepse has said that listed companies can ask for a review of the classification by furnishing proofs within 35 days. The stock exchange company has been classifying companies as per Rule 11 of the Securities Listing and Trading Rules, 2018.
As per Nepse, companies with a paid-up capital above Rs 1bn, that have been listed for a minimum of two years, consistently demonstrated profitability over the past three fiscal years, have a credit rating above average, distributed dividends, and conducted their annual general meetings within six months of the fiscal year-end have been classified in Group ‘A’.
Similarly, companies with a paid-up capital of at least Rs 500m, that have been listed for a minimum of three years, recorded profits in two out of the past three fiscal years, and held annual general meetings within six months of the fiscal year-end have been categorized in Class ‘B’.
Companies that have been listed for two years but have not met the criteria for either A or B groups have been classified in Group ‘G’. Companies that are not in either of the three groups have been classified in Group ‘Z’.
