Banking group gains

KATHMANDU: Banking group was the main gainer at Nepse this week.

Standard Chartered Bank Nepal gained Rs 542 to Rs 5,967 per share and Nabil Bank gained Rs 443 to Rs 4,878 per share in a single day — on Wednesday — pushing the banking index up. Standard Chartered Bank Nepal’s decision on August 12 for Rs 50 per share cash dividend and 2:1 bonus shares subject to approval from Nepal Rastra Bank and the bank’s AGM — buoyed Nepse.

Nepse gained 17.19 points to close at 717.2 points on Wednesday — the last day of trading for this week as Thursday was a public holiday.

Though transaction amount plunged by 47.82 per cent to Rs 389.3 million, the contribution of Group-A companies went slightly up by 47.82 per cent as against last week’s 44.29 per cent. The 78-scrip sensitive index also gained 7.33 points to 192.30. The float index — calculated on the basis of real transactions — rose by 2.15 points to close at 69.37 points.

Standard Chartered Bank Nepal (Rs 38.49m) topped the chart in terms of trading amount followed by Bank of Kathmandu (Rs 34.09m), Citizens’ Bank Investment (Rs 25.57m), Nepal Investment Bank (Rs 24.46m) and Butwal Power Company (Rs 23.48m).

National Hydropower Company topped the chart with 1,76,000-unit of shares being traded. Bank of Asia topped with 392 transactions.

The market gained on only one day on Tuesday due to present uncertainty and nervousness of investors.

Commercial banks, hydropower, finance, and insurance companies and manufacturing sub-groups gained while others and development banks sub-group performed badly and hotels and trading sub-group did not see any trading this week.

Arun Valley IPO allotted

KATHMANDU: NMB Bank Ltd allotted primary shares of Arun Valley Hydropower Development Coompany on Friday. The Hydrpower company — that has issued the primary shares adding premium of Rs 84 at a face price of Rs 100 per unit — had floated its 5,15,000-unit shares at Rs 184 per unit from June 23 to June 26. It has received a total of 1,10,737 valid applications but only 27,502 applicants got the shares. Arun Valley became the first company to float the shares adding premium though Chilime Hydropower is the first to recveive approval to add premium. — HNS