BUSINESS & ECONOMY

Stock market showing bullish trend

By a staff reporter

After passing through a bearish phase for more than couple of years, Nepal’s only stock market, Nepal Stock Exchange Ltd. (NEPSE), is exhibiting the bullish trends. With the increasing number of scrip from banks and hotels, more people seem to be attracted towards the once dull market of shares.

As in the previous cases, the bullish trend of the stock market is attributed more to the scrip of banks. Demands for banking shares are high even during the bearish phase of the market. However, in the past some months, the overall index of the market has showed consolidation of the market.

"The trend in the stock market is obviously bullish now and the trend is very much in conformity with the performance of the listed companies," says Madan Raj Joshi, general manager of NEPSE.

For the past few weeks, recently listed scrip of Nepal Industrial and Commercial Bank (NIC Bank) is leading the market consecutively. "In terms of share turnover, shares units and transaction price, NIC Banks shares are doing pretty well in the market," says an investor at the market. "Everybody seemed to be running after acquiring the shares of this Bank."

The shares of this Bank are listed since June 28, 2000. The paid-up value of each piece of share price at Rs. 100 has now worth more than Rs. 450 after couple of weeks’ transaction in the market. "Looking at the present trend, anybody will be happy to buy shares of this Bank at the price of Rs. 500," said a share broker while talking about this scribe.

Last week, more than 73 thousand shares worth Rs. 33.4 million were traded in 1,121 transactions on the NEPSE trading floor. During this week, NIC’s price fluctuated between Rs. 436 and Rs. 497. However, stockbrokers guess that the value to its share may cross Rs. 600 in the coming couple of weeks.

The NEPSE Index also surged this week by almost 6.3 percent to close at 345.12 points on Friday. Besides the Banking scrip, Hotel scrip are doing very well in the stock market these days. Just a year before, when Tara Gaon Regency Hotel floated its shares, it sold out as a hot cake. The shares issued by this Hotel were oversubscribed by nearly 12 times whereas that by NIC Bank was oversubscribed by almost seven times.

While the stock market is continuing its bullish trend, Radisson Hotel Kathmandu is also preparing to its shares from Shrawan 21. Stockbrokers says that this Hotel has also good prospective in the market. "Companies like Bank of Cylon and Radisson Hotel Kathmandu are soon to float their shares," said Jagasish Agrawal, former President of Stock Brokers’ Association of Nepal (SBAN). "We can expect an overwhelming response to the shares of this companies too," he added.

Soaltee joins wildlife conservation campaign

By a staff reporter

World Wildlife Fund (WWF) Nepal Programme and Bass Hotels and Resorts represented by Soaltee Crowne Plaza Kathmandu on Friday announced the launch of a joint initiative to help conserve Nepal’s endangered wildlife. From July to November this year, travelers to Kathmandu can help stop the disappearance of some of our planet’s most endangered wildlife species by allowing for the addition of the local currency equivalent of one US dollar to the Soaltee Crowne Plaza.

The innovative campaign under the theme of "Sleep well, you have just saved a life," is formally started from July 1 and will continue till the end of November this year, officials of WWF Nepal Programme and Soaltee Crowne Plaza informed at a press conference.

According to them, each guest staying at the Hotel will be asked to provide one US dollar as a donation for the conservation of endangered species in Nepal. "A mechanism to add the amount on to Soaltee Crowne Plaza in-house guest’s bill is already in place to ensure maximum donation whose proceeds will go to WWF’s ongoing wildlife conservation work in Nepal," a press released on the occasion said.

The campaign here in Nepal is a part of Bass Hotels and Resorts-WWF initiative launched throughout the Asia Pacific region. Bass Hotels and Resorts is the managing company of Soaltee Crowne Plaza. A total of 33 hotels in 10 countries will be holding a five-month in-hotel fund raising promotion and awareness campaign to support endangered wildlife conservation programmes.

"Since the campaign started on July 1, none of the guest has denied to donate," said Ribhu Chatterjee, General Manager of Soaltee Crowne Plaza. Soaltee is the founding member of the Environment Committee of Hotel Association of Nepal (HAN).

"As a leader in conservation awareness in Nepal, we are committed to protecting the natural environment while maintaining high standards of customer service," said Chatterjee. "We are glad to have chose WWF to be part of this journey."

Some of the world’s most unique and threatened animal species are found in Nepal including the tiger, the Asian elephant, Asian rhino, and the snow leopard. WWF works to reduce threats to our endangered species through projects which include conserving the animals habitats, involving communities in wildlife and habitat management and implementing public awareness and education programmes on the importance of wildlife conservation.

Speaking at the launching ceremony, WWF Nepal Programmes Country Representative Dr. Chandra P. Gurung said that the donations collected by the Hotel would be spent in strengthening and expanding anti-poaching units in Chitwan and other national parks, which are home to many endangered wildlife including Royal Bengal tigers and one-horned rhinos.

"We are encouraged by Soaltee Crowne Plaza’s commitment to conservation and look forward to future collaborations that safeguard our natural heritage," Dr. Gurung said.