4th Floor Trade Tower, Thapathali, Kathmandu
Contact No: 01-5111145
Newsletter Published on 30th October 2020
Index Value
NEPSE 1645.68
SENSITIVE 328.04
FLOAT 115.16
SEN. FLOAT 108.51
Your companion to Nepal Stock Market
AAKASH CAPITAL LIMITED Weekly Newsletter from Aakash Capital Limited for the week ending on 30th October, 2020
NEPSE UPDATE
Indicators
25th Oct, 29th Oct, (+)/(-)
2020 2020 Change
%
NEPSE 1606.25 1645.68 2.45%
SENSITIVE 318.56 328.04 2.98%
FLOAT 112.09 115.16 2.74%
SEN. FLOAT 105.31 108.51 3.04%
BANKING 1292.05 1340.92 3.78%
TRADING 1099.22 1105.35 0.56%
HOTELS 1734.38 1751.81 1.00%
DEVELOPMENT BANKS 2091.74 2135.89 2.11%
HYDROPOWER 1379.32 1389.93 0.77%
FINANCE 849.67 860.43 1.27%
NON LIFE INSURANCE 7993.84 8080.8 1.09%
MANU. & PRO. 3057.75 3043.78 -0.46%
OTHERS 1039.02 1059.42 1.96%
MICROFINANCE 2535.96 2573.88 1.50%
LIFE INSURANCE 9599.77 9719.31 1.25%
MUTUAL FUND 10.61 10.63 0.19%
Market Summary Statistics (25th to 29th October, 2020)
Total Turnover (Rs) 5,763,688,914
Total Traded Shares 19,687,692 Total Number of Transactions 84,527 Scrips Traded 192
Market Cap at Week start 2,146,012.73 Millions
Market Cap at Week end 2,198,684.20 Millions
Floated Market Cap at Week start 759,266.81 Millions Floated Market Cap at Week end 780,058.92 Millions
Bullion Update
As on 29th October 2020 Hallmark Gold Rs.94,700/tola
Worked Gold Rs.94,200/tola
Silver Rs.1,180/tola
Quote for the week
“The key to making money in stocks is not to get
scared out of them.”
– Peter Lynch
The market increased by 2.45% (39.43 points) in the
trading week between 25th and 29th October 2020. The
sensitive index, which measures the performance of
the companies classified under group “A”, also
registered the gain of 2.98% (9.48 points). Similarly,
float index which measures the performance of
securities which are floated to public also went up by
2.74% and sensitive float followed the trend by
increasing 3.04%.
This week market opened at 1606.25 on Wednesday
and went up 41.2 points to sit at 1647.45 level. Market
couldn’t continue its increasing trend as a result it
declined by 1.77 points to end the week at 1645.68
level. Market was closed on Sunday, Monday and
Tuesday on the occasion of Bijay Dashami.
In this review period, all the sub-index closed higher
except the Manu. & Pro. sub-index. Rise in majority of
sub-indices have let market to increase with 39.43
points. Banking sub-index which increased 3.45%
previous week registered the highest gain with 3.78%
this week. Development Bank sub-index has also
gained 2.11% in the review week. Trading sub-index
which registered highest gain in previous week
continued its increasing trend with 0.56% this week.
Similarly, Hotels, Hydropower, Finance, Non-Life
Insurance, Others, Microfinance, Life Insurance and
Mutual Fund sub-indices also registered the gain with
1%, 0.77%, 1.27%, 1.09%, 1.96%, 1.5%, 1.25% and
0.19% respectively in the review week. However,
Manu. & Pro. sub-index which gained 1.37% previous
week registered fall with 0.46% in the review week.
The market witnessed increasing volume of
transaction turnover this week. The total turnover
stood at Rs.5.76 billion with average of Rs.2.88 billion
a day. Total market value increased by Rs.52,671.47
million as the market capitalization went up by 2.45%.
Similarly, floated market cap also registered the rise of
2.74% this trading week.
.
Market Announcements
API Power Company Limited is issuing it's 1:0.47 ratio 56,70,000 units right share to its shareholders from 14th Kartik
to 4th Mangsir, 2077.
Nepal Insurance Company Limited has published a notice regarding bid opening date of 5,00,000 units promoter
shares of (Nepal Credit & Commerce Bank Limited) on 16th Kartik, 2077.
National Microfinance Laghubitta Bittiya Sanstha Limited has published a notice regarding bid opening date of
1,10,000 units promoter share in the auction to the general public on (16th Kartik, 2077).
Mountain Energy Nepal Limited is refunding the amount to the non-allottee of 19,68,020 units IPO shares issue to the
project-affected locals' residents of Nuwakot and Myagdi District from 14th Kartik, 2077.
First Microfinance Laghubitta Bittiya Sanstha Limited has posted a net profit of Rs 29.71 million and published its 1st
quarter company analysis of the fiscal year 2077/78.
Samudayik Laghubitta Bittiya Sanstha Limited has posted a net profit of Rs 1.12 million and published its 1st quarter
company analysis of the fiscal year 2077/78.
Citizens Bank International Limited has posted a net profit of 515.59 million and published its 1st quarter company
analysis of the fiscal year 2077/78.
Nepal Bank Limited has posted a net profit of Rs 550.41 million and published its 1st quarter company analysis of the
fiscal year 2077/78.
Forward Community Microfinance Bittiya Sanstha Limited has changed its name to Foward Microfinance Laghubitta
Bittiya Sanstha Limited.
Nepal Rastra Bank has published the monthly balance sheet for the month of Ashwin, 2077.
Machhapuchchhre Bank Limited published its base rate of Ashwin End, 2077.
Sunrise Capital Limited has published (Sunrise First Mutual Fund) Net Assets Value (NAV) till Ashwin, 2077.
Global IME Capital Limited has published (Global IME Samunnat Scheme-1) Net Assets Value (NAV) till Kartik, 2077.
Laxmi Capital Market Limited has published the “Laxmi Unnati Kosh” Net Asset Value (NAV) till Ashwin, 2077.
Sanima Bank Limited has announced its 16th AGM going to be held on 28th Kartik, 2077, and published its audited
financial highlights of the fiscal year 2076/77.
BOK Capital Market Limited has announced its 5th AGM going to be held on 5th Mangsir, 2077.
Machhapuchchhre Capital Limited has announced its 1st AGM going to be held on 4th Mangsir, 2077.
Nepal Infrastructure Bank Limited has announced its 2nd AGM going to be held on 3rd Mangsir, 2077.
Nepal SBI Merchant Banking Limited has announced its 5th AGM going to be held on 27th Kartik, 2077.
Muktinath Capital Limited has announced its 11th AGM going to be held on 27th Kartik, 2077.
Kriti Capital & Investment Limited has announced its 9th AGM going to be held on 4th Mangsir, 2077. Nabil
Investment Banking Limited has announced its 11th AGM going to be held on 26th Kartik, 2077.
Jyoti Life Insurance Company Limited has announced its 3rd AGM going to be held on 26th Kartik, 2077.
Gurans Life Insurance Company Limited has announced its 10th AGM going to be held on 4th Mangsir, 2077.
NLG Insurance Company Limited has announced its 14th AGM going to be held on 5th Mangsir, 2077.
Sayapatri Hydropower Limited has announced its 4th AGM going to be held on 21st Kartik, 2077.
Panchakanya Mai Hydropower Limited has posted a net loss of 40.35 million and published its 4th quarter company
analysis of the fiscal year 2076/77.
Greenlife Hydropower Limited has announced its 10th and 11th AGM going to be held on 28th Kartik, 2077.
Oriental Hotels Limited has announced its 23rd AGM going to be held on 4th Mangsir, 2077.
NEPSE - TECHNICAL ANALYSIS
The Nepalese stock market (NEPSE) has ended its three and half years of bearish trend in mid-Jan 2020 as seen from weekly
trend line perspective. The bearish trend was started in July 2016 when index was at 1881 level. Currently, Market is at resistance
level of 1667 after crossing resistance level of 1605 this week. In the review week, NEPSE opened at 1606.25 and formed a green
candle by closing at 1647.45 gaining 41.2 points during the day. The overall market gained 39.43 points as it closed at 1645.68
level on Thursday. In daily line chart, market seems to be at resistance zone. As of weekly line chart 1667 level seems to be a
resistance level. Similarly, there seems increase in turnover in the review week as the average turnover has increased to Rs.2.88
billion from Rs.1.42 million of previous week.
TECHNICAL INDICATORS
Indicators Value Signal
Support (S1) 1605 -
Resistance (R1) 1667 -
Relative Strength Index (RSI) 74.36 Overbought Zone
Moving Average Convergence Divergence (MACD) 23.54 Bullish
5-Day Exponential Moving Average (EMA) 1616.14 Bullish
20-Day Exponential Moving Average (EMA) 1583.71 Bullish
180-Day Exponential Moving Average (EMA) 1445.49 Bullish
Relative Strength Index (RSI) Analysis
RSI is a moment indicator that measures the magnitude of recent price changes to evaluate overbought or oversold conditions
in the price of a stock. RSI is typically used on a 14-day time frame, measured on a scale from 0 to 100, where a value above 70
represents overbought and below 30 represents oversold condition.
Current RSI value of NEPSE is 74.36 which indicates that the market is at overbought zone. There is no any formation of divergence
in daily chat.
Bollinger Band
Bollinger band is a technical indicator that consists of a set of lines plotted two standard deviations up and below a 21-day simple
moving average. The bands are an indication of volatility; a widening gap indicates higher volatility and vice-versa. Prices are
relatively high when above the upper band and low when below the lower band.
The upper, middle and the lower bands are at 1635.29, 1583.71 and 1532.12 respectively. The market is trading above upper
band which indicates market is at overbought zone.
Stock Analysis: Citizens Bank International Ltd.
Established on April 20, 2007 (2064/01/07) as 20th commercial bank of the nation, “Citizens Bank International Limited”,
has its corporate office at the heart of the financial sector of the country, Narayanhiti Path, Kathmandu. It is promoted by
eminent personalities, business and industrial houses and reputed individuals having high social standing and has been
managed by a team of experienced bankers and professionals. There are 111 branches and 99 ATMs all over the country.
Board of Directors
Name Designation
Mr. Rajan Singh Bhandari Chairman
Mr. Prakash Chandra Mainali Public Director
Mr. Bijay Dhoj Karki Public Director
Ms. Seeta Karki K.C. Public Director
Mr. Prabal Jung Pandey Director
Mr. Sajan Sharma Director
Mr. Sudesh Khaling Professional Director
Chief Executive Officer: Mr. Ganesh Raj Pokharel
Capital Structure (Asar end 2076)
Authorized Capital (Rs.) 10,000,000,000.00
Issued Capital (Rs.) 8,371,064,773.00
Paid Up Capital (Rs.) 8,371,064,773.00
Share Ownership Details (Asar end 2076)
S.N. Particulars Amount (Rs.) Ownership (%)
1 Domestic Ownership 8,371,064,673.00 100.00%
1.1 Nepal Government - -
1.2 “A” Class Licensed Institutions - -
1.3 Other Licensed Institutions - -
1.4 Other Institutions 444,130,963.00 5.31%
1.5 Public 4,101,818,773.00 49.00%
1.6 Other 3,825,114,937.00 45.69%
2 Foreign Ownership - -
Total 8,371,064,673.00 100.00%
Major Shareholders
Shareholder Shareholding (Rs.) Ownership (%)
Citizen Investment 376,195,700 4.49%
Ms. Urmila Pandey 373,608,500 4.46%
Mr. Janak Bista 333,616,923 3.99%
Mr. Bijendra Joshi 180,519,000 2.16%
Mr. Manohar Das Mool 154,992,800 1.85%
51%49%
Ownership
Promoter General Public
Financial Analysis
Particulars Yearly Analysis
2072/73 2073/74 2074/75 2075/76 2076/77* CAGR (%)
Share Capital (Rs.000) 4,401,315 8,029,160 8,033,236 8,371,065 9,089,817 19.88%
Reserves & Surplus (Rs.000) 911,820 1,363,332 2,980,675 4,123,562 4,278,408 47.18%
Total Equity (Rs.000) 5,313,136 9,392,492 11,013,911 12,494,627 13,368,226 25.94%
Deposit Liabilities (Rs.000) 47,392,945 52,702,876 60,696,027 70,509,085 88,516,228 16.90%
Loans & Advances (Rs.000) 39,635,465 47,079,214 55,601,767 64,493,870 80,703,920 19.45%
Investment (Rs.000) 7,529,424 8,480,278 6,039,557 11,230,306 12,216,153 12.86%
Total Assets (Rs.000) 55,118,345 66,114,839 77,709,953 90,121,364 110,464,483 18.98%
Interest Income (Rs.000) 3,445,229 4,924,312 7,109,388 8,532,284 9,486,240 28.82%
Net Interest Income (Rs.000) 1,621,546 1,758,036 2,222,068 2,688,462 2,881,690 15.46%
Total Operating Income (Rs.000)
2,154,598 2,438,872 3,032,887 3,497,430 3,768,558 15.00%
Personnel Expenses (Rs.000) 296,696 445,361 784,058 900,244 928,372 33.00%
Other Expenses (Rs.000) 766,135 914,235 1,014,725 1,133,967 1,724,145 22.48%
Net Profit (Rs.000) 1,091,766 1,079,276 1,234,104 1,463,219 1,116,040 0.55%
Total Staff number 652 684 844 955 - -
No. of Branches 56 60 78 81 111 -
No. of ATM 49 57 70 78 99 -
Based on the above table, Citizens Bank International Ltd. (CZBIL) has reported healthy growth in its major financials in the review
period from fiscal year 2072/73 to 2076/77. As of fourth quarter report of 2076-77, its Share Capital stands at Rs.9.08 billion.
Company has reported significant growth in Reserve & Surplus from Rs.911.82 million to Rs.4.27 billion with Compounded Annual
Growth (CAGR) of 47.18% in the review period. Growth in Share Capital and Reserve & Surplus has let Total Equity to grow with
25.94% CAGR to Rs.13.36 billion. Similarly, company’s business size has also grown substantially in the review period. Deposit
collection has increased from Rs.47.39 billion to Rs.88.51 billion with 16.9% CAGR which have let Loans & Advances to grow with
19.45% CAGR to Rs.80.7 billion in 2076/77. Bank has reported increase in Asset size to Rs.110.46 billion with 18.98% CAGR.
Similarly, Bank was able to collect Rs.9.48 billion Interest Income in 2076/77 which is 11% higher than that of 2075/76. Net Interest
has also increased to Rs.2.88 billion with 7% growth as compared to the previous fiscal year. CAGR of Interest income and Net
Interest Income was 28.82% and 15.46% respectively in the review period. With the expansion of business, its Expenses has also
increased significantly. Personnel Expenses has increased to Rs.928.37 million in 2076/77. Other Expenses has increased with 52%
as compared to 2075/76 due to increase in Provisioning which have let Net Profit to decline by 24%. However, Net Profit has
increased with 0.55% CAGR to Rs.1.11 billion in the review period from 2072/73 to 2076/77.
Dividend Notice
Citizens Bank International Ltd. (CZBIL) has proposed 11% Dividend (7.7% Bonus and 3.3% Cash Dividend) from the profit of fiscal
year 2076/77.
Profitability
Particulars Yearly Analysis
2072/73 2073/74 2074/75 2075/76 2076/77* CAGR (%)
Earnings Per Share (Rs.) 35.25 20.27 15.37 17.49 12.92 -22.19%
Dividend Per Share (including Bonus) (%) 25.78% 17.00% 5.26% 15.00% 11.00% -19.18%
Cash Dividend (Rs.) 1.29% 1.00% 1.64% 12.00% 3.30% 26.47%
Book Value Per share (Rs.) 121.00 136.00 137.00 149.26 147.07 5.00%
Market Price Per Share (Rs.) 680 403 236 224 188 -27.49%
Price to Earnings ratio 19.29 19.88 15.35 12.81 14.55 -6.81%
Price to Book ratio 5.62 2.96 1.72 1.50 1.28 -30.94%
Dividend Yield (%) 3.79% 6.40% 10.92% 11.51% 13.71% 37.91%
Dividend Payout Ratio (%) 73.13% 83.87% 34.22% 85.76% 85.14% 3.87%
Return on Assets (%) 1.98% 1.63% 1.59% 1.62% 1.01% -15.49%
Return on Equity (%) 20.55% 11.49% 11.20% 11.71% 8.35% -20.16%
Gross Profit Margin (%) 47.07% 35.70% 31.26% 31.51% 30.38% -10.37%
Net Interest Income to Total Operating Income (%) 75.26% 72.08% 73.27% 76.87% 76.47% 0.40%
Personnel Expenses to Total Operating Income (%) 13.77% 18.26% 25.85% 25.74% 24.63% 15.65%
Net Profit Ratio (%) 31.69% 21.92% 17.36% 17.15% 11.76% -21.94%
As of 2076/77, CZBIL has reported EPS of Rs.12.92. Regardless of increase in Net Profit its EPS has declined from Rs.35.25 to
Rs.12.92, due to increase in Shares Outstanding in the review period. Decline in EPS has resulted decline in Dividend distribution.
However, company has made its fundamentals stronger as Book Value has increased from Rs.121 to Rs.147.07 in the review
period. Gross Profit Margin has declined from 47.07% to 30.38% which indicated increase in Cost of Fund for the company. As of
2076/77 Net Interest Income has 76.47% ownership in Total Operating Income. Similarly, Net Profit Ratio has decreased from
31.69% to 11.76% where ratio above 20% indicates moderate position for profitability of the company.
Regulatory Requirements
Particulars Yearly Analysis
2072/73 2073/74 2074/75 2075/76 2076/77*
Capital Adequacy (On Risk Weighted Assets)
Core Capital 10.57% 15.37% 12.76% 13.46% -
Total Capital Fund 12.40% 16.88% 13.84% 14.37% 15.56%
CCD Ratio 77.63% 78.63% 77.87% 76.79% 70.76%
Base Rate 6.06% 11.17% 11.78% 10.52% 9.04%
Non-Performing Loan(NPL) to Total Loan 1.31% 2.02% 1.25% 1.13% 1.46%
As a Class-A licensed financial institution from Nepal Rastra Bank, it is supposed to have Paid-up Capital of Rs.8 billion. CZBIL has
already maintained its Paid-up Capital above the regulatory requirement. As of 2076/77 CCD ratio stands at 70.76% which
indicates excess liquidity in the bank. Non-Performing Loan to Total Loan has increased to 1.46% which have resulted higher
provisioning from its earnings. Similarly, in terms of maintaining Capital Adequacy Ratio (CAR), company has able to maintain
Capital Adequacy in both Core Capital & Total Capital Fund as directed by Nepal Rastra Bank.
Financial Highlights
4,401.32
8,029.16 8,033.24 8,371.06 9,089.82
911.82 1,363.33
2,980.68 4,123.56 4,278.41
-
2,000.00
4,000.00
6,000.00
8,000.00
10,000.00
2072/73 2073/74 2074/75 2075/76 2076/77*
Share Capital and Reserve & Surplus
Share Capital (Rs.million) Reserves & Surplus (Rs.million)
5,313.14 9,392.49 11,013.91 12,494.63 13,368.23
55,118.34 66,114.84
77,709.95 90,121.36
110,464.48
-
20,000.00
40,000.00
60,000.00
80,000.00
100,000.00
120,000.00
2072/73 2073/74 2074/75 2075/76 2076/77*
Asset vs Equity
Total Equity (Rs.million) Total Assets (Rs.million)
47,392.95 52,702.88
60,696.03 70,509.08
88,516.23
39,635.47 47,079.21
55,601.77 64,493.87
80,703.92
-
20,000.00
40,000.00
60,000.00
80,000.00
100,000.00
2072/73 2073/74 2074/75 2075/76 2076/77*
Deposits and Loans
Deposit Liabilities (Rs.million) Loans & Advances (Rs.million)
3,445.23 4,924.31
7,109.39 8,532.28
9,486.24
1,621.55 1,758.04 2,222.07
2,688.46 2,881.69
-
2,000.00
4,000.00
6,000.00
8,000.00
10,000.00
2072/73 2073/74 2074/75 2075/76 2076/77*
Interest Income vs Net Interest Income
Interest Income (Rs.million)
Net Interest Income (Rs.million)
1,091.77 1,079.28 1,234.10
1,463.22
1,116.04
35.25 20.27 15.37 17.4912.92
-
500.00
1,000.00
1,500.00
2,000.00
2072/73 2073/74 2074/75 2075/76 2076/77*
Net Profit vs EPS
Net Profit (Rs.million) Earnings Per Share (Rs.)
296.70
445.36
784.06 900.24
652 684844
955
-
200.00
400.00
600.00
800.00
1,000.00
1,200.00
2072/73 2073/74 2074/75 2075/76
Personnel Expenses vs No. of staffs
Personnel Expenses (Rs.million) Total Staff number
25.78%17.00%
5.26%15.00%
11.00%
73.13%
83.87%
34.22%
85.76% 85.14%
0.00%
20.00%
40.00%
60.00%
80.00%
100.00%
2 0 7 2 / 7 3 2 0 7 3 / 7 4 2 0 7 4 / 7 5 2 0 7 5 / 7 6 2 0 7 6 / 7 7 *
Dividend Per Share(including Bonus) (%)
Dividend Payout Ratio (%)
121.00
136.00137.00
149.26 147.07
0.00
20.00
40.00
60.00
80.00
100.00
120.00
140.00
160.00
2072/73 2073/74 2074/75 2075/76 2076/77*
Book Value Per share (Rs.)
Quarter to Quarter Comparison
Particulars Quarterly Analysis
2076/77, Q1 2077/78, Q1 Growth (%)
Share Capital (Rs.000) 9,089,817.29 9,089,817.29 0.00%
Reserves & Surplus (Rs.000) 4,327,902.94 4,853,845.82 12.15%
Total Equity (Rs.000) 13,417,720.23 13,943,663.11 3.92%
Deposit Liabilities (Rs.000) 88,496,228.46 97,940,621.56 10.67%
Loans & Advances (Rs.000) 80,510,498.79 84,385,193.42 4.81%
Investment (Rs.000) 12,210,021.05 15,484,938.88 26.82%
Total Assets (Rs.000) 110,550,682.72 119,079,792.84 7.72%
Interest Income (Rs.000) 2,353,414.55 2,580,333.42 9.64%
Net Interest Income (Rs.000) 708,325.12 839,172.52 18.47%
Total Operating Income (Rs.000) 936,926.81 1,182,412.52 26.20%
Personnel Expenses (Rs.000) 248,621.39 289,335.67 16.38%
Other Expenses (Rs.000) 339,136.03 377,485.52 11.31%
Net Profit (Rs.000) 349,169.39 515,591.33 47.66%
Earnings Per Share (Rs.) 15.37 22.69 47.66%
Book Value Per share (Rs.) 147.61 153.40 3.92%
Market Price Per Share (Rs.) 194 215 10.82%
Price to Earnings ratio 12.63 9.48 -24.95%
Price to Book ratio 1.31 1.40 6.64%
Gross Profit Margin (%) 30.10% 32.52% 8.05%
Net Interest Income to Total Operating Income (%) 75.60% 70.97% -6.12%
Personnel Expenses to Total Operating Income (%) 26.54% 24.47% -7.79%
Net Profit Ratio (%) 14.84% 19.98% 34.68%
Capital fund to RWA 12.66% 14.38% 13.59%
CD Ratio 78.41% 73.50% -6.26%
Base Rate 10.75% 8.81% -18.05%
Non-Performing Loan(NPL) to Total Loan 0.98% 1.43% 45.92%
Concluding Remarks
Citizens Bank International Ltd. (CZBIL) is a commercial bank operating in all 7 provinces, providing financial services from 119
branches with more than 950 staffs. Operating with a mission to be a trustworthy partner for the progress of individuals and
institutions by designing, producing and delivering the best financial solutions, Bank has grown substantially in the review period
from 2072/73 to 2076/77. However, the company is operating below the industry average in terms of its major operations which
indicates the lack of competitive advantage in the banking industry. Institutionalized by a highly professional and experienced
team, most of the fundamental indicators of the company are growing and has potential to grow further in the Nepalese emerging
market where significant portion of the population don’t have access to the financial system. In overall, company seems to be in
a stable position and can become one of the catalyst for the economic development of the country.
The following table shows the total dividend proposed by companies from the profit of 2076/77
S.N. Symbol Company Dividend (%) Total Dividend
(%) Bonus Cash
1 SEF Siddhartha Equity Fund 0.00 7.50 7.50
2 SIGS2 Siddhartha Investment Growth Scheme-2 0.00 5.00 5.00
3 NIBSF1 NIBL Samriddhi Fund 1 0.00 12.00 12.00
4 NIBLSF NIBL Sahabhagita Fund 0.00 8.25 8.25
5 NICGF NIC Asia Growth Fund 0.00 12.00 12.00
6 NICBF NIC ASIA Balanced Fund 0.00 8.00 8.00
7 NICACL NIC Asia Capital Limited 0.00 18.00 18.00
8 KCL Kumari Capital Limited 0.00 4.00 4.00
9 SMATA Samata Laghubitta Bittiya Sanstha Limited 20.00 6.32 26.32
10 FMDBL First Microfinance Laghubitta Bittiya Sanstha Limited 9.50 4.18 13.68
11 NBF2 Nabil Balanced Fund - 2 0.00 9.00 9.00
12 NEF Nabil Equity Fund 0.00 6.00 6.00
13 LEMF Laxmi Equity Fund 0.00 4.25 4.25
14 GIMES1 Global IME Samunnat Scheme 1 0.00 4.00 4.00
15 RMDC RMDC Laghubitta Bittiya Sanstha Limited 15.00 5.00 20.00
16 SFMF Sunrise First Mutual Fund 0.00 7.00 7.00
17 CMF2 Citizens Mutual Fund - 2 0.00 10.00 10.00
18 CMF1 Citizens Mutual Fund-1 0.00 15.00 15.00
19 ALBSL Asha Laghubitta Bittiya Sanstha Limited 15.00 0.79 15.79
20 MBL Machhapuchchhre Bank Limited 7.03 3.37 10.40
21 NMB50 NMB 50 0.00 5.00 5.00
22 NMBHF1 NMB Hybrid Fund L- 1 0.00 8.00 8.00
23 UNL Unilever Nepal Limited 0.00 100.00 100.00
24 NIBLACE NIBL Ace Capital Limited 0.00 22.22 22.22
25 GBIMEL Global IME Capital Limited 0.00 6.50 6.50
26 NLO Nepal Lube Oil Limited 0.00 10.00 10.00
27 BOKL Bank of Kathmandu Limited 13.00 3.00 16.00
28 CCML Century Capital Market Limited 0.00 4.00 4.00
29 SAEF Sanima Equity Fund 0.00 7.00 7.00
30 RSDC RSDC Laghubitta Bittiya Sanstha Limited 9.00 3.63 12.63
31 CARE Care Ratings Nepal Limited 0.00 21.05 21.05
32 SANIMA Sanima Bank Limited 10.00 3.60 13.60
33 SHIVM Shivam Cements Limited 0.00 24.21 24.21
34 SANCAP Sanima Capital Limited 0.00 8.50 8.50
35 CZBIL Citizens Bank International Limited 7.70 3.30 11.00
36 NICA NIC Asia Bank Limited 19.00 1.00 20.00
37 NABILINV Nabil Investment Banking Limited 0.00 20.00 20.00
38 KBL Kumari Bank Limited 10.00 4.00 14.00
39 GBIME Global IME Bank Limited 14.00 2.00 16.00
40 SCB Standard Chartered Bank Nepal Limited 7.00 4.84 11.84
Growing our hard-earned money should be simple and accessible to everybody, so that each of us is able to live the life we
desire. With this objective, we ensure we gain an in-depth understanding of each individual’s aspirations and ambitions so
that we are able to recommend the right investment solution. We encourage people to link their investments to specific life
goals so that they are able to realize these goals meticulously and with ease.
Portfolio Management Services
Tailor made solutions to meet your investing needs
Across the world people are turning to specialists Portfolio Management Services for managing their equity investments.
Portfolio Management Services is the Portfolio Management division of Aakash Capital that helps you access the equity
market in Nepal.
Portfolio Management Service brings you a whole range of investment products,
from which your portfolio manager puts together your optimal portfolio. We take
into account your financial goals, time horizon, risk appetite and investment
outlook.
Choose a solution that fits your needs
Disclaimer and important information: This document has been prepared by Aakash Capital Limited for information and
illustration purpose only. The information provided in this document is subject to change. While this information has been
obtained from sources believed to be reliable, Aakash Capital Limited is not liable for erroneous information obtained from the
sources. Aakash Capital Limited, its directors and employees are not liable/responsible for any direct, indirect or consequential
loss arising from use of this document or its contents. Past performance is no indication of future results. Aakash Capital is
regulated by Securities Board of Nepal. This document may not be reproduced, distributed or published by any person for any
purpose without Aakash Capital Limited’s prior written consent.
Aakash Capital Limited
4th Floor, Trade Tower, Thapathali, Kathmandu, Nepal
Tel: 01-5111145
Email: [email protected]
Website: www.aakashcapital.com.np
Facebook: www.facebook.com/AakashCap
