Siddhartha Insurance issuing rights shares at 10:9 ratio

Siddhartha Insurance Limited is issuing 11 lakh units of rights shares at 10:9 ratio from December 1.

The rights share issue will close on January 5 next year, according to the insurance company.

NEPSE suffers lossof 1.65 points closing at 541.7

NEPSE fails to sustain its gaining streak as it suffered a loss of 1.65 points today.  Following the consecutive two days of rally in the secondary market of Nepal, the investors today rushed to book their profit, building high selling pressure in the process.

NLG, Siddhartha, Lumbini & Himalayan General Insurance profits 14.37cr, 5.82cr, 4.13cr & 71.3cr

NLG Insurance has posted a 12.90% rise in profit for FY 2069/70 as net income grew to Rs 14,37,12,000 from Rs 12,72,90,000. The company has raised its paid up to Rs 27,00,00,000 from Rs 15,75,00,000 reported in the previous fiscal.

Siddhartha Insurance profit rose 45.21% over last fiscal’s 40.09 million to reach Rs 58.22 million in the FY 2069/70. The company has increased its paid up to Rs 13.20 crore from Rs 10.00 crore shown for the last fiscal. The company’s EPS stands at Rs 44.11 and net worth at Rs 182.06.

Insurance companies with low paid up to seek merger

Insurance Board has exerted pressure on insurance companies that have failed to increase their paid up capital to the required level to seek merger.The board had issued a directive three years ago asking life insurance companies to maintain a paid up capital of Rs 50 crore and general insurance companies to Rs 25 crore by the end of FY 2069/70.

Nepse index settled at 529.07 levels

The see-saw movement continues to deter the market from any progress beyond the level of 530.

After advancing to the four months high to 535.72 levels on 21st July, 2013, the volatility in the market have come down a notch.

The benchmark index post four months’ high has been moving sideways within the 2 to 3 point range.