11.5 Percent Stocks Hovering Around 52-Week High; 5.7% Scrips Near 52-Week Low
Tue, Jun 27, 2023 8:52 AM on Featured, Stock Market,
The grim outlook in the Nepal Stock Exchange (NEPSE) is slowly changing colors, with it gaining for three consecutive days.
From Friday to Monday, in three trading days, the market has gained momentum by climbing by 78.35 points to stand at 2,129.42 from 2,050.78.
Mostly, the increase consequent to positive sentiment can be attributed to improved liquidity in BFIs and Credit to Deposit (CD) Ratio, which stands at 84.01 percent. In the same manner, the Nepal Banker's Association (NBA) anticipates that by the end of Ashad, the spread rate will be reduced to 4 percent, resulting in a decrease in loan interest rates and deposit interest as well. This further puts the market's immediate future in good standing as investors will have access to loans at reduced rates while scavenging for alternative investment opportunities, which can potentially be channeled into the market.
In this article, we look to analyze the top 10 stocks that have become the favorites of investors and are hovering around a 52-week high, while also highlighting scrips that are at the reverse end of the spectrum.
Asian Life Insurance Company Limited (ALICL) with an LTP of Rs. 732.00 as of writing and a 52-week high of Rs. 760 makes its way to the top of the table, followed by BPW Laghubitta Bittiya Sanstha Limited (BPW), which was last traded at Rs. 1062. BPW has called its 4th AGM on Ashad 26 to endorse merger-related process with Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL). BPW had recently issued its IPO and was subsequently listed in NEPSE.
Two hydropower companies, including once-considered blue-chip company Chilime Hydropower Company Limited (CHCL) and CEDB Hydropower Development Company Limited (CHDC), have a last traded price (LTP) of Rs. 573 and Rs. 919.90, respectively, and occupy the 3rd and 4th positions on the table. The former's one-year high is at Rs. 594.00, while the latter's is at Rs. 929.00.
At no.5, the recently IPO-issued and subsequently listed City Hotel Limited (CITY) is trading at Rs. 347.80, while the only commercial bank in the top-10 list, Everest Bank Limited (EBL), was last traded at Rs. 581.90, which has a recorded 52-week high of Rs. 596.70.
At no.7 and no.8, Himalayan Everest Insurance Limited (HEI), which is an merged company formed after the merger of Himalayan General Insurance (HGI) and Everest Insurance (EIC), followed by Himalayan Everest Insurance Limited Promoter (HEIP), which is not freely tradable, stand with an LTP of Rs. 597.40 and Rs. 620.00, respectively.
The last two positions on the top 10 table of the stocks trading around a 52-week high have been occupied by two companies in the insurance sector as well, including Himalayan Life Insurance Limited (HLI), which was recently listed in NEPSE following successful merger between Gurans Life Insurance Company Ltd. (GLICL), Prime Life Insurance Company Limited (PLIC), and Union Life Insurance Company Limited (ULI), and IGI Prudential Insurance Limited (IGI), which was recently listed in NEPSE after merger between IME General Insurance Limited (IGI) and Prudential Insurance Company Limited (PICL).
Note: Six companies in the top 10 table of scrips hovering around 52-week high, consequent to specified circumstances, including BPW, CITY, HEI, HEIP, HLI and IGI have not completed their 52 weeks of transaction in NEPSE.
HLI has a LTP of Rs. 461.10 compared to its 52-week high, while IGI was last exchanged hands at Rs. 587.00, which is only Rs. 26 less than its one-year high.
In the top 10 list of shares hovering around their respective 52-week high, five scrips (50%) are from the Life Insurance sector, which indicates the inclination of investors in the companies of the sector.
On the other hand, in the top-10 table of scrips trading at around a 52-week low, all companies are Banks and Financial Institutions, nine of which are commercial banks, while NESDO at 9 is the odd one out.
Agricultural Development Bank (ADBL) with an LTP of Rs. 229.90 and Citizens Bank International Limited (CZBIL), which was last traded at Rs. 172.90, occupy the first and second positions on the table.
Similarly, Global IME Bank Limited, which recently acquired the Bank of Kathmadu (BOKL), made the last trade at Rs. 182.00, while Himalayan Bank Limited, which has a 52-week low of Rs. 209.00, was last traded at Rs. 211.00, are at no. 3 and 4, respectively.
Nabil Bank (NABIL) is at no. 7, which last exchanged hands at Rs. 586.00, which has a 52-week low of Rs. 575.60, followed by Nepal Bank Limited (NBL) at no. 8, which has an LTP only Rs. 6 more than its 52-week low at Rs. 251.00.
The odd one out on this table, considering the sector of the companies, is placed at no. 9 with NESDO Sambridha Laghubitta Bittiya Sanstha Limited (NESDO), which made a transaction at Rs. 1,952.00.
At no. 10, the merged entity formed after the merger of Nepal Investment Bank and Mega Bank, extending joint services under the combined name Nepal Investment Mega Bank Limited (NIMB), stands with an LTP of only Rs. 175.50, concurrent with its one-year low as well.
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