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The NEPSE Journal

Insights & Analysis

Market commentary, data deep-dives, and trading notes from the NEPSE Trading desk.

NEPSE3 min read

What is the New Benchmark? Unveiling the True Face of the Nepal Stock Exchange

How the massive gap between the government's rushed deadline and the Board's 24-month technical timeline will be bridged remains to be seen. Nevertheless, SEBON’s initiative—which is currently seeking stakeholder feedback—marks a historic step toward making the capital market transparent and globally aligned. Once implemented, it will finally reveal the true, investable face of the Nepali stock market, ultimately safeguarding the interests of the general investors.

Dipesh Ghimire25 Oct, 2026

All Articles

2888 posts

Banking Sector2 min read
Commercial Banks Register 7.32pc Profit Growth in First Two Months; Nabil Dominates as Himalayan Sees Highest Surge
Meanwhile, some legacy institutions managed to eke out only marginal upward momentum. Global IME Bank grew its net profit by a modest 4 percent. Even tighter margins were observed for Nepal Investment Mega Bank (0.91 percent), NIC Asia Bank (0.79 percent), and NMB Bank, which barely scraped into the positive territory with a microscopic 0.13 percent growth.
Dipesh Ghimire15 Oct, 2026
Hydropower2 min read
Ending State Monopoly: Govt Sets Stage for Private Sector Power Trade Amid Sweeping Energy Reforms
Addressing this domestic infrastructure deficit, the government has reported substantial headway in unbottlenecking the national grid. The critical Hetauda segment of the Hetauda-Dhalkebar-Inaruwa 400 kV transmission line is nearing completion, while the Bahrabise-Lapsiphedi 400 kV line has been successfully concluded. Additionally, the newly constructed Bahrabise and New Khimti substations have been brought into partial operation. The ministry has also charged the Markichok-Bharatpur (220 kV), Dhalkebar-Balganga (132 kV), and Lalbandi-Salempur (132 kV) lines, with an ambitious target to complete 12 more transmission projects within the current fiscal year. Providing a lifeline to developers, the ministry also extended the RCOD for 27 hydropower projects, which are in their final stages of construction and hold a combined capacity of 540.47 MW.
Dipesh Ghimire15 Oct, 2026
IMF3 min read
Sovereign Debt Crisis Looms as Global Borrowing Nears 100 Percent of GDP, IMF Warns
However, Georgieva made it clear that this localized tech-driven growth cannot mask systemic structural flaws. To stabilize the global economy, the IMF chief outlined a macro-rebalancing strategy: China must stimulate its domestic consumption, the United States must increase its savings rate to cool its debt dependency, and Europe must aggressively expand capital investment. Ultimately, the IMF’s message is unequivocal—controlling debt is no longer just an accounting exercise; it is an urgent strategic imperative necessary to ensure governments can survive the next inevitable global crisis.
Dipesh Ghimire15 Oct, 2026
Nepal’s Economy 2 min read
Credit Flows Surge as Interest Rates Tumble, But Productive Sectors Left Wanting
Ultimately, the data underscores a critical narrative for policymakers: while lowering interest rates successfully triggers credit growth, the headline numbers mask the ground reality. Without targeted policy interventions and strict regulatory oversight, the banking sector's capital naturally flows toward quick-turnover trade and consumption, rather than the sustainable, employment-generating industries the Nepali economy desperately needs.
Dipesh Ghimire15 Oct, 2026
Floods2 min read
Govt Proposes Rs 559 Billion Mega-Reconstruction Masterplan Following Devastating Monsoonal Floods
Recognizing the dangerous failure of communication channels during the disaster, the Ministry of Information and Communication has proposed over Rs 870 million to establish resilient mobile BTS towers, satellite backup systems, and internet continuity plans. Furthermore, security apparatuses—the primary first responders during such calamities—are seeking capacity upgrades. The Armed Police Force (APF) has requested over Rs 1.64 billion, heavily focused on procuring specialized search and rescue equipment for future preparedness, while Nepal Police requires Rs 18.2 million for immediate physical infrastructure repairs.
Dipesh Ghimire15 Oct, 2026
NEPSE2 min read
Margin Lending Surges Past Rs 167 Billion, But NEPSE Fails to Reflect the Credit Boom
Furthermore, this trend highlights the heavy capitalization of the market. The continuous influx of new share supply—driven by a relentless stream of IPOs, right shares, and bonus distributions—has heavily diluted the impact of the newly injected cash. Ultimately, the data suggests that while the financial fuel required for a market rally is already circulating in the system, the sheer volume of share supply is currently absorbing the Rs 167 billion credit shock, keeping the NEPSE index subdued for the time being.
Dipesh Ghimire15 Oct, 2026
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SEBON2 min read
IPO Pipeline Swells to Rs 71.42 Billion as Manufacturing Sector Leads Capital Mobilization
While the sheer volume of a Rs 71.42 billion pipeline highlights strong corporate appetite for equity financing, it does not imply an immediate liquidity drain on the financial system. An application at SEBON is merely the first step in a stringent regulatory funnel. The board conducts rigorous evaluations of each company's financial disclosures, credit ratings, corporate governance, and statutory compliance before granting the final issuance permit. Consequently, this massive capital demand will not flood the market simultaneously but will be systematically staggered over several months or years. Ultimately, the growing presence of manufacturing and hospitality firms in the IPO pipeline is a highly positive indicator for the Nepal Stock Exchange (NEPSE), promising a more diversified and resilient secondary market that accurately reflects the broader national economy.
Dipesh Ghimire14 Oct, 2026
Bindhyabasini Hydropower De2 min read
Bindhyabasini Hydropower Calls 10th AGM for Kartik 18; Proposes 5% Bonus and 1:1 Right Shares
The secondary agendas—specifically the proposal to issue debentures convertible into ordinary shares and the formal ratification of previous debt and corporate guarantees—indicate that the company is actively rebalancing its capital structure. For capital-intensive hydropower developers, transitioning from high-interest bank debt to equity-based or convertible debt financing lowers debt-servicing burdens, improves the debt-to-equity ratio, and enhances long-term solvency. This capital injection will bolster the company's balance sheet, providing financial flexibility to manage ongoing operations or finance potential capacity expansion.
Dipesh Ghimire14 Oct, 2026
Peoples Energy2 min read
Peoples Energy Proposes 20% IPO and Capital Expansion; Calls 10th AGM
The specific AGM agenda seeking to ratify past loans, corporate guarantees, and investment decisions strongly indicates that the company has relied on substantial bank financing to bankroll its large-scale infrastructure developments. The injection of fresh equity through the IPO will serve a critical dual purpose: it will help alleviate the severe burden of high-interest bank debt and fortify the company’s balance sheet. A healthier debt-to-equity ratio will make it much easier for the company to mobilize future funding. Ultimately, this public transition is expected to enforce stricter corporate transparency, strengthen institutional governance, and offer the general public a fresh, viable avenue for investment in the country's vital energy infrastructure.
Dipesh Ghimire14 Oct, 2026

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Insights & Analysis

What is the New Benchmark? Unveiling the True Face of the Nepal Stock Exchange

All Articles

Commercial Banks Register 7.32pc Profit Growth in First Two Months; Nabil Dominates as Himalayan Sees Highest Surge

Ending State Monopoly: Govt Sets Stage for Private Sector Power Trade Amid Sweeping Energy Reforms

Sovereign Debt Crisis Looms as Global Borrowing Nears 100 Percent of GDP, IMF Warns

Credit Flows Surge as Interest Rates Tumble, But Productive Sectors Left Wanting

Govt Proposes Rs 559 Billion Mega-Reconstruction Masterplan Following Devastating Monsoonal Floods

Margin Lending Surges Past Rs 167 Billion, But NEPSE Fails to Reflect the Credit Boom

IPO Pipeline Swells to Rs 71.42 Billion as Manufacturing Sector Leads Capital Mobilization

Bindhyabasini Hydropower Calls 10th AGM for Kartik 18; Proposes 5% Bonus and 1:1 Right Shares

Peoples Energy Proposes 20% IPO and Capital Expansion; Calls 10th AGM

NEPSEtrading

Primary issues

Income & debt

Live market

Read & learn

NEPSE Trading Network

Insights & Analysis

What is the New Benchmark? Unveiling the True Face of the Nepal Stock Exchange

All Articles

Commercial Banks Register 7.32pc Profit Growth in First Two Months; Nabil Dominates as Himalayan Sees Highest Surge

Ending State Monopoly: Govt Sets Stage for Private Sector Power Trade Amid Sweeping Energy Reforms

Sovereign Debt Crisis Looms as Global Borrowing Nears 100 Percent of GDP, IMF Warns

Credit Flows Surge as Interest Rates Tumble, But Productive Sectors Left Wanting

Govt Proposes Rs 559 Billion Mega-Reconstruction Masterplan Following Devastating Monsoonal Floods

Margin Lending Surges Past Rs 167 Billion, But NEPSE Fails to Reflect the Credit Boom

IPO Pipeline Swells to Rs 71.42 Billion as Manufacturing Sector Leads Capital Mobilization

Bindhyabasini Hydropower Calls 10th AGM for Kartik 18; Proposes 5% Bonus and 1:1 Right Shares

Peoples Energy Proposes 20% IPO and Capital Expansion; Calls 10th AGM