RSML Hits 10% Circuit: Manufacturing Sector Surges 1.94% — March 31, 2026

Nepal's Manufacturing sector was the undisputed star of March 31, 2026's trading session. The Manufacturing sub-index surged 202.41 points (+1.94%) to 10,594.75 — the best performance among all NEPSE sector indices. The rally was led by Reliance Spinning Mills (RSML) hitting the 10% upper circuit at Rs 2,679.30, with SY Panel Nepal (SYPNL) also generating massive turnover of Rs 374.49M. This sector report covers the details behind manufacturing's outperformance.

Manufacturing Sector Overview — March 31, 2026

Metric	Value
Sub-Index Close	10,594.75
Change (Points)	+202.41
Change (%)	+1.94%
Sector Rank Today	#1 — Best Performer
vs NEPSE Composite	+1.25% outperformance
Date	March 31, 2026

RSML — Reliance Spinning Mills Hits Upper Circuit

Reliance Spinning Mills Limited (RSML) was the headline manufacturing story of March 31, 2026, hitting the 10% upper circuit at Rs 2,679.30. This represents a gain of Rs 243.30 per share from the previous close of Rs 2,436 — one of the largest absolute-rupee gains of the day on NEPSE.

RSML is one of Nepal's established textile companies, operating in yarn and fabric manufacturing. At Rs 2,679.30 per share with a 10% circuit gain, the stock is clearly attracting aggressive buying. Investors holding RSML may see continued demand in the next session if unmatched buy orders remain.

SYPNL — SY Panel Nepal's Massive Turnover

SY Panel Nepal Limited (SYPNL) generated Rs 374.49M in turnover with 199,289 shares at Rs 1,899.90 per share — making it the 4th highest turnover stock of the entire Nepal stock exchange on March 31, 2026. SYPNL's presence in the top-5 turnover list reflects growing investor interest in Nepal's nascent solar energy manufacturing industry.

Manufacturing's Role in Nepal's Economy

Nepal's manufacturing sector is evolving beyond traditional textiles and food processing. Key emerging themes include:

• Solar energy equipment: SYPNL and peers benefit from Nepal's renewable energy push and government solar incentives
• Import substitution: Nepal's manufacturing sector benefits from government policies encouraging domestic production
• Export potential: Textile manufacturers like RSML benefit from India trade and global garment demand
• Infrastructure manufacturing: Cement, steel, and building materials companies serve Nepal's infrastructure boom

Manufacturing Sector Outlook

The Manufacturing sub-index's 1.94% gain and RSML's 10% circuit are strong positive signals. Watch for follow-through in RSML and continued heavy activity in SYPNL. The 10,600 level is an immediate target for the sub-index, while a sustained hold above 10,500 would confirm the bullish momentum.

Manufacturing's 1.94% gain on March 31, 2026 to 10,594.75 is a significant positive signal. RSML's 10% circuit gain shows strong conviction buying in Nepal's textile manufacturing space. SYPNL's Rs 374.49M turnover reflects growing investor interest in Nepal's emerging solar panel manufacturing. The sector's outperformance relative to the broader NEPSE (+0.69%) may attract further rotation into manufacturing stocks in coming sessions.