Oct Thu 2020 10:51:28
100 million shares of Nepal Reinsurance Company were listed on May 11. After that, share trading started on July 30. On the first day of trading, it fell by 10 points to Rs 382 in 40 minutes.
The company had opened at Rs 424. The company's share price, which had fallen 10 percent on the first day, fell again on the second day to 344 points. The market, which has been growing steadily since then, has now reached 901 points. The company's share price has risen by Rs 477 per share in just two months.
The share price of the reinsurance company has been steadily rising for most of the subsequent days, even though it declined at the beginning of trading. The sudden rise in the company's share price has taken everyone by surprise. The company's share price had reached an average of Rs 500 a week. For about a month and a half, the company's share price remained at an average of Rs 500 to Rs 600.
After that, the company's market share price increased significantly. The share price, which was Rs 596 per share on August 22, reached Rs 624 on August 25. The company's share price has reached Rs 901 in nine days.
The company's share price has risen by Rs 277 per share in the last nine days. The reinsurance company has so far made public its financial statements for the third quarter of the fiscal year 2976/07.
According to the third quarter financial statement, profit has increased by only 2.77 percent. That is, the company's profits have increased on both life and non-life insurance. The company's fourth quarter financial statements have not been released. However, the company's share price is higher.
Currently, the market capitalization of the company has reached Rs 90.10 billion.