Investors selling shares to clear loans

ShareSansar, June 17

One of the most watched share investors of Nepal, Nirmal Pradhan has sold shares worth more than Rs 20 crore in just over a year. He sold Rs 5 crore worth of shares of Everest Bank on Sunday alone.

On June 21, 2012, Pradhan had sold Rs 8 crore worth of Everest Bank shares and later on July 4 of the same year, he sold Rs 6 crore worth of shares of the same bank.

Sources said that Pradhan has been selling off the shares to pay back the loans taken from different banks and finance companies.

On Sunday, 35,560 Everest shares were traded in 210 transactions, pushing the trade volume to Rs 5 crore 10 lakh 90 thousand.

NEPSE’s overall trade volume also shot up compared to the recent average, reaching Rs 11 crore on Sunday.

The sudden spike in the local bourse has been attributed to the pressure on the investors to clear the loans taken from banks and finance companies keeping shares as collateral.

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