Rastriya Beema Company (RBCL) Snatches Crown from Unilever Nepal Limited (UNL) As Priciest Stock in NEPSE
Fri, May 28, 2021 1:47 PM on Stock Market, Latest,
Rastriya Beema Company Limited (RBCL) closed at the LTP of Rs. 23,200 last Thursday. This is one of the highest closings of this scrip in the history of NEPSE for any stock. A huge majority of company stocks have never reached this level.
Furthermore, this price level is also a significant achievement for RBCL itself. The last time the stock fared this high was on 20th April 2017, when it closed at Rs 21600.
RBCL witnessed the highest ever units traded in one single trading day on 25th May 2021. 7896 unit shares of the company exchanged hands that day. With this, RBCL has surpassed Unilever Nepal Limited (UNL) which had long taken the crown for being the most expensive stock in NEPSE. Because of their high price per share, retail investors do not dare to trade these stocks, and they are treated as untouchable holy grails by a vast majority.
However, it should be noted that RBCL's paid-up capital is only Rs 26.66 crores. This is one of the lowest paid-up capital figures in the non-life insurance sector. There are a total of 18 listed companies from this sector in NEPSE. The company has not conducted its AGM since FY 2068/69.
The total promoter: public shareholding ratio stands at 80.46: 19.54. Major promoters are Nepal Government, Citizen Investment Trust, and Nepal Bank Limited with a shareholding of 47.50%, 22%, and 10.96% respectively.
The total ordinary tradable shares of RBCL are 5,21,012 units. This includes the company's tradable promoter shares as well.
RBCL falls short 277% to meet the minimum paid-up capital of Rs 1 Arba mandated by the insurance board of Nepal. Out of numerous long-term investments, RBCL's major investment companies are Nabil Bank with 9.67% shareholding i.e. 1.30 crore units, Nepal Investment Bank Limited with 12.15% ownership, i.e., 1.95 crore units, 3% ownership of NRIC i.e., 27.69 lakh units, etc.
As of the Q3 report of FY 77/78, RBCL has a book value of a mere Rs 2,158 per share.
