FINANCIAL SERVICES PROVIDED BY KALIKA

SECURITIES PVT LTD

Submitted By:

Bibek Wagle

P.U. Reg. No: 2017-2-03-0195

Exam Roll No:18031140

Level: BBA 4th year, 7th Semester

Submitted to:

Apollo International College

Faculty of Management

Pokhara University

Submitted for the degree of

Bachelor of Business Administration (B.B.A)

New Baneshwor, Kathmandu

February, 2022

DECLARATION
I hereby declare that the internship report entitled “FINANCIAL SERVICES PROVIDED BY KALIKA
SECURITIES PRIVATE LIMITED” submitted to Apollo International College, Faculty of
Management, Pokhara University, is my original work done as per the partial fulfillment of the
requirement of the degree of Bachelor of Business Administration (BBA) under the guidance and
supervision of Mr. Ganesh Koirala.

………………….

Bibek Wagle

February 2022

ii
BONAFIDE CERTIFICATE

iii
 Internship certificate

ACKNOWLEDGEMENT
iv
It was a wonderful experience to work in kalika securities, Anamnagar Branch office as an
intern, indeed it was great opportunity for me to experience internship program, as the basic
purpose of fulfilling the partial requirement for the Degrees of Bachelors in Business
Administration (BBA) under the course designed by the faculty of management of Pokhara
University.
First of all I would like to thank Pokhara University for including internship program in our
course of BBA 7th semester. This gives us chance for gaining practical knowledge to boost our
interpersonal skills.

I express my sincere honor and special sense of gratitude to the Teacher of Apollo
International College Mr. Ganesh Koirala for his generous guidance, thoughtful
encouragement and brilliant insight throughout completing this internship report. I express my
sincere honor and special sense of gratitude to the program director of Apollo International
College Mr. Bimal Gautam and coordinator Er.Mr. Shishir Dhakal.

I am grateful to the kalika securities family, especially Narendra Sijapati C.E.O of Kalika
Securities, who has always been there for the necessary guidance and continuous support
throughout my internship duration.
Finally, I would like to thank my teachers and friends of Apollo International College who
directly and indirectly motivate and lead me for internship and also by providing a good deal of
knowledge and ideas for the existence of internship.
Bibek Wagle

BBA 7th Semester

Apollo International College

February, 2022

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 Table of Contents

Title page…………………………………………………..………………………………………….i
Declaration........................................................................................................................................ii
Bonafide Certificate..........................................................................................................................iii
Internship certificate..........................................................................................................................iv
Acknowledgement...............................................................................................................................v
Table of Contents..............................................................................................................................vi
List Of Tables And Figures.............................................................................................................viii
List Of Abbreviations........................................................................................................................ix
Chapter 1 Introductions.................................................................................................................1-15
1.1 Objectives of the internship..........................................................................................................1
1.2 Methodology................................................................................................................................2
1.2.1 Placement................................................................................................................................3
1.3 Customer Service Department......................................................................................................5
1.3.1 Trading Department................................................................................................................6
1.3.2 CNS (Clearing and Settlement) Department............................................................................6
1.3.3 Account Department................................................................................................................6
1.4 Limitations of the study................................................................................................................7
1.5 Introduction To The Brokerage Firm...........................................................................................8
1.5.1 History of brokerage firm........................................................................................................8
1.6 Introduction to Securities market................................................................................................10
1.7 History of securities market in Nepal.........................................................................................12
1.7.1 Nepal Stock Exchange (NEPSE)...........................................................................................13
1.7.2 CDS and Clearing Limited....................................................................................................15
Chapter 2 INTRODUCTION TO KALIKA SECURITIES PVT. LTD.......................................16-20
2.1 Background of the organization..................................................................................................16
2.2 Vision of Kalika Securities.........................................................................................................16
2.2.1 Mission of Kalika Securities..................................................................................................16
2.3 Objectives of Kalika Securities..................................................................................................17
2.3.1 Services offerings by kalika Securities..................................................................................17
2.4 Capital Structure of Kalika Securities........................................................................................18

vi
2.5 Service Charges of Kalika Securities..........................................................................................19
2.5.1 Various Departments of Kalika Securities...............................................................................19
CHAPTER III ANALYSIS OF ACTIVITIES DONE & PROBLEMS SOLVED …………………..21-29
3.1 Background................................................................................................................................21
3.1.1CNS (Clearing and Settlement) Department...........................................................................23
3.2 Problem Faced............................................................................................................................24
3.3 Problems Solved.........................................................................................................................25
3.4 Conclusion.................................................................................................................................26
3.4.1 Lesson learnt.........................................................................................................................27
3.5 Recommendations to the Organization.......................................................................................28
References..........................................................................................................................................x
APPENDIX I: List of Stock Brokers in Nepal...................................................................................xi

vii
 LIST OF TABLES AND FIGURES

LIST OF TABLES

TABLE NO. Page no.

Table 1 Placement in Different Departments 4

Table 2 Ownership Structure of NEPSE 13

Table 3 Capital Structure of Kalika Securities 17

Table 3 Service charge rate of stockbroker 18

LIST OF FIGURES

Figures Page no.

Figure 1 Shareholders Capital Structure of kalika Securities 17

viii
 LIST OF ABBREVIATIONS

A/C Account
BBA Bachelor in Business Administration

BO ID Beneficial Owner Identification

CDS Central Depository Services

DEMAT Dematerialization

EDIS Electronic Debit Instruction Slip

DP Depository Participant

DRF Demat Request Form

DRN Demat Request Number

ISIN International Securities Identification Number

IT Information Technology

KYC Know Your Customer

NEPSE Nepal Stock Exchange

TU Tribhuvan University

SBIS Share Broker Information System

SEBO Securities Board

ix
 Chapter 1 Introductions
An internship is a professional learning experience that offers meaningful, practical work related
to a student’s field of study or career interest. An internship gives a student the opportunity for
career exploration and development, and to learn new skills. Pokhara University has designed
various management degrees under Faculty of Management and among them one is in the form of
Bachelors of Business Administration (BBA). In order to nourish the students with the experience
of actual working environment, internship has been made as mandatory requirement for the
successful completion of the four-year Bachelors of Business Administration (BBA) under
Pokhara University. BBA is four years international standard program consisting of eight
semesters along with internship program. Thus, BBA program is a blend of theoretical and
practical knowledge on the financial sector allow the students in understanding business
environment and solving practical business problems. As internship nurtures the student with
concept of job design and job requirements, and regarded as the first step in career development.
The selection of the organization for intern should match the field of specialization and
interest. This helps the intern to easily understand the operations carried out in the organization. It
provides the intern an opportunity to understand how the knowledge acquired through the formal
classroom discussion sessions is applied in the real working conditions. For a student specializing
in finance, internship in financial institutions is the best option.
As per the course requirement of the BBA program every eighth semester student should prepare
the internship report after the completion of the two months internship in the institution. Since the
internee completed the internship in Brokerage Firm, this report is based on different situations
from the perspective of both the employees and the customers.

1.1 Objectives of the internship

The main purpose of the internship is to develop an understanding about the services provided by
Kalika Securities (P) Ltd. Besides this the internship report has been prepared for the partial
fulfilment of BBA in Pokhara University. Putting it all together, the objectives have been shown
as below:

1. To gain the knowledge on stock and stock market.

2. To know about services provided by stock broker.
3. To present the lessons learnt regarding the relationship of the theoretical knowledge
with the practical work experience gained.
4. To enhance the communication skills and public relation skill through direct
interaction with the customer.
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 5. To understand the corporate culture and social responsibilities of stockbroker in the
present context.

1.2 Methodology
Completion of internship is a combination of the different types of activities. It starts from the
selection of the organization for the internship, performance of different kinds of activities and
placement in different parts of the organization and at last collection of various primary and
secondary data for the preparation of the report.

Primary data have been collected through the means of field observation (i.e. Internship Period)
and also with the interaction with office personnel, concerned authorities. Personal interviews and
consultation with concerned staffs and customers can be taken as a source to collect primary data.

Secondary data have been collected through various published journals, annual reports,
unpublished data and official website of NEPSE (www.nepalstock.com) and website of Kalika
Securities (P) Ltd (www.kalikasecurities.com) . So, the overall study can be viewed as a blend of
descriptive explanatory as well as quantitative and qualitative study.

Organization selection
Selection of the organization tends to be the most crucial part of the internship because success in
the fulfillment of the objectives of the internship completely depends on the type of the
organization that had been selected. As per the requirements of the partial fulfilment of Bachelor
in Business Administration, the students have to select any organization for practical exposure.
After dropping the C.V along with the recommendation letter of the college, the intern was finally
called upon for internship by kalika Securities (P) Ltd (Broker no #46), Anamanagar, Kathmandu.

Kalika Securities Pvt. Ltd. was legally registered in 2053 BS by a team of professionals.
However, it officially started its services to serve Nepal’s capital market after obtaining license
from Nepal Stock Exchange Limited (NEPSE) on 2054-04-14 BS as a Stock Brokerage. After
enactment of Securities Act in 2065-02-24 BS, Kalika has successfully upgraded itself to required
criteria, and retained its license and has regularly been serving its clients ever since.

2
 1.2.1 Placement
During the internship period of eight weeks, the intern was placed in corporate office,
Kathmandu. The internee was placed in Customer Service Department, DP department, Trading
Department and Account Department. The Intern also got chance to have direct talks with staff of
other brokerage firm and banks to gain more knowledge about the capital market.
Duration of internship
As prescribed by P.U for the course of BBA, Intern should work for eight weeks or 2 months as
per internship period to understand and learn various activities carried out in different
departments. Intern worked in Kalika Securities from 29 th September to 28th November 2021. This
time period was enough for the internee to understand the basic knowledge of the capital market.
The duration intern spent in different departments during internship period is presented below:

3
Table 1
Placement in different departments
Weeks
Departments
1st 2nd 3rd 4th 5th 6th 7th 8th

Account
Department

Customer
Service
Department

CNS
Department

Trading
Department

The internship work that the intern performed can be called as a mix of general as well as specific
tasks. General tasks that the intern performed were normal day to day tasks assigned to any intern
like dealing with clients, filing documents, printing etc. But the intern had also got a specific task
assigned to him as well which was to work under different departments in different time periods.
These activities performed as an intern was really fruitful and can be listed according to the
different departments where he worked. During the 8 weeks internship period, intern was placed
in four different departments as mentioned above.

Kalika Securities is one among the excellent services organizations in the field of share Markets.
The main objective of this organization continuing broker practice ethically by providing
Brokerage Services to its clients and obeying Securities and Exchange Law of the country. The
intern had performed certain activities mentioned as follows:

1.3 Customer Service Department

4
Customer service is the first importance function of this organization, which provides information
of buying and selling of shares, daily price fluctuation of secondary shares, and others related
information to the consumers. The intern had performed certain activities:

• Filling up the forms of KYC for the customers.

• Interacting with the customers if they felt any problem.
• Receiving the visitors and customers.
• Helping customers to open account and verifying all the required documents.
• Answering the phone calls and providing them information about their queries.
• Verifying all the documents that were needed while filling up the forms

5
1.3.1 Trading Department

This department is mainly concerned with the trading activities of the organization which
involves buying and selling of securities in the secondary market. It takes the order of the client
and place that order in the market depth. This department has to work as per the instruction
provided by the clients and make the trade as per the order filed.

• Sending message to the customers about their buying and selling transactions.
• Transferring the shares to the customer’s respective account when they buy or sell
shares.

1.3.2 CNS (Clearing and Settlement) Department

When shares of stock, or other securities, are bought or sold, both buyer and seller must fulfill
their obligations to complete the transaction. During the settlement period, the buyer must pay for
the shares, and the seller must deliver the shares. Settlement occurs two business days after the day
the order executes. The activities performed by intern are as follows:

• Mapping the shares when the clients buy the shares and when they make the payment.

• Check the clients statement to know whether to send share or not.

• Informing clients to do EDIS in time.

1.3.3 Account Department

In account department, Internee was assigned to handle customers who has queries related their
daily transaction as well as assigned to make entry on the system of the receipt. Intern was
supposed to perform following duties and responsibility:

• Filling up the debit and credit vouchers.

6
• Providing the buying and selling bill to the clients.
• Making entry of daily receipt on the system.
• Analyzing the statements of the bank and the day book of the company.
• Informing the customers about the due of their purchase through phone calls.

1.4 Limitations of the study

This internship report is prepared based on the observations, experiences of the internship, formal
and informal interview with the staffs and the secondary data available in various media. But it is
fairly not possible for an internee to cover up the whole thing within a short time. And as
limitations are the part of progressive system, so the limitations faced during the internship period
and during the preparation of the report is highlighted below:

• The time period of the internship was not enough for a comprehensive study of the
brokerage firm and their activities.

• Crucial information cannot be obtained due to the tight schedules of seniors,

supervisors and staffs.

• Limited time and resources are the major limitations of this report.
• The senior officers were not able to provide the complete guidance due to lack of time
during the internship period.
• The information that cannot be disclosed which means the confidential information
are not presented in this report.

• Lack of staffs was also a limitation as the intern could not learn and observe different
things.

7
1.5 Introduction To The Brokerage Firm
A stock market is reflector of a countries economy and brokerage firm are like reflector of stock
market of country. A brokerage firm is a business that serves as a transactional middle between a
buyer and a seller. It can also function a

0s a professional adviser for people who engage in trading securities. Stock brokerage firm or
Brokerage firm are the licensed agents who buy and sell stocks and other for both institutional
and retail clients, through a stock exchange or over the counter, in return for a fee or commission.
Brokerage firms serve a large number of clients who trade public stocks and other securities,
usually through the firm's agent stockbrokers. They execute the buy/sell orders on behalf of
investors.

As an agent the stock broker is merely performing a service for the investor. Which means the
broker will buy for the buyer and sell for the seller, each time making sure that the best price is
obtained for the client. Security brokerage firm came into existence mainly with the objective of
facilitating the buyer and seller of financial assets.

According to Security Business Person Regulation,2064 “Stock Broker means a corporate body or
a company licensed as Stock Broker from the Board for providing brokering services of buying or
selling securities in the name of client only as per the client’s order.”

1.5.1 History of brokerage firm

Share broker as an institutionalized profession was started in Rome, dates back to 2nd Century
BC. It was a small-scale practice with scarce and irregular trading of government bonds in a few
Italian cities such as Venice and Genoa.
However, company stocks were not formally traded until 1602, when Dutch East India Company
released the first publicly traded stocks through the Amsterdam Stock Exchange.

8
 At the end of the 17th Century, the London Stock Exchange came into existence, and almost a
hundred years later, in 1792, the New York Stock Exchange was formed. India and Asia saw its
first stock exchange in the name of Bombay Stock Exchange in 1875.
New stock exchanges opened their doors in the 16th and 17th centuries, including the London
Stock Exchange, which was opened at a coffee shop in 1698. In the 1800s, in the United States,
the New York Stock Exchange opened its doors under a buttonwood tree in New York City. 24
stockbrokers signed the Buttonwood Agreement, agreeing to trade five securities under that
buttonwood tree.

Types of brokerage firms

Brokerage firms come in several different variations. Choosing which day trading broker to use is
an important part of becoming a stock trader. There is not a specific company out there that is the
"best day trading broker." The broker you choose should be relative to your needs as a trader.

Before rushing into choosing an online broker, make sure you know what your needs are. Focus
on your trading strategy and find a broker that will help you meet investment needs and financial
goals. Some of the types of brokerage firms can be listed below:

• Full-service brokerage firm

A full-service brokerage firm is a brokerage firm that provides a range of financial services in
addition to allowing an investor to buy and sell securities. These firms can provide customers
with financial planning services, trust services, wealth management services and consulting
services as well. Full-service brokers have physical offices and locations. These firms tend to
have their own investment banking and research departments that provide their own analyst
recommendations, products and access to initial public offerings (IPOs). This is the most
expensive type of brokerage firm and the investor will be able to place buy and sell orders over
the internet or telephone.

• Discount brokerage firms

A discount brokerage firm is similar to that of full-service brokerage that have narrowed the gap
with full-service brokers in terms of financial products and services providing independent
research, mutual fund access and basic banking products. The commission

9
 charged by discount brokerage firms is cheaper than those of full-service brokerage firms. Like a full-
service brokerage firm, the investor can make trade over the phone or online. Some also do offer
trades via a smart phone. Many of the larger discount brokers provide their own direct-access trading
platforms and physical office locations throughout the country.

• Online brokerage firm

Online brokers also known as direct-access brokers cater to active day trading clients with the
smallest commissions often priced on a per-share basis. An online brokerage firm is a brokerage
firm that provides its services through the internet.

There are two types of online brokerage firms. Active day traders are best advised to use
reputable online/direct-access brokers to ensure maximum control and flexibility as well as
speedy order fills. To keep overhead low and pass on the cheaper rates, online brokers usually
don’t provide physical office locations for customers. When the online service is provided as an
option of full service or discount firm, it is referred to as a self-service account.

Meaning of stock broker

A stockbroker is a professional trader who buys and sells shares on behalf of clients. The
stockbroker may also be known as a registered representative or an investment advisor. A
stockbroker is a regulated professional individual, who buys and sells stocks and other securities
for both retail and institutional clients through a stock exchange or over the counter in return for a
fee or commission. Brokerage firms and broker-dealers are also sometimes referred to as
stockbrokers. Stockbrokers are known by numerous professional designations, depending on the
license they hold, the type of securities they sell, or the services they provide.

1.6 Introduction to Securities market

Security market is a component of the wider financial market where securities can be bought and
sold between subjects of the economy, on the basis of demand and supply. Security markets
encompasses stock markets, bond markets and derivatives

markets where prices can be determined. A securities market is used in an economy to attract new
capital, transfer real assets in financial assets, determine prices which will balance demand and
supply and provide a means to invest money both short and long term. The securities market can
be broadly divided into primary and secondary market.

10
• Primary market
Primary market is the market in which the Companies, governments or public sector institutions
can obtain funding through the sale of a new stock or bond issue. The process of selling new
issues to investors is called underwriting. In the case of a new stock issue, this sale is a public
offering. These primary transactions are arranged by the Investment banker who serves as an
intermediary between the issuing company and the investors. The investment banker reduces the
risk and cost of creating a market of its securities to the issuer.
Initial Public Offering
An initial public offering (IPO) refers to the process of offering shares of a private corporation to
the public in a new stock issuance. Public share issuance allows a company to raise capital from
public investors. IPOs provide companies with an opportunity to obtain capital by offering shares
through the primary market. Companies must meet requirements by exchanges and the Securities
and Exchange Commission (SEC) to hold an initial public offering (IPO).
It also allows public investors to participate in the offering. Any company raising the funds has to
be fulfill the requirements set by regulating authority. Even in our country, initial public offering
is strongly monitored by Securities Board of Nepal (SEBON). In other words, IPO is the selling of
securities to the public in the primary market. A primary market deals with new securities being
issued for the first time. After listing on the stock exchange, the company becomes a publicly-
traded company and the shares of the firm can be traded freely in the open market.
• Secondary market
The secondary market, also known as the aftermarket, is the financial market where previously
issued securities and financial instruments such as stock, bonds, options, and futures are bought
and sold. Secondary market provides the liquidity to the financial

11
securities. Any transactions on the secondary market occur between investors, and the proceeds of
each sale go to the selling investor, not to the company that issued the stock. It provides a platform for
the investor to resell and repurchase of the securities. The transaction in secondary market is facilitated
by the security broker.

1.7 History of securities market in Nepal

The history of securities market began with the floatation of shares by Biratnagar Jute Mills Ltd.
and Nepal Bank Ltd. in 1937. Introduction of the Company Act in 1964, the first issuance of
Government Bond in 1964 and the establishment of Securities Exchange Center Ltd. in 1976
were other significant development relating to capital markets.
Securities Exchange Center was established with an objective of facilitating and promoting the
growth of capital markets. Before conversion into stock exchange, it was the only capital markets
institution undertaking the job of brokering, underwriting, managing public issue, market making
for government bonds and other financial services. Nepal Government, under a program initiated
to reform capital markets converted Securities Exchange Center into Nepal Stock Exchange in
1993.
With the establishment of SEBON the then, Securities Exchange Centre was converted into Nepal
Stock Exchange Ltd. (NEPSE), which started trading of securities with the introduction of
Stockbrokers. As of the March 2007, there are 23 stockbrokers, 3 securities dealers and 9 issue
managers providing securities market intermediation services and 131 listed companies.
In the year 2067/68, the NEPSE issued new license for 27 brokers. At present, there are 50
member brokers who operate on the trading floor as per the Securities Act, 2063 (2007),
Securities Regulation, and by-law. The broker house and its branches are expanded over 21
different cities of Nepal. At present there are 149 companies listed in NEPSE. NEPSE is operating
under the Securities Exchange Act -2063. The list of brokerage firms is presented in Annex I.

12
Securities Exchange Board of Nepal (SEBON)

Securities Board of Nepal (SEBON) was established by the Government of Nepal on June 7,
1993. It is a regulatory body of Securities Markets in Nepal. SEBON has been regulating the
market with power conferred by the Securities Act, 2006. It has the power to regulate and manage
the activities of the securities market and individual involved in the business of dealing in
securities.
The Board of SEBON is composed of seven members including one full time chairman appointed
by the Government for tenure of four years. Other members of the Board include joint secretary
of Ministry of Finance, joint secretary of Ministry of Law and Justice representative from Nepal
Rastra Bank, representative from Institute of Chartered Accountants of Nepal, representative from
Federation of Nepalese Chambers of Commerce and Industries, and one member appointed by the
Government from amongst the experts pertaining to management of securities market,
development of capital market, financial or economic sector.

1.7.1 Nepal Stock Exchange (NEPSE)

The Nepal Stock Exchange Limited (abbreviated as NEPSE) is the only Stock Exchange of Nepal.
NEPSE is the only secondary capital market of Nepal. Nepal Stock Exchange is established under
the Companies Act- 2006, operating under Securities Act- 2007. The vision of NEPSE is creation
of wealth of nation by adding value through trading of securities.

The basic objective of NEPSE is to impart free marketability and liquidity to the government and
corporate securities by facilitating transactions in its trading floor through member, market
intermediaries, such as broker, market makers etc. NEPSE opened its trading floor on13 th
February 1994. The other objective of NEPSE is to protect investors’ rights and develop a
secondary market, as prescribed in the Memorandum of Association and Articles of Association.
The function of NEPSE is to provide trading floor to the listed securities. The goal of NEPSE is
to list both corporate as well as government bond and also provide marketability and liquidity to
the listed companies.

13
The Board of Directors consists Nine directors in accordance with Securities Exchange Act 1983.
In 1994, NEPSE started its trading with 62 listed companies. From 2005 government bonds are
being listed and traded at NEPSE floor. At present there are more than 149 companies listed in
NEPSE. NEPSE has replaced the open cut trading system with fully automated screen-based
trading system (ATS) since 24th August, 2007 under the CFG project of Government of Nepal
aided by Asian Development Bank. The system is able to eliminate all possible human errors as
seen in the earlier open cut system. Several international practices are incorporated to make the
system internationally applicable and modification are also made to customize the existing rules
and regulations of the country.

• Ownership structure of NEPSE

The Government of Nepal holds the significant number of NEPSE’s shares. The current paid-up
capital of NEPSE is NRs.50,00,00,000. Government of Nepal, Nepal Rastra Bank, Employees
Provident Fund, Rastriya Banijya Bank, Laxmi Bank Ltd, Prabhu Bank Ltd and other securities
businessperson are the shareholders of NEPSE. The following table shows the percentage of
shareholdings by respective shareholders on the capital structure:

Table 2.1
Ownership structure of NEPSE

S. Shareholders Ownership (Percentage) No. of Shares

N.
1 Government of Nepal 58.66 2933122.5
2 Nepal Rastra Bank 14.60 729989.5

3 Employees Provident fund 10.00 500000

4 Rastriya Banijya Bank 6.14 306816

5 Laxmi Bank Ltd 5.00 250000

6 Prabhu Bank Ltd 5.00 250000

7 Others 0.60 30072

(Source: www.Nepse.com.np)

14
• Structure of Board of Directors
The Board of Directors (BOD), which will govern NEPSE, constitutes of members representing
different sectors as per Securities Act 2006. Present, the Board of Directors constitutes 2
Members including a chairman from Nepal Government, 2 Members from Nepal Rastra Bank, 1
from Rastriya Banijya Bank. Moreover, one member will be nominated by BOD as an expert in
capital market. General Manager of NEPSE will serve as a director on the BOD.

1.7.2 CDS and Clearing Limited

CDS and Clearing Limited, a company established under the Company Act is a company
promoted by NEPSE in 2010 to provide centralized depository, clearing and settlement services
in Nepal. The company was inaugurated on 31st March, 2011. The main objective of CDSC is to
act as a central depository for various instruments specially to handle securities in dematerialized
form.

This organization is entrusted with the safekeeping, deposit and withdrawal of securities
certificates and the transfer of ownership or rights of the said instruments. The depository
functions will be performed by the company under the securities regulations of Securities Board
of Nepal. CDSC is a wholly owned subsidiary company of Nepal Stock Exchange Ltd. which was
established on 7th Poush, 2067.

Settlement department makes the verification and approval of the transactions occurred in
secondary market daily. The department controls the trading activities of the broker firms by
making the verification of the securities documents and payment made by both the parties.
Clearing department carries out the function of making the verification and approval of the
ownership transfer and blank transfer of the securities by the owner of the securities.

15
 Chapter 2

INTRODUCTION TO KALIKA SECURITIES PVT. LTD.

2.1 Background of the organization

kalika Securities Pvt. Ltd. is a stock dealer which is responsible for the exchange of securities
from the buyers to the sellers and vice-versa. Kalika Securities Pvt. Ltd. was legally registered in
2053 BS by a team of professionals. However, it officially started its services to serve Nepal’s
capital market after obtaining license from Nepal Stock Exchange Limited (NEPSE) on 2054-04-
14 BS as a Stock Brokerage.

After enactment of Securities Act in 2065-02-24 BS, kalika has successfully upgraded itself to
required criteria, and retained its license and has regularly been serving its clients ever since. It is
established as an authorized broker (no.3) for trading of securities from the securities market
(NEPSE). It is located in Anamnagar, Kathmandu. Transparency, long term cliental relation has
always been of priority of their management, which in turn has yielded sustained growth and
smooth operation of Kalika Securities Pvt. Ltd. It is one of the most successful brokerage firm in
Nepal.

2.2 Vision of Kalika Securities

The vision of Kalika Securities Pvt. Ltd is to be among the top competing brokers by being the
best and most trusted brokerage house providing healthy and efficient services for widespread
customer satisfaction. It seeks to provide an environment which creates values and services to its
clients.

2.2.1 Mission of Kalika Securities

The mission of Kalika Securities Pvt Ltd is “Continuing broker practice ethically by providing
Brokerage Services to its clients and obeying Securities and Exchange Law of the country”. Its
aim is to remain trusted and reliable as a pioneer stock brokerage firm of Nepal by providing high
quality services to the customers.

16
17
2.3 Objectives of Kalika Securities
• To connect with the investors and provide them easy access to capital market.
• To provide customer-oriented services to all customers through competent and
professional staffs.

• To grow company’s portfolio along with client’s portfolio.

2.3.1 Services offerings by kalika Securities

Kalika Securities offers services catering to its customers. To sum up, Kalika Securities makes
securities trading simple and accessible to all sections of society. Some of the major products of
the organization are as follows:

• Stock Brokerage Services

Since, inception Kalika Securities have been providing stock brokerage service that includes
buying and selling of stocks for its clients of companies which are listed on Nepal Stock
Exchange (NEPSE). The companies listed on NEPSE are categorized into 11 types based on their
functions which are commercial bank, development bank, micro finance, hydro power companies,
mutual funds, hotels, insurance companies, finance companies, manufacturing & processing
companies, trading companies and others.

• Depository Services
As Kalika Securities Pvt Ltd are a registered Depository Participant of CDS and Clearing
Limited, the Central Depository of Nepal, it provides investors dematerialization services,
pledge/unpledged of securities etc for its clients. It deals with all depository services which is
comprised of opening and maintaining of BO account, transfer and transmission of instruments,
dematerialization of instrument through service depository participant of CDSC.

• Client Services
It offers the highest level of convenience to clients through highly skilled traders who fully
understand client’s requirements. Also, it provides expert advice to clients and executes order
accurately and instantly to obtain clients total satisfaction.

18
• Online trading
Kalika securities have been providing online trading services to its clients. It will facilitate them to
transact shares from anywhere of the world through internet.

2.4 Capital Structure of Kalika Securities

The authorized capital of stock broker in Nepal is Rs. 5 crores. Stock broker should maintain
minimum balance of Rs. 5 crores in its account.
The paid-up capital of the Kalika Securities is Rs. 5crores.

Table 3
Capital structure of kalika Securities Pvt. Ltd
Shareholders Name Amount (Rs) Percentage (%) No. of Shares

Narendra Raj Sijapati 3,30,00,000 66% 3,30,000 shares

Puskar Panth 1,70,00,000 34% 1,70,000 shares

Source: Annual Report of ASPL (2077/78)

Figure 3: Shareholders Capital
Structure

19
2.5 Service Charges of Kalika Securities
Kalika Securities have been providing services to the clients for easy and simple trade. And it
only charges the stock brokerage service charges.

• Stock Brokerage service charges

Since, Kalika Securities is highly regulated, all of their service charges are fixed by the regulatory
authorities. Their brokerage services are as follows:

Table 3

Stock brokerage charges

S.N. Transaction Volume Percent of Turnover

1 Up to Rs.2500 Flat Rs. 25

2 From Rs.2501 to Rs.50000 0.60%

3 From Rs.50001 to Rs.500000 0.55%

4 From Rs.500001 to Rs.2000000 0.50%

5 From Rs.2000001 to Rs.10000000 0.45%

6 From Rs. 10000000 onward 0.40%

(Sources: www.Sebon.gov.np)

In addition to the above charges a fee of 0.015% regulatory fee is added to the above transaction.

2.5.1 Various Departments of Kalika Securities

Kalika Securities Pvt. Ltd has four departments performing different tasks that are different to
each other. Brief introductions to various departments of Kalika Securities are described below:

• Customer Service Department

This department fills up the different types of forms if customer asked to fill up. Interact with the
customers if they fell any problems. This department also answers the phone calls and gives
information of their queries. Helping customers to open account and verifying all the required
documents. This department is also concern with the opening the D-mat accounts for the
customers. This department gives the statement of share to the customers.

• Trading Department
This department is mainly concerned with the trading activities of the organization which
involves buying and selling of securities in the secondary market. It takes the order of the
20
client and place that order in the market depth. The matching of the orders in the market leads to
the execution of the order. This department has to work as per the instruction provided by the
clients and make the trade as per the order filed.

• CNS (Clearing and Settlement) Department

When shares of stock, or other securities, are bought or sold, both buyer and seller must fulfill their
obligations to complete the transaction. During the settlement period, the buyer must pay for the
shares, and the seller must deliver the shares. Settlement occurs two business days after the day
the order executes. Settlement Department in Kalika Securities is responsible in mapping the
shares with buyer and seller. They are even responsible to know whether clients have done EDIS
or not and informing them to do in time. The CNS department is obliged to send share to the
clients.

• Account Department
Account department at Kalika securities Pvt. Ltd is responsible for carrying out the finance
related activities. It involves the collection of cash and cheque from the clients, managing the
funds, making the payment to stock, paying out the cash and check to the clients, keeping the
records of all the financial and accounting activities of an organization, tracking the payments
done by the clients and sending email and message to the clients.

21
 CHAPTER III

ANALYSIS OF ACTIVITIES DONE & PROBLEMS SOLVED

3.1 Background
Being a part of kalika Securities Private Limited for 8 weeks as an intern was a great opportunity
to learn about the security market in Nepal. During the internship tenure in Kalika Securities (P)
Ltd, intern was placed in Documentation, Customer Services, Finance and Settlement
departments to learn and observe various activities performed by Broker company. Even the time
was limited intern managed to visit and work in the departments with the proper supervision and
cooperation of the seniors and staffs.

The internship work that the intern performed can be called as a mix of general as well as specific
tasks. General tasks were normal day to day tasks assigned to any intern like dealing with clients,
filing documents, printing etc. But specific task assigned as well was to work under different
departments under the BOSS system in different time periods. These activities performed as an
intern can be listed according to the different departments where he worked. They are:

Customer Service Department

As a share broker Kalika Securities has to handle a lot of clients to run its operations smoothly.
The customer service department also included a part of the DP services. The intern worked as an
assistant to the customer service department manager where she spent less time in the internship
period. The activities performed are as follows:

• Handled Clients
The intern interacted with the new clients who came to open a trading account. The clients needed
to have their KYC forms filled with correct details according to their citizenship and bank
account details. The forms were accepted by the intern after checking the forms

22
 for the correct details. The clients were needed to be instructed with the process of trading of the
shares. The intern would instruct the clients with the process and help them to fill the KYC forms.

• Provided Statements
The clients asked for the statements of their purchases/sales of the shares and any updates about
their trading account at the Customer Service Department. The intern helped the current
employees at front desk and also provided the statements in their absence.

• Helped in Dematerialization of shares

The clients come with their shares certificates to dematerialize them through Kalika Securities.
The front desk accepts them and forwards them to the DP Department. The intern used to instruct
the clients who needed instructions to fill the forms for dematerialization of shares.
• Updated KYC details into BOSS
The intern was given the task to update the KYC forms into the BOSS (Broker Office Solution
Software) where the client’s details were managed by the system. The system helped to manage the
information that is required to manage in the broker organization.

Trading Department

The important department of the share broker is the trading department. It is where the trading of
the shares takes place. Every client receives their unique code for trading which is called NEPSE
code also known as Client Code. The client has to place their order for buying or selling their
shares through the order form provided by the broker. The employee then places the order to the
NEPSE Automated Trading System where the system matches the order. The order is matched
when there is a buyer for the shares at the rate and quantity determined by the seller.

The activities that the intern performed at the department were very less in this department. The
intern could observe the activities performed in the department as she was not authorized to use
the system.

23
 The trading department faces a lot of challenges while dealing with the clients. The department
has to fill every order correctly so that there does not occur any mistake. The mistakes cannot be
reversed after the transaction has occurred. The broker or the client (whoever makes the mistake)
pays 20% fine when the mistakes occur in the transactions. There is a long queue of investors at
the trading floor waiting to get their turn for placing their order. The trading department has to
handle all the orders well even at these peak times of trading.
3.1.1CNS (Clearing and Settlement) Department
When shares of stock, or other securities, are bought or sold, both buyer and seller must fulfill their
obligations to complete the transaction. During the settlement period, the buyer must pay for the
shares, and the seller must deliver the shares. Settlement occurs two business days after the day the
order executes. Settlement Department in kalika Securities is responsible in mapping the shares
with buyer and seller. They are even responsible to know whether clients have done EDIS or not
and informing them to do in time. The CNS department is obliged to send share to the clients.

Also, the intern managed the EDIS at the department.

In the CNS Department the intern got an idea about the daily settlement of shares sold. Intern
came to know that the settlement is done on the 3rd day (T+2) of the transaction.

• Mapping the shares when the clients buy the shares and when they make the payment.

• Check the client’s statement to know whether to send share or not.

• Informing clients to do EDIS in time.

Account Department

The accounts department looks after the financial transactions that are taken place in the
organization. The share trading has a unique accounting process where the settlement is done on
the 3rd day of the transaction. The accounts department receive payments from the clients for the
purchase and make payment to the client for the sale of their shares.

24
The accounts department issues the bill of purchase of securities after the trading hour of the
transaction. The client has to pay the amount of bill which includes the share amount, SEBON
commission, broker commission and DP fee. The bill of sales of securities is issued after the
settlement of securities. The client receives the payment of their securities after deducting the
SEBON commission, broker commission, DP fee and Capital gain tax. All the transactions are
done from A/C payee cheque.
In the accounts department, the intern got the idea of the accounting of share transactions. The
intern could observe all the financial activities in the department while arranging vouchers, bills
and filing of some documents. The intern was given the job to operate the system in the
department and the task assigned to her was to make entry in the BOSS system of receipt and
payment done by clients. Intern was assigned to track the payments done by the clients for the
share purchased via email.

3.2 Problem Faced

While carrying out the tasks, the intern faced different types of problems in the organization.
They are as follows:

• It was hard to provide guidelines to the customers on filling different types of forms in
the initial phase of the internship period. Similarly, it was difficult to arrange the files
in systematic manner initially.
• Sometimes the customer disagreed to accept the charges for account renewals and
make argument on this matter for long time. So, it becomes difficult to convince them
about the charges.
• To deal with the clients was the most difficult part in the internship period. Being an
intern, the most difficult task was to convince the clients.

• The absence of clients in the process of filling up different types of forms was really a
challenging task to perform.
• The payments made by the clients was tough to find as only few clients send the
information about the payments made.

• Due to lack of the clear information, I made double entry of receipt in the system
which was corrected by my senior.

25
• Due to a smaller number of staffs intern was assigned to do various tasks.

• The trading department was hard to understand at the initial phase.

• In CNS department everyday settlement process started late.

• Clients do not perform EDIS on time and the work cannot be completed in time.

3.3 Problems Solved

During the tenure of the internship various problems are to be faced by the intern because the
intern was new to the organization and don’t have the information about a brokerage firm. The
following are the problem solved during the internship period:

• I was provided with the job of filling up and arranging the KYC forms. The forms
were arranged in unsystematic manner before. Under the guidance of the senior staffs,
we were able to arrange the files in systematic manner in electronic manner so that the
files were easily available whenever needed.
• Due to lack of knowledge wrong information was provided to the client in the
beginning. At that time, senior staff immediately corrected our mistake and gave the
right information.
• The seniors provide us the necessary guidance to deal with the clients. As a result, I
was able to handle the clients and deal with them at the time when needed.
• Through the continuous supervision from the seniors and their guidance I was able to
understand the trading department.
• With the supervision and guidance of the senior supervisor I was able to understand
the statements of the clients and provide them correct information.
• Information provided by senior staff help me to make the correct entry of receipt and
payment in the BOSS system.
• Information provided by senior staff everyday helps me to fill the vouchers correctly.
• Clients are informed everyday by phone calls to do EDIS of the sold shares as per the
list provided by supervisors.
• Phone calls are made at a daily basis to the clients listed as per the staff who doesn’t
make payment on time

26
3.4 Conclusion
It's believed that the strong and systematized educational system has an immense role for
producing efficient and effective human forces for the development of the nation. Education
encompasses both the teaching and learning of knowledge, proper conduct and technical
competency.

Internship, a mandatory part in BBA program, carries a crucial evaluation and opportunity to
gather real life work experience for BBA graduates. Seven weeks internship program in the final
semester of BBA has been designed by Pokhara University with the objective of providing
students with an opportunity to learn the real work environment in the organization. Internship is
necessary to build up a right track for challenging jobs and career. Internship is supposed to bond
the classroom knowledge gained with the actual work environment. The total internship period
becomes fruitful as the intern got the opportunity to achieve the objectives with proper guidance
of the senior staff.

Kalika Securities officially started its services to serve Nepal’s capital market after obtaining
license from Nepal Stock Exchange Limited (NEPSE) on 2054-04-14 BS as a Stock Brokerage.
Kalika Securities has been actively been growing and updating itself to meet the contemporary
business needs of its clients. Kalika Securities has been established with the objective to grow
company portfolio along with client’s portfolio. Kalika Securities provides wide range of services
related to the trading of securities, provide information to the investors regarding buy and sell of
the securities.

As an internee, it was a wonderful and knowledgeable experience for me to be a part of company

even though it was for a short period of time. Within the short duration of internship, the intern
was able to acquire and observe the general activities performed in brokerage firms. The intern
was placed in different departments (Customer Services

27
Department, Documentation Department, CNS Department, Finance Department). All the
departments are categorized as per the functions performed.

The internee at the end can conclude that activities performed at Kalika. In conclusion the intern
can say that through the activities performed at Kalika the internee was able to apply the
organizational knowledge the internee gained in his classroom to the actual working environment.
This internship program helped me gain a practical knowledge on things that the intern learned on
books. Summing-up it was a great experience for me and the knowledge gained from it will
always be applicable and fruitful for intern in his future career.

3.4.1 Lesson learnt

The internee was able to gain knowledge as well as the practical implications of various
theoretical knowledge after the two-month internship exposure. Internship has served as guide in
understanding the activities in the brokerage firms. All the lessons learnt can’t be express in the
language form as it provides an opportunity to gain the practical exposure in the brokerage firms
and obtain some experience that acts as stepping stone before entering into professional world.
The knowledge gained from the internship helps us to deal with the outside working world and
provide opportunity to deal the clients of different nature in professional world by improving our
communication skills, public relationship skill, analytical skills. It has also helped the internee to
develop his/her ability to work under pressure.
The things intern had learnt during the tenure of internship are listed below in following points:
3.1.1 Real-life Working is a very pressurized task and hence cool and calm mind
is essential for success.
3.1.2 Learned to speak, function and work in corporate, analytical way.
3.1.3 Learned the institutional culture and the values in the corporate world.
3.1.4 Importance of effective communication among the staff and even the
clients in the job-place.

28
 3.1.5 Interact and behave in a professional way to the clients to make them
satisfied with your services.
3.1.6 Understood the trading mechanism in a whole and the way in which the
stock price is negotiated in market depth.
3.1.7 Had an idea about the various party involvements in the secondary market.
3.1.8 Learned to treat each individual differently because of the individual
differences among them.
3.1.9 Had an idea to handle the system of brokerage firm that deals with the
activities of an organization.
3.1.10 Learned to deal with the clients rationally and analytically.
3.1.11 Learned to be punctuate, disciplined and obedient in the professional work
life.

These above mentions are some of the important things that the intern have learned during his
internship period.
Concluding this chapter with one saying “The best way of learning is by doing” by an unknown
author is very much appropriate at this stage to express the lessons that had been learnt during the
internship period. In internship practically the work is either observed or done practically, which
are the best means of learning. So, the internship program is successful in bringing the change in
the student closed in the boundary of the classroom by exposing them in the real and very difficult
and challenging external job place.

3.5 Recommendations to the Organization

Working in kalika Securities (P) Ltd was a great experience me to increase the horizon of my
knowledge and boost the internee knowledge. It was right place where the theories studied in
college were really implemented in practical ground. However, the intern observed some
drawbacks while working in the organization. Following points are recommended as a feedback
to make this experience even better one:

• Re-structure and re-organize the job and responsibilities so that there is efficiency in
job completion.

• ensured timely in regular basis.

28
• Increase the staffs because daily transaction is increasing continuously.
• There was not enough space available to store the files, the files may get misplaced
and the required file may not be available in the required time.
• The organization should improve its departmental overload which is now for few staff
only.
• Proper communication among the staff with their supervisor is a necessity to be
improved.
• Proper communication and continuous follow up to the clients in a daily basis.

29
 References
Thapa, K. (2013). Investment Analysis and Management. Kathmandu: Asmita Books and Publisher
Pvt. Ltd.

Nepal Stock Exchange Private Limited. (2021, M. 7. (2021, June 11). Nepse. Retrieved from
Nepal Stock Exchange Private Limited:www.nepalstock.com

Share sansaar. (2021, May 11). Retrieved from Share sansaar Nepal:
https://www.sharesansar.com/

Kalika Securities Private Limited. (2021, May 20). Retrieved from Kalika Securities:
https://www.kalikasecurities.com/

Securities Board of Nepal. (2021, May 11). Retrieved from SEBON:

https://www.Sebon.gov.np

NEPSE Online Trading system. (n.d.-b). NEPSE. Retrieved May 11, 2021, from
Https://Tms03.Nepsetms.Com.Np/Login.

x
 APPENDICES
APPENDIX I: List of Stock Brokers in Nepal

1 1 Kumari Securities Pvt. Dilli Bazar, Kathmandu 01-4418036

Limited
2 1_RWS Kumari Securities Pvt. New Road, Pokhara 061-537511
Limited
3 3 Kalika Securities Pvt. Pinglasthan, 01-4113750
Kathmandu
Limited
4 4 Opal Securities Putali Sadak, 01-4239273
Kathmandu
Investment Pvt. Limited
5 5 Market Securities Exchange Company Kichha Pokhari, 01-4248973
Pvt. Limited Kathmandu

6 6 Agrawal Securities Pvt. Putalisadak, 01-4168056

Kathmandu
Limited

7 6_RWS Agrawal Securities Main Road, Biratnagar 021-531667

Pvt.Limited
8 7 J.F. Securities Company Putalisadak, 01-4442912
Kathmandu
Pvt. Limited
9 7_RWS J.F. Securities Company Durga Mandir Line, 071-540737
Pvt. Limited Butwal
10 8 Ashutosh Brokerage & Kichha 01-4220276
Securities Pvt. Limited Pokhari, Kathmandu
11 10 Pragyan Securities Pvt. Kamaladi, Kathmandu 01-6226890
Limited
12 10_RW Pragyan Securities Pvt. College Road, 021-527283
Biratnagar
S Limited

13 11 Malla & Malla Stock Dilli bazar, Kathmandu 01-4432088

Broking Company Pvt. Limited

xi
14 13 Thrive Brokerage House Naxal,Kathmandu 01-4419051
Pvt. Limited

15 13_RW Thrive Brokerage House Gairipatan, Pokhara 061-522935

S Pvt. Limited *

16 14 Nepal Stock House Pvt. Anamnagar,Kathmandu 01-4265888

Limited

17 14_RW Nepal Stock House Pvt. Gairapatan, Pokhara 061-534694

S Limited

18 16 Primo Securities Pvt. Putalisadak,Kathmandu 01-4168164

Limited

19 17 ABC Securities Pvt. Indrachowk,Kathmandu 01-4230787

Limited

20 18 Sagarmatha Securities Putalisadak,Kathmandu 01-4433221

Pvt. Limited

21 19 Nepal Investment & Bhimsengola,Kathmandu 01-4495450

Securities Trading Pvt.
Limited

22 19_RW Nepal Investment & Main Road, Biratnagar 021-440127

S Securities Trading Pvt.
Limited

23 20 Sipla Securities Pvt. NewRoad,Kathmandu 01-4255782

Limited

24 21 Midas Stock Broking Kamaladi Chowk, 01-4240089

Company Pvt. Limited Kathmandu

25 22 Siprabi Securities Pvt. Kupondol,Lalitpur 01-5530701

Limited

26 22_RW Siprabi Securities Pvt. Resham Kothi, Birgunj 051-523818

S Limited

xii
27 25 Sweta Securities Pvt. Putalisadak,Kathmandu 01-4444791
Limited

28 26 Asian Securities Pvt. BaghBazar, Kathmandu 01-6224609

Limited

29 28 Shree Krishna Securities Dharmapath, Kathmandu 01-4224262

Limited

30 29 Trishul Securities And Putalisadak,Kathmandu 01-4440709

Investment Limited

31 29_RW Trishul Securities And Milan Road, Narayanghat 056-528426

S Investment Limited

32 32 Premier Securites Putalisadak,Kathmandu 01-4231339

Company Limited

33 32_RW Premier Securites New Road, Pokhara 061-534201

S Company Limited

34 33 Dakshinkali Investment Kamaladi, Kathmandu 01-4168640

Securities Pvt.Limited

35 34 Vision Securities Putalisadak, Kathmandu 01-4438621

Pvt.Limited

36 35 Kohinoor Investment and Kamalpokhari, 01-4442857

Securities Pvt.Ltd Kathmandu

37 36 Secured Securities Putalisadak, Kathmandu 01-4168172

Pvt.Limited

38 37 Swarnalaxmi Securities Kamalpokhari, 01-4417178

Pvt.Limited Kathmandu

39 38 Dipshika Dhitopatra Anamnagar, Kathmandu 01-4102532

Karobar Co. Pvt.Limited

40 39 Sumeru Securities Hattisar, Kathmandu 01-4444740

Pvt.Limited

xiii
41 40 Creative Securities Putalisadak, Kathmandu 01-4168205
Pvt.Limited

42 41 Linch Stock Market New Baneshwor, Ktm 01-4784567

Limited

43 42 Sani Securities Company Jamal, Kathmandu 01-401006

Limited

44 43 South Asian Bulls Putalisadak, Kathmandu 01-4284785

Pvt.Limited

45 44 Dynamic Money Kamalpokhari,

Managers Securities Kathmandu

Pvt.Ltd

46 45 Imperial Securities Co Anamnagar, Kathmandu 01-4231004

.Pvt.Limited

47 46 Kalika Securities Putalisadak, Kathmandu 01-4430601

Pvt.Limited

48 47 Neev Securities Pvt.Ltd New Plaza, Kathmandu 01-4410210

49 48 Trishakti Securities Putalisadak, Kathmandu 01-4232132

Public Limited

50 49 Online Securities Pvt.Ltd Bagbazar, Kathmandu 01-4246392

51 50 Crystal Kanchenjunga New Plaza, Kathmandu 01-4228072

Securities Pvt.Ltd

52 51 Oxford Securities Pvt.Ltd Kalimati, Kathmandu 01-4278113

53 52 Sundhara Securities Sundhara, Kathmandu 01-4263583

Limited

54 53 Investment Management Tripureshwor,Kathmandu 01-4256589

Nepal Pvt. Ltd.

55 54 Sewa Securities Pvt. Ltd. Tripureshwor,Kathmandu 01-4256642

xiv
 56 55 Bhrikuti Stock Broking Newroad, Kathmandu 01-4223466
Co. Pvt. Ltd.

57 56 Shree Hari Securities Kamaladi, Kathmandu 01-4437562

Pvt.Ltd
58 57 Araya Tara Investment Anamnagar, Kathmandu 01-4233596
And Securities Pvt. Ltd.
59 58 Naasa Securities Co. Ltd. Naxal, Kathmandu 01-4440381
60 59 Deevyaa Securities & Putalisadak, Kathmandu 01-4011033
Stock House Pvt. Ltd

Source:http://www.sharesansar.com/brokerlist.php