Business
Transfer of JKH’s 61.9 million stocks boosts CSE turnover past Rs. 12 billion mark
By Hiran H. Senewiratne
The stock market yesterday surpassed Rs 12 billion in turnover with a great degree of retail and institutional participation. A main feature of the trading was the transferring of 61.9 million stocks in JKH, amounting to Rs 11.3 billion, market analysts said.
JKH’s transaction was equal to the company’s last/ December quarterly statement figure, which boosted the entire market performance, analysts added.
Further, market speculation that Treasury Bill yields decreased, created a bullish market sentiment for Primary dealer entities listed in the CSE. This has created a significant price appreciation, market analysts said. Capital Alliance PLC shares closed up at 48.10, and First Capital Treasuries PLC closed up 26.00. Contributors to ASPI included Richard Pieris and Company PLC (up at 21.30), Commercial Bank of Ceylon PLC (up at 89.00) and Royal Ceramics Lanka PLC (up at 29.00).
Amid those developments both indices slightly moved up. All Share Price Index went up by 2.59 points while S and P SL20 rose by 6.7 points. Turnover stood at Rs 12.2 billion with four crossings. Those crossings were reported in JKH, which crossed 62 million shares to the tune of Rs 11.3 billion; its shares traded at Rs 183, LB Finance 1 million shares crossed for Rs 61 million; its shares traded at Rs 61, Sampath Bank 300,000 shares crossed for Rs 21.6 million; its shares traded at Rs 71.90 and NDB 315,000 shares crossed to the tune of Rs 20 million; its shares sold at Rs 63.50.
In the retail market top seven companies that mainly contributed to the turnover were; JKH Rs 201.7 million (1.1 million shares traded), Sampath Bank Rs 63.8 million (887,000 shares traded), Capital Alliance Rs 49.5 million (1 million shares traded), First Capital Holdings Rs 48.5 million (1.6 million shares traded), Expolanka Holdings Rs 24.7 million (191,000 shares traded), Royal Ceramic Rs 24.2 million (836,000 shares traded) and Union Assurance Rs 23.7 million (571,000 shares traded). During the day 90.1million share volumes changed hands in 8000 transactions.
It is said high net worth and institutional investor participation was noted in JKH, Commercial Bank, Hela Apparel Holdings. Mixed interest was observed in Sampath Bank, Expolanka Holdings and Royal Ceramics, while retail interest was noted in Browns Investments, Lanka Milk Foods and Lanka Credit and Business Finance.
The Capital Goods sector was the top contributor to the market turnover (due to JKH), while the sector index gained 1.78 percent. The share price of JKH increased by Rs. 4 to Rs. 182.25.
The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank and Commercial Bank), while the sector index increased by 1.17%. The share price of Sampath Bank gained Rs. 1.10 to Rs. 72. The share price of Commercial Bank declined by 30 cents to dip to Rs. 87.70.
Yesterday the buying rate of the dollar was Rs 308.56 and selling rate Rs 318.68.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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