Business
Profit-taking in LOLC Group as banking sector performs okay
By Hiran H.Senewiratne
The CSE witnessed mixed reactions yesterday following two extreme heated sessions last Friday and Monday but could not maintain its momentum as profit takings took place across the board, specially in the LOLC Group of companies. However, the banking sector performed well yesterday, stock market analysts said.
The All Share Price Index went down by 113.69 points and S and P SL20 rose by 55.73 points. Those companies which affected the All Share Price Index were LOLC, whose shares started trading at Rs. 265.25 and at the end of the day they moved down to Rs. 230. Its share price went down by Rs. 35.25 or 13 percent.
Expolanka shares started trading at Rs. 53.80 and at the end of the day they moved down to Rs. 50, which was a Rs. 3.80 or 7 percent fall, Browns Investments (LOLC Group) started trading at Rs. 7.30 and at the end of the day it moved down to Rs. 6.90, which was a 40 cents or 5.5 percent price fall, LOLC Finance (LOCL Group) shares started trading at Rs. 9.40 and at the end of the day they moved down to Rs. 7.80, which was a Rs. 1.50 or 19 percent fall. Commercial Leasing shares started trading at Rs. 10.60 and at the end of the day they moved down to Rs.9, which was a Rs. 1.90 or 19 percent decline.
Amid of those developments banking sector counters, especially Commercial Bank, Sampath Bank, HNB and Pan Asia Bank performed well and their shares also appreciated significantly during the day. Commercial Bank share prices started at Rs. 88.70 and at the end of the day they moved up to Rs. 96.20.Its price appreciated by Rs. 6.30 or seven percent. Sampath Bank shares started trading at Rs. 146.75 and at the end of the day moved up to Rs. 162, which was a Rs. 12.25 or eight percent price appreciation, HNB shares started trading at Rs. 132.50 and at the end of the day they moved up to Rs. 139, which was a Rs. 4.50 or 3.4 percent price appreciation and Pan Asia Bank shares started trading at Rs. 15 and at the end of the day they moved to Rs. 18.69, which was a Rs. 3.60 or 24 percent price appreciation.
Yesterday the turnover stood at Rs. 11.4 billion with six crossings. Those crossings were reported in Commercial Bank, which crossed two million shares to the tune of Rs. 180 million and its share traded at Rs. 90, HNB, 950,000 shares crossed for Rs. 125.5 million, its shares traded at Rs. 129, Dialog 5.8 million shares crossed for Rs. 73 million its share traded at Rs. 12.60, JKH 400,000 shares crossed for Rs. 64.8 million, its shares traded at Rs. 162, Central Finance 500,000 shares crossed for Rs. 44 million, its shares traded at Rs. 88 and Renuka Capital 2.5 million shares crossed for Rs. 20.5 million, its shares traded at Rs. 8.20.
Further in the retail market top six contributors to the turnover were; Browns Investments Rs. 1.47 billion (210 million shares traded), Access Engineering Rs. 1.04 billion (32.2 million shares traded), Expolanka Rs. 991 million (19.4 million shares traded), LOLC Holdings Rs. 574 million (2.3 million shares traded), HNB Rs. 561 million (4.1 million shares traded) and JKH Rs. 541 million (3.4 million shares traded). During the day 690 million share volumes changed hands in 63438 transactions.
Sri Lanka’s rupee was quoted around 194.50/196.00 in the spot-next market on Tuesday while bond yields eased, dealers said. Rupee last closed around 194.50/195.00 in the spot-next market on Monday against the greenback.
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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