Business
Prime Residencies shares see slowdown in trading
By Hiran H.Senewiratne
Trading at the Colombo Stock Exchange (CSE) was positive yesterday following a dip in the market on the previous day. Investors started purchasing large quantities of stocks from Prime Residencies, on the first trading day following the Initial Public Offering (IPO) overlooking other major stocks, stock brokers said.
“Investors had purchased large quantities from the previous IPO “Chrishworld” due to issuance of small quantities of shares to the public and they adopted the same approach to Prime Residencies stocks due its large quantity of shares in the market. Chrisworld had issued 7.5 million shares to the public in their IPO while Prime Residencies issued 187.5 million shares to the public,”stock market analysts said.
Due to these developments, Prime Residences share price quoted at Rs 10.40. On the previous day its share price moved upto Rs 11.90. Since investors’ expectations were not being fulfilled they did not go much for Prime Residencies stocks yesterday, therefore, its share price depreciated by 60 cent or 5 five percent. However, its share price started trading at Rs 11.90 and at the end of the day it moved down to Rs 11.30.
Amid those developments both indices moved upwards despite the turnover recorded a seven-day low. All Share Price Index was up by 22.06 points and S&P SL20 up by 9.46 points. Turnover stood at Rs 1.48 billion without a single crossing.
In the retail market top five companies that mainly contributed to the turnover were Royal Ceramic Rs 117.2 million (3.1 million shares traded), Melstacope Rs 113.4 million (2.4 million shares traded), LOLC Rs 87.8 million (293,000 shares traded), Alumax Rs 84.4 million (6.1 million shares traded) and Dipped Products Rs 68.2 million (1.3 million shares traded).
The market moved slowly but in a positive manner but strong market activities were witnessed in Melstacope and its share price moved up by four percent or Rs 2. Its share price startered trading at Rs 47 and at the end of the day it moved upto Rs 49. During the day 84 million share volume changed hands in 19,632 transactions.
Stock Exchange..
The original SEC Act No. 36 of 1987 had seen three amendments previously, in 1991, 2003 and 2009. Capital market stakeholders have been calling for a new Act for several years to ensure that regulation and market development keeps pace with modern era dynamics.
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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