Business
Kotagala Plantation shares notch unusual high price
By Hiran H.Senewiratne
Trading activities at the CSE were sluggish but Kotagala Plantation noted an unusually high price and volume movement for the second consecutive day, yesterday. The market was slow until mid-day and later turned rather volatile. However, towards the latter part of the day, investor sentiment improved to positive levels, stock analysts said.
Kotagala Plantation Company, being not a highly performing company in the stock market, had its shares priced at Rs. 5 on the previous day. Its share price went up to Rs. 6.30 and yesterday its shares settled at Rs. 5.90.
It is said the indices closed on a positive note for the second consecutive session mainly on price gains in Expolanka, while other heavyweight stocks, such as Browns Investments, Commercial Leasing and LOLC- Development Bank also moved higher during the session, indicating some positive bias in the market.
Amid those developments both indices moved upwards. The All Share Price Index went up by 109.76 points and S and P SL20 rose by 45.33 points. Turnover stood at Rs. 2.91 billion with four crossings. Those crossings were reported in Nestle, which crossed 50,000 to the tune of Rs. 62.5 million and its shares traded at Rs 1250, Royal Ceramic one million shares crossed for Rs. 42 million, its shares traded at Rs. 42, Janashakthi one million shares crossed for Rs. 25 million, its shares fetched Rs. 25 and Sampath Bank 468,000 shares crossed for Rs. 23.2 million, its shares traded at Rs. 49.50.
In the retail market, top five companies that mainly contributed to the turnover were, Expolanka Rs. 883 million (five million shares traded), Browns Investments Rs. 402 million (43 million shares traded), Kotagala Plantations Rs. 179 million (28.9 million shares traded), LOLC Rs. 131 million (253,000 shares traded) and Eden Hotel Rs. 92.5 million (3.4 million shares traded). During the day 135 million share volumes changed hands in 21933 transactions.
Former top stock JKH maintained its recent uptick with share prices gaining 2 per cent to Rs. 134.25, though on thin volumes. Most valued and profitable Expolanka led to contributions to the index gain as well as in turnover.
Meanwhile, the US dollar to Sri Lankan rupee exchange rate was reported at Rs. 198.99 yesterday.
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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