Business
CSE sustains bullish trend: indices up
By Hiran H.Senewiratne
CSE sustained its upward trend yesterday from a position of strength as both indices gained on healthy turnover. At the beginning, the market witnessed a downward trend and in the first half of the session profit- taking was witnessed in the previous day’s bull- running companies. The banking sector’s positive momentum continued like on the previous day but did not witness any substantial gains, stock market analysts said.
It is said the market returned to positive territory as both the indices resumed their upward trajectory on the back of price gains in index heavy NIFL and LOLC, while banking sector stocks witnessed a significant pickup in prices during the session, indicating an improved sentiment in the sector.
Net foreign outflow crossed the Rs. 45-billion-mark year-to-date with Rs. 101 million worth of net selling on the previous day. Estimated net foreign selling topped in Dialog at Rs. 40.6 million, while net buying topped in Royal Ceramics at Rs. 14 million.
Both indices moved upwards. The All- Share Price Index went up by 44.55 points and S and P SL20 rose by 17.01 points. Turnover stood at Rs 3.5 billion with two crossings. Those crossings were reported in Amaya Leisure, which crossed 1.3 million shares to the tune of Rs 33.8 million; its shares traded at Rs 26 and Hayleys 200,000 shares crossed for Rs 20.1 million, its shares traded at Rs. 100.50.
In the retail market top five companies that mainly contributed to the turnover were; Expolanka Holdings Rs 602 million (3.1 million shares traded), Browns Investments Rs 371 million (35.1 million shares traded), Sampath Bank Rs 270 million (4.6 million shares traded), Pan Asia Bank Rs 160 million (8.5 million shares traded) and Amana Bank Rs 142 million (33.7 million shares traded). During the day 239 million share volumes changed hands in 35000 transactions.
Amid those developments new IPOs are in the pipeline. The Ex-Pack Corrugated Carton Limited IPO will likely open on October 22, 2021. The company will issue 83.3 million shares at a price of Rs. 26 to raise Rs 699 million. This share issue would be 25 percent of the total shareholding. Purpose of this IPO is to raise funds to set up a manufacturing facility. Total estimated cost for the facility would be Rs 2.9 billion. Apart from the Rs 699 million IPO, the company will look for other avenues to collect funds from internal funds, Rs 602 million, investment property sales Rs 450 million and Rs 1.2 billion from debt financing.
Yesterday, the Sri Lankan rupee was quoted against the US dollar at Rs 199.40. This was a controlled price set by the Central Bank to stabilize price escalation in essential goods.
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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