Business
Corporate quarterly results impact CSE positively
By Hiran H.Senewiratne
CSE remained buoyant with healthy turnover and gains in indices, though small in comparison to recent sessions. Yesterday the market was positive at the end of the day’s trading but during the first half of the day profit- takings were noted specially among previous day’s bull runners. But subsequently the market turned positive due to favourable quarterly results in most companies, stock market analysts said.
But tile sector counters showed some heavy buying interest due to import restrictions on tiles. As a result, the demand for local tile suppliers has gone up. Amid those developments both indices showed an upwards trend.
The All-Share Price Index gained 30.7 more points or 0.2 per cent and the S&P SL20 rose by 24.29 points or 1 per cent. Turnover was Rs. 4.9 billion with six crossings. Those crossings were reported in HNB, which crossed 1.2 million shares to the tune of Rs 192 million and its shares traded at Rs 160, Commercial Bank 600,000 shares crossed for Rs 53.4 million, its shares traded at Rs 89, Chevron Lubricants 375,000 shares crossed for Rs 43.1 million, its shares traded at Rs 115, Sampath Bank 500,000 shares crossed for Rs 28.5 million, its shares fetched Rs 57, Royal Ceramic 500,000 shares crossed for Rs 28 million, its shares traded at Rs 56 and Lanka IOC one million shares crossed for Rs 26.5 million, its shares fetched Rs 26.50.
In the retail market, five companies that mainly contributed to the turnover were, Expolanka Holdings Rs 1.1 billion (5.2 million shares traded), JKH Rs 342 million (2.3 million shares traded), Chevron Lubricants Rs 317 million (2.7 million shares traded), Royal Ceramic Rs 217 million (4.7 million shares traded) and Browns Investments Rs 248 million (22.5 million shares traded). During the day 121 million share volumes changed hands in 34000 transactions.
It is said that the ASPI managed to end in positive territory for the eighth straight session after overcoming a bout of volatility during the day. Further, high net worth and institutional investor participation was noted in Distilleries. Mixed interest was observed in Expolanka Holdings, Royal Ceramics and ACL Cables, while retail interest was noted in Browns Investments, Kotagala Plantations and SMB Leasing non-voting.
Yesterday, the US dollar was quoted at Rs 200.65, which was a controlled price set by the Central Bank.
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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