Business
Stock Market investors keep cool despite foreign reserves hit more than USD 3 bn
By Hiran H.Senewiratne
Trading activities on the Colombo Stock Exchange (CSE) yesterday showed some positivity as Central Bank Governor Ajith Nivard Cabraal announced that foreign reserves level has reached more than US $ three billion, stock market analysts said.
Although the entire market did not bustle with the statement, plantation sector counters showed significant price gain with the government’s announcement on releasing chemical fertilizer to the plantation sector soon, market analysts said.
Those plantation companies that indicated gains were Maskeliya Plantations, which recorded 25 percent or Rs 3.90 gain. Its share price startered trading at Rs 15.60 at the end of the day it moved to Rs 19.50, Bogawantalawa Plantations share price appreciated by 25 percent or Rs 6.10. Its share price startered trading at Rs 24.40 and at the end of the day it moved to Rs 30.50. Udupussalawa Plantations share price appreciated by 25 percent or Rs 16.40. Its share price startered trading at Rs 65.60 at the end of the day it moved to Rs 82, Hapugastenne Plantations share price appreciated by 25 percent or Rs 10.50. Its share price shot up to Rs 52.70 from Rs 42.20, Elpitiya Plantations share price appreciated by 14 percent or Rs 16.50. Its share price shot upto Rs 134.75 from Rs 118.25, Madulsima Plantations share price appreciated by 25 percent or Rs 2.90. Its share price shot upto Rs 14.70 from Rs 11.80, Kelanivalley Plantations share price gained by 10 percent or Rs 8.30. Its share price shot upto Rs 90.30 from Rs 82.50 and Watawala Plantations share price appreciated by six percent or Rs 6.75.
Further, the new entrant to the stock market hSenid share price also showed significant gain of Rs 5.30 or 23 percent . Its share price startered trading at Rs 23 at the end of the day it shot upto Rs 28.30.
Amid those developments both indices moved upwards. All Share Price Index up by 7.48 points and S and P SL20 up by 8.12 points. Turnover stood at Rs 5.8 billion with four crossings. Those crossings were reported in Melstacope , which crossed eight million shares to the tune of Rs 440 million and its share price traded at Rs 55, Commercial Bank 5.3 million shares crossed for Rs 416 million and its share price traded at Rs 78.50, Sinhaputhra Finance 4.9 million shares crossed for Rs 115 million and its share price traded at Rs 24 and Royal Ceramic 575,000 shares crossed for Rs 42.5 million and its share price traded at Rs 74.
In the retail market top seven companies that mainly contributed to the turnover were SMB Leasing Rs 326 million (147 million shares traded), SMB Leasing (Non Voting) Rs 292 million (452 million shares traded), Expolanka Holdings Rs 291 million (780,000 shares traded),hSenid Rs 280 million (10.4 million shares traded), Browns Investments Rs 278 million (19.5 million shares traded), Elpitiya Plantations Rs 181 million (1.3 millions shares traded) and Lanka IOC Rs 177 million (2.4 million shares traded). During the day 809 million share volume changed hands in 51,000 share transactions of the day.
It was said that high net worth and institutional investor participation was noted in Citizens Development Business Finance, Melstacorp and Commercial Bank. Mixed interest was observed in Lanka IOC, Expolanka Holdings and Renuka Holdings whilst retail interest was noted in SMB Leasing (Voting) and( Non-Voting). Separately Hayleys Fabric announced an interim dividend of 40 cents per share.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
