Business
ASPI hits 10,000 point all-time high; buying interest in most counters
By Hiran H. Senewiratne
Trading activities at the CSE were extremely bullish throughout yesterday mainly due to anticipated positive quarterly results from some corporates. Buying interest was witnessed in most counters in the market. Expolanka Holdings, Vallibel One, Kelani Cables and Watawala Plantations share prices significantly appreciated, market analysts said.
Amid those developments, the All-Share Price Index of the CSE ended at a record all time high, surpassing 10000 points and closing at the 10,074 .96 level. Consequently, both indices moved upwards; the All- Share Price Index moved up by 131.58 points and S and P SL20 rose by 46.89 points.
Turnover stood at Rs 6.81 billion with five crossings. Those crossings were reported in JKH, which crossed 650,000 shares to the tune of Rs 91 million, its shares traded at Rs 140, HNB (Non-Voting) 655,000 shares crossed for Rs 89.7 million, its shares traded at Rs 137, Expolanka Holdings 200,000 shares crossed for Rs 44.7 million, its shares traded at Rs 224, Hayleys PLC 300,000 shares crossed for Rs 30.9 million, its shares traded at Rs 103 and Amana Bank 7.3 million shares crossed for Rs 26.3 million, its shares fetching Rs 3.50.
In the retail market, five companies that mainly contributed to the turnover were; Expolanka Holdings Rs 2.3 billion (10.5 million shares traded), Vallibel One Rs 410 million (six million shares traded), Browns Investments Rs 393 million (36.8 million shares traded), ACL Cables Rs 279 million (five million shares traded) and LOLC Holdings Rs 275 million (425,000 shares traded). During the day 235 million share volumes changed hands in 42000 transactions.
During the day, price appreciations were noted in Expolanka, which appreciated by Rs 15.75 or eight percent. Its share price moved up to Rs 224.74 from Rs 209, thus contributing 70 points to the All -Share Price Index. Vallibel One share price appreciated by 9 percent or Rs 5.50. Its share price shot up to Rs 69.50 from Rs 64, Kelani Cables shares increased 24 percent or Rs 36.50. Its share price moved up to Rs 191.75 from Rs 155.25 and Watawala Plantations shares appreciated by 10 percent or Rs 5.90. Its share price moved up to Rs 66 from Rs 60.10.
Lanka Credit and Business Finance Ltd. (LCBF) is one of the newest entrants to the Non-Banking Financial Institution (NBFI) sector in Sri Lanka, having commenced operations in 2018 with the acquisition of a distressed entity under the supervision of the Central Bank of Sri Lanka (CBSL) and will go for an IPO. LCBF is to infuse a further Rs. 200 million via the IPO in the event of an under-subscription. Applications for the offer are being accepted now and the IPO will open today.
Yesterday, the US dollar rate was Rs 201.98, which was the controlled rate set by the Central Bank of Sri Lanka to prevent price escalation of essential consumer products.
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
