Business
Banking sector counters show gains amid bourse’s fluctuating fortunes
By Hiran H.Senewiratne
CSE trading activities were positive at the beginning of the session and during the middle of the session strong profit- takings were noted in blue chip counters but the bourse later turned negative yesterday. However, banking sector counters gained, stock market analysts said.
Amid those developments both indices moved downwards. The All -Share Price Index went down by 163 points and S and P SL20 declined by 23.5 points. Turnover stood at Rs 8.8 billion with two crossings. Those two crossings were reported in LOLC Finance, where one million shares crossed for Rs 28 million, its shares traded at Rs 28 and Softlogic Holdings 350,000 shares crossed to the tune of Rs 21 million, its shares traded at Rs 60.
In the retail market, top seven companies that mainly contributed to the turnover were, Browns Investments Rs 1.1 billion (64 million shares traded), Sunshine Holdings Rs 824 million (2.6 million shares traded), Expolanka Holdings Rs 755 million (1.9 million shares traded), Vallibel One Rs 536 million (3.9 million shares traded), LOLC Holdings Rs 342 million (248,000 shares traded), Lanka Aluminum Rs 324 million (8.8 million shares traded) and Watawala Plantations Rs 263 million (1.4 million shares traded). During the day 362 million share volumes changed hands in 67000 transactions.
During the day, a few companies’ share prices appreciated exceptionally. Those were, Lanka Aluminum share price appreciated by 20 per cent or Rs 6.30. Its share price shot up to Rs 37.40 from Rs 31.10, Watawala Plantations share price appreciated by eight percent or Rs 30.75. Its share price shot up to Rs 183.50 from Rs 169.75 and Amana Bank share price appreciated by 80 cent or Rs 19 per cent. Its share price appreciated to Rs 5.10 from Rs 4.30.
Meanwhile, high net worth investor Dr. T. Senthilverl has increased his stake in Amana Bank PLC to 10 per cent through Senthilverl Holdings (Pvt) Ltd., likely posting himself among the top three shareholders of the Islamic bank.
Senthilverl Holdings last Friday purchased 176.84 million shares of the bank at Rs.3.80 and Rs.4.40 per share.
Prior to the purchase, Senthilverl Holdings held 92.27 million shares of Amana Bank. However, as of 30th September, Senthilverl Holdings didn’t appear among the top twenty shareholders of Amana Bank.
Yesterday the US dollar was quoted at Rs 202.05, which was the Central Bank controlled price. The actual floating rate would be Rs 250 per US dollar, market sources said.
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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