Business
Banking sector transactions trigger bullish spurt in stock market
By Hiran H. Senewiratne
Though it started off on a negative note yesterday the stock market picked up steam towards the latter part of the day and turned extremely bullish due to notable activities in the banking sector.
Amid those developments both indices moved upwards. The All Share Price Index went up by 114 points, while S and P SL 20 rose by 64.81 points. Turnover stood at Rs 2.1 billion with four crossings. Those crossings were reported in NTM, where 200,000 shares crossed to the tune of Rs 22 million and its shares traded at Rs 110, Pan Asia Bank 1million shares crossed for Rs 21.7 million; its shares traded at Rs 21.70, NTB 300,000 shares crossed for Rs 21.15 million; its shares sold at Rs 70.50 and JKH 102,000 shares crossed to the tune of Rs 20.1 million; its shares fetched Rs 198.
In the retail market top five companies that mainly contributed to the turnover were, Commercial Bank Rs 122 million (1.2 million shares traded), CIC Holdings Rs 107 million (1.2 million shares traded), JKH Rs 104 million (527,000 shares traded), Pan Asia Bank Rs 102 million (4.6 million shares traded) and Sampath Bank Rs 97 million (1.2 million shares traded). During the day 63.6 million share volumes changed hands in 14000 transactions.
Further, it is said that a 11.97 percent stake of Ambeon Capital was bought by ARCASIA Investments and Trading (Pvt) Ltd.
“ARCASIA Investments & Trading (Pvt) Ltd has purchased 120,000,000 shares of Ambeon Capital which amounts to 11.97 percent of the issued shares of the Company on 1st April 2024, sources said.
Early this week, Ambeon Capital, formerly Taprobane Holdings, saw a total of 274,853,407 shares changing hands for Rs 1.5 billion.
The shares were sold by Seylan Bank Plc/ARRC Capital (Pvt) Limited (Collateral) and Seylan Bank Plc/ARRC Capital (Pvt) Limited, which together disposed of 274,000,000 shares of Ambeon Capital Plc; amounting to 27.32 percent of the issued shares of Ambeon.
Yesterday the rupee opened at Rs 299.80/90 to the US dollar in the spot forex market, stronger from Rs 299.95/300.05 the previous day, dealers said, while bond yields were broadly steady.
A bond maturing on 15.12.2026 was quoted at 11.35/40 percent from 11.30/40 percent.
A bond maturing on 15.09.2027 was quoted stable at 11.90/12.00 percent.
A bond maturing on 15.12.2028 was quoted stable at 12.10/20 percent.
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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