Business
Bourse’s bullish sentiment boosts indices; tile sector shares appreciate markedly
By Hiran H.Senewiratne
The CSE saw bullish sentiment among investors which drove both indices up amid a high Rs. 9 billion turnover level yesterday. The manufacturing sector companies, especially tile sector entities, noted a price appreciation while profit-takings were noted in plantations sector counters, stock market analysts said.
Tile sector entities experienced an exceptional price appreciation during the day due to import restriction of tiles and other related products. Those companies were Lanka Tiles, whose share price appreciated by 12.3 per cent or Rs 11.50. Its shares shot up to Rs 103.50 from Rs 92, Lanka Wall Tiles share prices appreciated by 12 percent or Rs 12.50. Its shares started trading at Rs 100.75 and at the end of the day they moved to Rs 113.25. Royal Ceramic share price appreciated by 7.3 per cent or Rs 4.30. Its share price appreciated to Rs 62.30 from Rs 58, Swisstek share price appreciated by 18 percent or Rs 6.30. Its shares started trading at Rs 35 at the end of the day they moved up to Rs 41.30.
Further, other manufacturing sector counters, such as, ACL and Expolanka also witnessed gains in their share prices at the stock market. ACL share prices appreciated by 8 percent or Rs 6.90. Its share price shot up to Rs 92.50 from Rs 85.60 and Expolanka contributed 52 points to the All- Share Price Index. Its share price appreciated by Rs 12 or five percent. Its share price rose to Rs 247.25 from Rs 235.25 at the end of the day’s trading.
The All Share Price Index gained 1 per cent or 171.95 points and the S&P SL20 gained by over 61.50 points. Trading of over 335 million shares boosted turnover to Rs. 9.1 billion with two crossings. Those crossings were reported in Lanka Reality Investments, which crossed 1.5 million shares to the tune of Rs 37.5 million and its shares traded at Rs 25 and Sampath Bank 600,000 shares crossed to the tune of Rs 33 million, its shares traded at Rs 65.
During the day top seven retail market contributors were; Browns Investments Rs 1.7 billion (132 million shares traded), Expolanka Holdings Rs 1.14 billion (4.6 million shares traded), Lanka Reality Investments Rs 650 million (24.8 million shares traded), Swisstek Rs 445 million (11.3 million shares traded), Royal Ceramic Rs 432 million (seven million shares traded), LOLC Finance Rs 383 million (14.2 million shares traded) and LOLC Holdings Rs 341 million (371,000 shares traded), During the day 58000 transactions occurred.
Net foreign selling on the previous day hit a new high of Rs. 934 million, pushing the year-to-date net outflow to over Rs. 49.5 billion. Last week, net outflow topped Rs. 1 billion as well. Further two IPOs were made in Myland and First Capital. Under the Myland IPO they will offer 6.2 million shares at a share price of Rs 12 to raise Rs 75 million. It will be listed in the Divisavi Board and its purpose is to acquire properties for real estate projects in the country. It will start offering from December 8, 2021.
Yesterday the US dollar was quoted at Rs 202.53, which was the controlled price of the Central Bank to control the price increase in essential imported items. Sri Lanka has recorded the highest food price inflation in the recent past. If the Central Bank doesn’t control the dollar rate, prices of essential items will further go up, 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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