Browns Investments shares appreciate

By Hiran H.Senewiratne 

Shares of Browns Investments and its group appreciated in the CSE yesterday with the government’s announcement on considering special incentives for the financial city project in the Port City.  Browns Investments is one of the joint venture partner that   signed a memorandum of understanding with a  Chinese investor recently for a mixed development project. Its share prices moved up considerably yesterday, stock market analysts said.

Amid those developments Browns Investments contributed more than 43 percent to yesterday’s turnover, which came from crossings and retail market activities. Overall the market was positive and witnessed profit taking in S and P SL20 or bluechip companies, stock market analysts said.

Yesterday both indices showed mixed reactions. All Share Price Index went up by 57.90 and S and P SL20 went down by 5.49 points. The turnover stood at Rs. 7.2 billion with five crossings. Those crossings were reported in Browns Investments that crossed 202.3 million shares to the tune of Rs. 1.1 billion and its share price traded at Rs. 5.50, Melstacorp 3.1 million shares crossed for Rs. 169.3 million and its shares traded at Rs. 53.80, Ambeon Holdings 3.7 million shares crossed for Rs. 90.3 million, its shares traded at Rs. 24.50, HNB 500,000 shares crossed for Rs. 64.5 million; its shares trading at Rs. 129 and Hayleys 100,000 shares crossed for Rs. 42.9 million, its shares traded at Rs. 429.

In the retail market top five contributing companies were, Browns Investments Rs. 2.1 billion (378 million shares traded), Expolanka Rs. 378 million (11.9 million shares traded), Ambeon Holdings Rs. 196.5 million (7.9 million shares traded), Vallibel One  Rs. 171.6 million (5.5 million shares traded) and Piramal Glass Rs. 166.2 million (16.9 million shares traded). During the day 760 million share volumes changed hands in 39116 transactions. 

Sri Lanka rupee was quoted firmer around 189.50/191.50 to the US dollar in the one month market on Wednesday, while bond yields were flat, dealers said. Sri Lanka rupee last closed at 192/192.50 levels on Tuesday.