Business
Commercial Leasing and Finance contributes 154 points to bourse
By Hiran H.Senewiratne
CSE trading activities kicked off yesterday with a market downturn but later indicated an exceptional interest in Commercial Leasing and Finance stocks. Consequently, the All-Share Price Index shot up to a comfortable territory, stock market analysts said.
The market began the penultimate month of 2021 on a negative note amid lacklustre investor sentiment triggered by political undercurrents and external concerns. But due to the low interest regime people are quite enthusiastic to invest in stocks. However, yesterday, Commercial Leasing and Finance being the main performer in the market, contributed 154 points to the stock market. Its share prices increased by 22 percent or Rs 10.80. Its shares started trading at Rs 48.20 and at the end of the day they shot up to Rs 59. Since the company is an index heavy entity, its stocks are sought after in the stock market for trading purposes, market analysts said.
Amid those developments, the All Share Price Index went up by 139.59 points and the S&P SL20 Index rose by 6.08 points, while turnover was Rs. 4.4 billion involving 117 million shares and the number traded was 34000. During the day three crossings were reported and those crossings were, Melstacorp 6.5 million shares crossed to the tune of Rs 370.5 million, its shares traded at Rs 57, Elpitiya Plantations 500,000 shares crossed to the tune of Rs 52.5 million, its shares traded at 105 and Sunshine Holdings one million shares crossed for Rs 27 million, its shares fetching Rs 27.
In the retail market top five companies that mainly contributed to the turnover were; Expolanka Holdings Rs 1 billion (five million shares traded), Commercial Leasing and Finance Rs 396 million (7.2 million shares traded), Browns Investments Rs 215 million (20 million shares traded), Royal Ceramic Rs 166 million (2.9 million shares traded) and Central Industries Rs 163 million (one million shares traded).
The lacklustre investor interest or their being on the sidelines was despite the release of impressive corporate earnings so far. Nevertheless, macro concerns remain; hence, less enthusiasm yesterday, though some believe there will be a fresh round of buying ahead of the presentation of budget 2022.
It said high net worth and institutional investor participation was noted in selected stocks, such as, Sampath Bank and Commercial Bank. Mixed interest was observed in Expolanka Holdings, Royal Ceramics and Commercial Leasing and Finance.
Yesterday the US dollar was quoted at Rs 202.49 as per the Central Bank controlled price to prevent escalation of prices in essential goods.
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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