Business
CSE exceeds 11,000 ASPI points in all-time record; buying interest in LOLC Group and Expolanka Holdings
By Hrian H.Senewiratne
CSE bounced back to close high after dipping in early morning trade on initial concerns over Budget 2022. It bounced back during the latter part of the day due to huge buying interest in LOLC Group and Expolanka Holdings counters yesterday.
This resulted in the stock market ending on a positive note with an attractive turnover and touching 11,000 points in the All Share Price Index, stock market analysts said.
The rebound was due to improved sentiments on the illiquid LOLC Group counters, such LOLC Finance, LOLC itself, Commercial Leasing and Finance (CLC) and LOLC Development Finance (NIFL), while Expolanka Holdings and Ceylon Tobacco Company (CTC) also boosted the index.
When the market opened, the benchmark All Share Price Index (ASPI) plunged by 398 points but spirited buying interest from investors enabled it to close on a positive note and it set a new record with the All Share Price Index surpassing 11,008.33 points and S and P SL20 going up by 22.54 points. Turnover was a high Rs. 10.2 billion with four crossings.
Those crossings were reported in Vallibel One, which crossed 456,000 shares to the tune of Rs 27.6 million, its share price was Rs 60.50, Chevron Lubricants 240,000 shares crossed for Rs 25.2 million, its shares traded at Rs 105, Melstacorp 400,000 shares crossed for Rs 22.8 million, its shares traded at Rs 57 and LOLC Holdings 26800 shares crossed for Rs 20.1 million, its shares traded at Rs 750.
In the retail market top six companies that mainly contributed to the turnover were; LOLC Finance Rs 3.6 billion (101 million shares traded), Expolanka Holdings Rs 1.2 billion (5.7 million shares traded), Browns Investments Rs 717 million (63 million shares traded), Sunshine Holdings Rs 525 million (17.6 million shares traded), Commercial Leasing and Finance Rs 487 million (six million shares traded) and Lanka Credit and Business Finance (LCB- Finance) Rs 345 million (69.3 million shares traded).
During the day heavy selling pressure was witnessed in large corporates due to the new surcharge tax and increase in VAT by three percent for banking and financial counters.
Yesterday, the US dollar rate was quoted at Rs 202.05, which was the controlled price of the Central Bank to prevent escalation of essential goods prices in the country.
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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