CSE indices dive; turnover stands at Rs. 6.7 billion

By Hiran H.Senewiratne

Both CSE indices moved downwards yesterday. The All Share Price Index went down by 305.8 points and S and P SL20 declined by 121 points. Turnover stood at Rs 6.7 billion with two crossings. Those crossings were reported in Hemas Holdings where ten million shares crossed for Rs. 720 million, its shares traded at Rs. 72 and Hayleys PLC 600,000 shares crossed for Rs. 63 million and its shares fetched Rs. 105.

In the retail market, top five turnover contributing companies were Expolanka Rs three billion (28 million shares traded), Browns Investments Rs 828 million (94.5 million shares traded), LOLC Holdings Rs 320 million (636,000 shares traded), Hayleys Rs 305.7 million (three million shares traded) and Royal Ceramic Rs 198 million (4.8 million shares traded). During the day 228 million share volumes changed hands in 38000 transactions.

Sarvodaya Development Finance (SDF), with roots in iconic social empowerment leader A.T. Ariyaratne, is going public with a ground-breaking initiative.

SDF is bracing for a listing on the Colombo Stock Exchange with a Rs. 1 billion issue, offering a 30.38 percent stake or 45.45 million shares at Rs. 22 each.

Sarvodaya Economic Enterprises Development Services (Gte) Ltd., currently owns a 51.85 per cent stake in SDF and post-IPO will hold 36 percent. Japan’s Gentosha Total Consulting Inc will reduce its stake from 13 percent to 9 percent.

Further, another IPO from ELL Consultants Limited will be announced soon. Under this IPO the company will issue 90.9 million shares with a share value of Rs. 2 to raise 181.8 million. The company is a leading consultancy firm which specializes in environmental and natural resources, corporate building and human resource development, industry engineering and special project management.

As of September 13, 2021, the current exchange rate of 1 US dollar is SL Rs. 200.193.This is an increase of 8.503016 percent (or +15.6885 LKR) compared to the same time last year (13 September 2020), when 1 US dollar equaled 184.505 Sri Lankan rupee.