Business
CSE market capitalization hits Rs. 3 trillion
By Hiran H.Senewiratne
CSE market capitalization crossed the Rs.3 trillion mark on January 4. Accordi-ngly, market capitalization at the end of the relevant trading session was Rs. 3,013,426,581,096.
Ceylon Tobacco Company (CTC) is the largest listed company in the CSE in terms of market capitalization with Rs.211 billion. Second is John Keells Holdings with a market capitalization of Rs.197 billion and third Dialog Axiata with a market capitalization of Rs.102 billion.
Market capitalization, or “market cap” is calculated by multiplying the total number of a company’s outstanding shares by the current market price of one share. Market cap is used to size up corporations and understand their aggregate market value.
Certain of the CBSL’s market friendly policy plans which were revealed by the Governor Prof. W.D Lakshman are seen as providing an impetus to the stock market.
Yesterday at the CSE, crossings were reported in Kelani Cables, which crossed 600,000 shares to the tune of Rs. 71.1 million, its shares trading at Rs. 118.50, Alumex three million shares crossed for Rs. 68.5 million and its shares traded at Rs. 22.50, TJLanka 977,000 shares crossed for Rs. 38.1 million, its shares fetching Rs. 39, Amana Takaful 2.6 million shares crossed for Rs. 29.5 million its shares traded at Rs. 11, JKH 149,000 shares crossed for Rs. 22.4 million with its shares trading at Rs. 150. Meanwhile, Vallibel One 750,000 shares crossed for Rs. 21.3 million, its shares traded at Rs. 28.50, Hayleys Fabrics 700,000 shares crossed for Rs. 20.2 million, its shares traded at Rs. 25.90 and Softlogic Capital five million shares crossed for Rs. 20 million, registering a share price of Rs. 4.
In the retail market top five companies that mainly contributed to the turnover were, Browns Investments Rs. 1.26 billion (249.7 million shares traded), Expolanka Rs. 634.4 million (19.7 million shares traded), ACL Cables Rs. 372 million (4.2 million shares traded), Alumex Rs. 240 million (10.3 million shares traded) and Vallibel One Rs. 193.9 million (6.6 million shares traded). All Share Price Index was up by 83.88 points and S and P SL20 up by 21.20. During the day 434.6 million share volumes changed hands in 39,000 transactions.
Further, ACL Cables will go for a subdivision of shares whereby one ordinary share will be subdivided into two ordinary shares. Under this, 119.5 million shares will be subdivided into 239.6 million shares. With this move ACL Cables’ share value appreciated by Rs. 3.40 or four percent. Its shares started trading at Rs. 84.10 and at the end of the day they moved up to Rs. 87.50.
Sri Lanka rupee was quoted stronger around 190/192 to the US dollar in the one month market on Tuesday, while bond yields were steady, dealers said. Sri Lanka rupee last closed at 191/193 levels on Monday. In the secondary securities market, bond yields were steady in dull trade dealers 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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