Business
CSE turnover hits Rs. 5 billion mark, driven by Agstar crossings
By Hiran H. Senewiratne
Stock market turnover touched the Rs 5 billion mark yesterday, mainly driven by two crossings that occurred in Agstar PLC, which is a subsidiary of the Browns Group. According to market sources, the crossing was an internal transaction between Agstar and Browns Investments, worth over Rs 4 billion.
Amid those developments, the market began on a positive note but during the middle sessions it turned marginally negative. The Agstar crossing put the stock market into a healthy position. Both indices moved downwards. The All Share Price Index went down by 8.6 points and S and P SL20 3.2 declined by 3.2 points. Turnover stood at Rs 5 billion with five crossings.
Those crossings were reported in Agstar, which crossed 269 million shares to the tune of Rs 4 billion; its shares traded at Rs 15, Agstar (Non- Voting) 17.4 million shares crossed for Rs 209 million and its shares traded at Rs 12, Sampath Bank 2 million shares crossed for Rs 142 million; its shares sold at Rs 71, HNB 623,000 shares crossed to the tune of Rs 102 million; its shares fetched Rs 164 and Agrapathana Plantations 8.2 million shares crossed for Rs 62.1 million; its shares traded at Rs 7.60.
In the retail market top seven companies that mainly contributed to the turnover were; Sampath Bank Rs 65.7 million (926,000 shares traded), Expolanka Holdings Rs 47.5 million (339,000 shares traded), Access Engineering Rs 38.3 million (1.9 million shares traded), Browns Investments Rs 24 million (5.1 million shares traded), Hayleys Fabrics Rs 22.3 (554,000 shares traded), Agstar Rs 19.5 million (2.2 million shares traded) and Agarapathana Plantation Rs 19.2 million (2.4 million shares traded). During the day 323 million share volumes changed hands in 6450 transactions.
It is said the high net worth and institutional investor participation was noted in Kotagala Plantations and JKH. Mixed interest was observed in Expolanka Holdings, Sampath Bank and Commercial Bank while retail interest was noted in Browns Investments, Industrial Asphalts and Alumex.
The Food, Beverage & Tobacco sector was one of the major contributors to the market turnover (due to Agarapathana Plantations).
The Banking sector was the second highest contributor to the market turnover (due to Sampath Bank and HNB Bank) while the sector index decreased. The share price of Sampath Bank moved down by 20 cents to Rs. 71. The share price of HNB Bank closed flat.
Yesterday, the rupee opened at Rs 326.90/327.00 to the US dollar, from 326.90/327.00 the previous day, dealers said.
Bond yields were steady. A bond maturing on 01.08.2026 was quoted at 13.70/80 percent from 13.75/85 percent. A bond maturing on 15.01.2027 was quoted at 13.80/90 percent from 13.75/85 percent.
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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