Business
CSE’s poultry sector counters see price appreciations
By Hiran H.Senewiratne
The CSE yesterday closed on a positive note mainly due to the high market cap but illiquid stocks of the LOLC Group companies, especially Commercial Leasing and Finance and LOLC Finance, share price appreciations during the latter part of the day. They had gone through negative sentiments at the beginning, stock market analysts said.
LOLC Group companies’ share prices in Commercial Leasing and Finance and LOLC Finance appreciated without a reason but exceptional price appreciation was noted in poultry sector counters by 10 per cent, namely Bahira, Grain Elevators and Three Acre Farms.
Bahira Farms share price appreciated by 12 per cent or Rs 28. Its share price shot up to Rs 258.27 from Rs 230.25. Grain Elevators share price increased by 10 per cent or Rs 11.25. Its shares moved up to Rs 128 from Rs 116 and Three Acre Farms’ share price appreciated by 13 per cent or Rs 28.75. Its share price moved to Rs 254.25 from Rs 226.
Amid those developments both indices moved upwards. All Share Price Index went up by 157 points, and the S&P SL20 rose by 35.9 points. Turnover reached Rs. 5.5 billion, while volume was very high at 490 million shares with several crossings.
Those crossings were reported in JKH, which crossed one million shares to the tune of Rs 145 million and its shares traded at Rs 145, Renuka Hotel PLC 880,000 shares crossed for Rs 79.9 million, its shares traded at Rs 90.80. Durdans Hospitals 400,000 shares crossed for Rs 54.8 million, its shares traded at Rs 137, Brown and Company 100,000 shares crossed for Rs 30 million and its shares traded at Rs 300, Renuka Holdings 1.2 million shares crossed for Rs 21.9 million, its shares fetched Rs 17.30 and Dipped Products 400,000 shares crossed for Rs 20.2 million, its shares traded at Rs 50.50.
In the retail trade, the top seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 759 million (2.4 million shares traded), Browns Investments Rs 518 million (36.5 million shares traded), LOLC Finance Rs 377 million (16.9 million shares traded), Commercial Leasing and Finance Rs 238 million (7.9 million shares traded), Tokyo Cement (Voting) Rs 178 million (2.9 million shares traded), Expack Corrugated Cartons Rs 175 million (7.4 million shares traded) and Tokyo Cement (Non Voting) Rs 173 million (3.4 million shares traded). .
It is said that following a strong first half boosted by a steady rise in Expolanka, the ASPI slipped lower and eventually closed on a positive note due to price appreciations in the LOLC Group of companies. Activity continued at healthy levels with turnover led by retail and crossings.
Further, high net worth and institutional investor participation was noted in poultry sector counters. Mixed interest was seen in Tokyo Cement voting and non-voting and Browns Investments Group of companies. During the day 490 million shares volumes changed hands in 41000 share transactions.
Yesterday, the US dollar rate quoted at Rs 201.83, which was the Central Bank controlled price. The Central Bank imposed a Rs 203 controlled price to prevent price escalations of essential items due to appreciation of the dollar against the rupee.
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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