Business
DIPD shares prove a puller
By Hiran H.Senewiratne
Fully integrated rubber glove manufacturer and exporter, Dipped Products PLC (DIPD), is enjoying an exceptional year due to the COVID-19 pandemic, with the half-yearly after-tax profit soaring by 545 percent to Rs. 2.1 billion compared to 2019, market sources said.Pre-tax profit was up 479 percent to Rs. 2.6 billion, while net profit attributable to equity holders of the parent company was up 377 percent to Rs. 1.9 billion. DIPD being a Hayleys Group subsidiary, other related listed subsidiary companies’ share prices also moved up, stock market analysts said
In the meantime, Hayleys Group share prices increased by Rs. 56.90 or 17 percent. Its shares started trading at Rs. 335.20 and at the end of the day they moved up to Rs. 392.10. Other subsidiary company, Haycarb’s share price moved up by 25 percent or Rs. 94.80. Its shares started trading at Rs. 379.40 and at the end of the day it moved up to Rs. 474.20.
Amid those developments both indices moved upwards, i.e., the All Share Price Index was up by 98.20 points and S and P SL20 up by 30.43 points. The turnover stood at Rs. 4.28 billion with four crossings. Those crossings were reported in Vallibel One, 3.5 million shares crossed to the tune of Rs. 78.75 million, its share price traded at Rs. 22.50, Commercial Bank one million shares crossed for Rs. 73.5 million, its shares traded at Rs. 73.50, Hayleys 131.4 million shares crossed for Rs. 49.3 million, per share value Rs. 375 and Hemas Holdings 577,000 shares crossed for Rs. 40.4 million, its per share value being Rs. 70.
In the retail market top five contributors to the turnover were Dipped Products Rs. 588 million (1.57 million shares traded), Expolanka Rs. 560 million (22.7 million shares traded), Hayleys Rs. 388.9 million (1.04 million shares traded), Browns Investments Rs. 220.4 million (87 million shares traded) and Haycarb Rs. 185.7 million (424,000 shares traded). During the day 217.7 million share volumes changed hands in 32020 transactions.