Business
Expolanka Holdings and Lanka IOC contribute to bulk of CSE turnover
By Hiran H. Senewiratne
The CSE was volatile throughout yesterday and ended with a negative trend due to profit- takings. Shares edged- up in mid- market trade, pushed up by Expolanka, analysts said.
“Bulk of the turnover, approximately 70 percent of the revenue contributions, were from Expolanka and Lanka IOC, analysts said. Expolanka had generated Rs. 670 million in turnover within the first hour of trade.
Due to foreign buying, Expolanka Holdings has pushed net inflows to more than Rs. 5.4 billion so far in December and to more than Rs. 23 billion year to date, stock market analysts said.CSE saw Rs. 1.6 billion in net inflows thanks to Rs. 1.5 billion worth net buying into Expolanka Holdings, market analysts said.
Amid those developments both indices moved downwards. The All -Share Price Index went down by 56.8 points and S and P SL20 declined by 34.9 points. Turnover stood at Rs 2.3 billion with three crossings. Those crossings were reported in Expolanka Holdings, which crossed 2.5 million shares to the tune of Rs 514 million, its shares traded at Rs 210, Dipped Products one million shares crossed to the tune of Rs 28.5 million, its shares traded at Rs 28.50 and Lanka IOC 100,000 shares crossed for Rs 24.5 million, its shares fetched Rs 245.
In the retail market, the top seven companies that mainly contributed to the turnover were; Lanka IOC Rs 485 million (two million shares traded), Expolanka Holdings Rs 214 million (one million shares created), Browns Investments Rs 116 million (14.5 million shares traded), First Capital Treasuries Rs 104 million (3.9 million shares traded), First Capital Holdings Rs 79.9 million (2.3 million shares traded), LOLC Finance Rs 69 million (8.1 million shares traded) and Richard Pieris Rs 50.7 million (1.8 million shares traded).
The transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) while the sector index gained 0.36 per cent. The share price of Expolanka Holdings increased by 75 cents to close at Rs. 207.50.
The Energy sector was the second highest contributor to the market turnover (due to Lanka IOC) while the sector index increased by 4.89 per cent. The share price of Lanka IOC gained Rs. 12 (5.26 per cent) to close at Rs. 240.25.It is said that the share price of LOLC Finance recorded a gain of 40 cents to close at Rs. 8.40. The share price of Browns Investments appreciated by 10 cents to close at Rs. 8.20. During the day 72.4 million share volumes changed hands in 17000 transactions.Yesterday the Central Bank- announced US dollar exchange rate was in the Rs 371.77 range.
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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