Business
Expolanka Holdings emerges top player; contributes 130 points to ASPI
By Hiran H. Senewiratne
The CSE bounced back yesterday as investor sentiment improved, though turnover was relatively low in comparison to recent highs. It was noted throughout the day that index heavy Expolanka Holdings was the top player in the market by contributing 130 points to the All- Share Price Index, stock market analysts said.
Yesterday Expolanka Holdings’ shares recorded an 8 per cent or Rs 26 price appreciation/gain. Its shares started trading at Rs 312.50 and at the end of the day they shot up to Rs 338.50. But an exceptional price appreciation was noted in Lanka Milk Food PLC, due to the government announcement of imported milk powder price restrictions due to the acute Forex crisis in the country. Its share price moved up or appreciated by Rs 39.50 or 18 per cent. Its price yesterday shot up to Rs 264.50 from Rs 225.
During the day manufacturing sector counters, especially tile sector counters and investor favorite blue chip companies, such as Expolanka, LOLC Group of companies indicated gains.
Both indices were up and were positive The All- Share Price Index gained by 2 per cent or 215.05 points and the S&PSL20 improved by two per cent or 88.74 points. Turnover amounted to Rs. 6.9 billion, involving 350 million shares with four crossings.
Those crossings were reported in HNB, which crossed 260,000 shares to the tune of Rs 36.9 million and its shares traded at Rs 142, Melstacorp 600,000 shares crossed for Rs 34.2 million, its shares trading at Rs 57, Sampath Bank 638,000 shares crossed for Rs 34.1 million, its shares traded at Rs 53.50 and Sanasa Development Bank 450,000 shares crossed for Rs 20.7 million; its shares fetching Rs 46.
In the retail market, the companies that mainly contributed to the turnover were; Expolanka Rs 1.2 billion (3.8 million shares traded), Browns Investments Rs 438 million (30.4 million shares traded), Royal Ceramic Rs 314 million (4.3 million shares traded), LOLC Finance Rs 309 million (311,000 shares traded), Hayleys PLC Rs 254 million (2.2 million shares traded) and Commercial Leasing and Finance Rs 226 million (6.8 million shares traded). During the day 350 million share volumes changed hands in 51,000 share transactions.
Yesterday, the US dollar was quoted at Rs 202.90, which is the controlled price of the Central Bank to prevent escalations in prices of essential imported items. The controlled price set by the Central Bank is Rs 203 per US dollar. This artificial price control will have long term economic repercussions. However, in the outside market the US dollar rate touched Rs 250, market sources 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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