Business
Expolanka Holdings-linked share transaction boosts foreign inflows
By Hiran H. Senewiratne
The CSE fell 0.24 per cent in mid-morning trade yesterday while mixed reactions were noted in both indices due to profit- takings by investors. However, net foreign inflows reported year to date were more than Rs 5.7 billion. The company with the largest market capitalization, Expolanka Holdings, saw the bulk of its shares being bought by its main shareholder S.G Holdings, which was a foreign entity, and this was the reason for increasing foreign inflows to the market, stock market analysts said. The main All- Share Price Index edged down 11.3 points and the S and P SL20 rose by 1.2 points.
Turnover stood at Rs 5.3 billion with four crossings. Those crossings were reported in Expolanka Holdings, which crossed 7.5 million shares to the tune of Rs 1.7 billion, its shares traded at Rs 230, Royal Ceramic four million shares crossed to the tune of Rs 160 million and its shares traded at Rs 40.10, Citizens Development Business Finance 660,000 shares crossed to the tune of Rs 130 million, its shares fetched Rs 200 and Melstacorp 500,000 shares crossed to the tune of Rs 28.7 million, its shares fetched Rs 57.50.
In the retail market top seven companies that mainly contributed to the turnover were Lanka IOC Rs 292 million (1.1 million shares traded), ACL Cables Rs 275.8 million (1.9 million shares traded), Expolanka Holdings Rs 275 million (1.2 million shares traded), Royal Ceramic Rs 193 million (4.7 million shares traded), Lankem Development Rs 191 million (1.7 million shares traded), JKH Rs 185 million (1.2 million shares traded) and First Capital Holdings Rs 164 million (11.3 million shares traded). During the day 136 million share volumes changed hands in 37000 share transactions.
During the day Manufacturing sector share prices appreciated and the Lanka IOC share price also appreciated because a much awaited petroleum price revision did not take place the previous night. It is said high net worth and institutional investor participation was noted in Expolanka Holdings, Sampath Bank and Richard Pieris & Company. Mixed interest was observed in JKH, Lanka IOC and ACL Cables, while retail interest was noted in SMB Leasing, HNB Finance and Browns Investments.
The Capital Goods sector was the top contributor to market turnover (due to JKH and ACL Cables), while the sector index gained 4 per cent. The share price of JKH gained Rs. 12 (8.63 per cent) to close at Rs. 151. The share price of ACL Cables appreciated by Rs. 8.50 (10.66 per cent) to close at Rs. 88.20.The Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings), while the sector index decreased by 0.33 per cent. The share price of Expolanka Holdings decreased by 75 cents (0.33 per cent) to close at Rs. 226.25.
Lanka IOC and Sampath Bank were also included amongst the top turnover contributors. The share price of Lanka IOC moved down by Rs. 5 (1.90 per cent) to close at Rs 257.75. The share price of Sampath Bank recorded a gain of Rs. 4.30 (11.81 per cent) to close at Rs 40.70.Separately, Kelani Valley Plantations announced a first interim cash dividend of Rs. 2.50 per share.Yesterday, the Central Bank announced the US dollar buying rate as Rs 358.94 and selling rate as Rs 369.91. Data showed that commercial banks offered dollars for telegraphic transfers at between Rs 369.45 and Rs 370 for small transactions.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
