Expolanka records 100 per cent price appreciation

By Hiran H.Senewiratne

Expolanka, the largest listed company in the CSE, recorded a share price appreciation of 100 per cent during the last two weeks from Rs. 50 to Rs. 100. Expolanka accounted for almost 50 per cent of the turnover yesterday by contributing 98 points to the All Share Price Index. Its share price appreciated by 21 percent or Rs. 20.75. That is, its share price rose to Rs. 121.25 from Rs. 100.50.

Amid those developments, both indices moved upwards. All Share Price Index went up by 267.66 points and S and P SL20 rose by 96.52 points. Turnover stood at Rs. 10.8 billion with two crossings. Those crossings were reported in BPPL Holdings, which crossed five million shares to the tune of Rs. 104.5 million, its share price was Rs. 20.90 and Sanasa Development Bank two million shares crossed for Rs. 100 million, its shares traded at Rs. 50.

In the retail market, five companies that mainly contributed to the turnover were, Expolanka Rs. 4 billion (34.3 million shares traded), Browns Investments Rs. 1.14 billion (154.7 million shares traded), LOLC Rs. 750 million (1.5 million shares traded), Royal Ceramic Rs. 671 million (16 million shares trade) and Hayley’s Fabrics Rs. 340 million (9.9 million shares traded). During the day, 399 million share volumes changed hands in 64718 transactions. Top companies that witnessed a significant appreciation of their shares were LOLC and Browns Investments. LOLC and Browns Investments contributed 35 points and 16 points respectively to the All Share Price Index.

Listed companies 2Q2021 earnings have risen by 117 percent to Rs. 75.6 billion, primarily driven by the lower base effect as the corresponding quarter of the previous year was impacted by the initial COVID-19 induced lockdowns. Capital Alliance said listed entities benefitted from multiple factors to enjoy such high growth.