Hayleys purchases 27.5 million shares of Unisyst Engineering

Trading in Expolanka amounts to 42% of total turnover

By Hiran H. Senewiratne

Advantis Projects Engineering (Pvt) Limited, a subsidiary of Hayleys Group, has purchased 27.5 million shares belonging to Unisyst Engineering Plc for a monetary consideration of Rs 250 million at a share price of Rs 9.10. Unisyst Engineering is also one of the subsidiary companies of Hayleys Group. This transaction was an internal transfer executed by way of a crossing on the previous day, stock market analysts said.

Apart from that CSE trading activities rebounded strongly yesterday with sharp gains by the indices amidst healthy turnover touching Rs 6 billion.

At the beginning of trading, the market witnessed bullish and Expolanka and LOLC Group counters witnessed some strong buying and around 12.30 pm buying interest was seen in other favourite counters. Therefore, most of those investor favourite counters witnessed more than 5 percent price appreciation.

The Main three companies that witnessed price appreciation were in Expolanka, which increased its price by 16 percent or Rs 14. Its price moved upto Rs 99.50 from Rs 85.60 and its contribution to the turnover were more than 40 percent.. Other two companies were reported in LOLC Finance and Commercial Leasing. LOLC Finance share price appreciated by 25 percent Rs 2 and its price increased to Rs 10 from Rs 8 and Commercial Finance also noticed a 25 percent or Rs 2.90 price increase from Rs 11.80 to Rs 14.70.

 Amid those developments both indices moved upwards. All Share Price Index up by 231.9 points and S and P SL20 up by 59.4 points. Turnover stood at Rs 6.3 billion with a single crossing. The crossing was reported in Hayleys Plc, which crossed 300,000 shares to the tune of Rs 38.55 million and its share price traded at Rs 77.70.

Meanwhile, according to JKSB, trading in Expolanka amounted to 42% of total turnover.

Top seven companies that mainly contributed to the turnover were Expolanka Holdings Rs 2.67 billion (28 million shares traded), Browns Investments Rs 574.1 million ( 574.1 million shares traded), LOLCC Finance Rs 301.1 million (31.6 million shares traded), LOLC Holdings Rs 262.2 million (158,000 shares traded), Hayleys Fabrics Rs 251.6 milion (9.1 million shares traded), Dipped Products Rs 235 million ( 4.2 million shares traded) and Royal Ceramic Rs 193 million (4.8 million shares traded). During the day 289.1 million share volume changed hands in 48,000 transactions.