Business
Index-heavy companies’ share prices down
By Hiran H.Senewiratne
CSE market activities were negative yesterday with the index heavy LOLC share prices plummeting by 18 percent. The reason being that investors were slightly taken aback at LOLC quarterly results which did not prove exceptionally good. As a result, 87 negative points were contributed to the All Share Price Index yesterday, stock market analysts said.
Apart from LOLC, several index heavy companies’ share prices went down, including Vallibal One, whose shares dropped by 10 percent and it contributed 20 negative points. Browns Investments reported a 9 percent drop and it contributed 20 negative points, Expolanka witnessed a five percent drop, contributing 17 negative points.
Amid those developments, both indices moved downwards. The All Share Price Index went down by 326.36 points and S and P SL20 declined by 126.05 points. Turnover stood at Rs. 4.28 billion with three crossings. Those crossings were reported in Sampath Bank, where 500,000 shares crossed for Rs. 82.5 million; its shares traded at Rs. 165, Sanasa Development Bank 850,000 shares crossed for Rs. 51 million, its shares traded at Rs. 60 and Hemas Holdings 350,000 shares crossed for Rs. 30.8 million, its shares trading at Rs. 58.
In the retail market top five companies that contributed to the turnover were; LOLC Rs. 730 million (1.97 million shares traded), Dipped Products Rs. 383 million (6.1 million shares traded), Expolanka Rs. 304 million (6.5 million shares traded, JKH Rs. 280 million (1.78 million shares traded) and Vallibel One Rs. 273 million (4.3 million shares traded). During the day 117.4 million share volumes changed hands in 34809 transactions.
Samapth Bank announced a dividend, which was Rs. 8.25 per share. Due to uncertain market conditions Sampath Bank shares depreciated yesterday. In contrasting actions, state fund EPF sold down in Hayleys PLC, while Sri Lanka Insurance Corporation Life Fund has upped its stake in the quarter ended December 31, 2020. Hayleys also saw 605 new shareholders in the quarter.
As per latest shareholding at Hayleys, EPF has moved down to fourth from third after selling 2.3 million shares. Its shareholding with 2.34 million shares amounted to 3.12 percent down from 5.04 percent previously. SLIC Life Fund has increased its stake to 0.79 million shares or 1.06 percent from 0.39 million shares or 0.5 percent.High net worth individual investor and former Director Nimal Perera figures in the Top 20 shareholders list with 0.5 million shares or 0.67 percent shares while J.B. Cocoshell Ltd. is also a new entrant with 0.37 million shares or 0.5 percent. Hayleys’ public shareholding is 37 percent held by 6,974 shareholders, up from 6,369 shareholders as at September 30, 2020.
Sri Lanka rupee quoted wider around 195.00/197.50 levels to the US dollar in the spot market on Tuesday, while bond yields edged up on selling pressure, dealers said. The rupee last closed in on the one-week forward market at 196.50/197.00 levels on Monday. In the secondary market, bond yields gained on selling pressure but the market remained dull, dealers 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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