Business
Lanka IOC shares shoot up; turnover hits Rs. 4 billion
By Hiran H.Senewiratne
CSE trading started yesterday on a negative note due to profit- takings but subsequently turned positive on account of turnover touching Rs 4 billion.Lanka IOC and Expolanka had created a major significant move to the market, stock market analysts said. Market had been gaining for the last five sessions on positive sentiments and speculation hinted that the government has no idea of going for a fuel price revision. The Lanka IOC share price appreciated by six per cent or Rs 12. Its share price during the day shot up to Rs 206.75 from Rs 194.75.
Expolanka Holdings contributed more than 27 per cent to the turnover due to foreign buying and also high institutional participation in the market. Rs 1.1 billion in crossings resulted in the market turning positive.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 51.8 points and S and P SL20 rose by 26.8 points. Turnover stood at Rs four billion with four crossings. Those crossings were reported in Expolanka Holdings, which crossed 5.6 million shares to the tune of Rs 1.1 billion and its shares traded at Rs 198, Colombo Fort Land 6.5 million shares crossed to the tune of Rs 186 million and its shares traded at Rs 31, JKH 750,000 shares crossed to the tune of Rs 105 million, its shares fetched Rs 140 and Sampath Bank 556,000 shares crossed to the tune of Rs 20 million, its shares traded at Rs 36.
In the retail market top seven companies that mainly contributed to the turnover were Lanka IOC Rs 592 million (2.9 million shares traded), Expolanka Holdings Rs 346 million (1.7 million shares traded), Browns Investments Rs 170 million (26.9 million shares traded), First Capital Holdings Rs 154 million (5.5 million shares traded), Sampath Bank Rs 150 million (3.9 million shares traded), First Capital Treasuries Rs 134 million (5.5 million shares traded), and Capital Alliance Rs 93.6 million (4.1 million shares traded). During the day 126 million share volumes changed hands in 21,000 share transactions.
It is said that high net worth and institutional investor participation was noted in Expolanka Holdings, Asia Siyaka Commodities and Sierra Cables. Mixed interest was observed in Lanka IOC, Sunshine Holdings and First Capital Holdings, while retail interest was noted in SMB Leasing (voting and nonvoting), Browns Investments and LOLC Finance.
The Transportation sector was the top contributor to the market turnover (due to Expolanka Holdings) while the sector index gained 1.29 per cent. The share price of Expolanka Holdings increased by Rs. 2.50 (1.30 per cent) to close at Rs. 195.50.
Diversified Financials sector was the second highest contributor to the market turnover (due to LOLC Finance), while the sector index increased by 2.19 per cent. The share price of LOLC Finance recorded a gain of 10 cents to close at Rs. 7.90.Yesterday the Central Bank announced the US dollar buying rate as Rs 361.25 and selling rate as Rs 371.72.
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
