Business
LOLC Group companies contribute substantially to main indices
By Hiran H.Senewiratne
CSE trading activities at the beginning of yesterday were buoyant and during the mid and latter parts of the day witnessed considerable profit taking. This scenario evinced mixed reactions from both indices with a healthy turnover level. But one of the subsidiaries of the LOLC Group of companies was at the forefront of the market throughout the day by contributing substantial points to the All Share Price Index.
A subsidiary of the LOLC Group, Commercial Leasing and Finance contributed 194 points to the All Share Price Index and also became the company with the highest market capitalization amounting to Rs 539 billion, which is more than 11.4 percent of the total market capitalization in the CSE, stock market analysts said. Commercial Leasing and Finance now tops the list overtaking Expolanka Holdings where the market capitalization is concerned.
Further, most of the LOLC Group companies exceptionally contributed to the indices: Commercial Leasing and Finance 194 points, LOLC Development and Finance (NIFL) 43 points, LOLC Holdings 25 points, LOLC Finance 23 points and Browns Investments 10 points.
Amid those developments both indices showed mixed reactions. All Share Price Index went up by 220.19 points and S and P SL20 went down by 16.33 points. Turnover stood at Rs 5.6 billion with two crossings. Those crossings were reported in JKH, which crossed 403,000 shares to the tune of Rs 60.5 million and its shares traded at Rs 152 and Distilleries 1.2 million shares crossed for Rs 21 million; its shares traded at Rs 17.50.
In the retail market, the top five contributors to the turnover were; LOLC Finance Rs 1 billion (86 million shares traded), Commercial Leasing and Finance Rs 991 million (12.3 million shares traded), Expolanka Holdings Rs 989 million (4.9 million shares traded), Browns Investments Rs 389 million (36.4 million shares traded) and LOLC Holdings Rs 2.73 million (427,000 shares traded).
During the day notable gains were reported in LOLC Finance and Commercial Leasing and Finance. LOLC Finance shares appreciated by 19.4 percent or Rs 2. Its share price moved up to Rs 12.30 from Rs 10.30. Commercial Leasing’s share price appreciated by 19 percent or Rs 13.60. Its share price shot up to Rs 88.60 from Rs 71.
Meanwhile, Agstar PLC announced a rights issue. The company will issue 153 million voting shares and 8.7 million non- voting shares to raise Rs 802 million. The proportion would be one new share for two shares. The purpose of the right issue was to settle the outstanding working capital loans and adding funds to the working capital. During the day 212 million share volumes changed hands in 47000 transactions.
Yesterday the US dollar was quoted at Rs 202.62, which was the Central Bank controlled price level, which is to prevent the price escalation of essential items.
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
