Business
LOLC Group sells 90.25 million shares in Agstar, booking profits
By Hiran H.Senewiratne
The LOLC Group has sold down in Agstar, booking profits, while retaining control. LOLC Holdings said it had disposed of 90.25 million shares or 19.56 per cent between December 16, 2022 and January 25, 2023, at prices ranging from Rs. 15 to Rs. 17.50 per share, CSE sources said.
LOLC Group collectively still has 269.4 million voting shares (representing 58.4 percent), Iconic Trust Ltd., 43.69 per cent and Browns Investments(14 per cent), while retaining 17.47 million non-voting shares (representing 66.66 per cent) remaining in Agstar.
Exactly a year ago, LOLC Group entered Agstar, acquiring a 43.75 per cent voting stake at Rs. 8 per voting share and 66.66 per cent non-voting shares at Rs. 4 per voting share in a deal worth Rs. 1.12 billion.
Yesterday, the stock market started on a positive note but in the middle of the session became volatile and during the latter part of the day buying interests were noted in certain selected stocks and the market turned positive. Consequently, both indices moved upwards. The All- Share Price Index went up by 32.23 points and S and P SL20 rose by 24.9 points. Turnover stood at Rs 1.9 billion with two crossings. Those crossings were reported in Melstacorp, which crossed 594,000 shares to the tune of Rs 29.7 million, its shares traded at Rs 50 and Hemas Holdings 333,000 shares crossed to the tune of Rs 20 million, its shares traded at Rs 60.
In the retail market top seven companies that mainly contributed to the turnover were, Lanka IOC Rs 421 million (two million shares traded), Expolanka Holdings Rs 279 million (1.4 million shares traded), Softlogic Capital Rs 194 million (12.3 million shares traded), Softlogic Life Insurance Rs 152 million (1.3 million shares traded), HNB Rs 90 million (one million shares traded), JKH Rs 69.2 million shares traded and Sampath Bank Rs 68.4 million (1.6 million shares traded). During the day 58 million share volumes changed hands in 16000 transactions.
Yesterday the stock market was positive and turnover too improved, compared to the previous day by 57 per cent. Top contributors to the turnover were, energy sector counters, which contributed Rs 422 million or 22 per cent, while the insurance sector contributed 19 per cent or Rs 360. The Treasury Bill rates and interest rates coming down will positively impact the stock market.
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
