Business
NIFL share price continues to do wonders at CSE
Investors bemused at the behaviour of the illiquid stock
By Hiran H.Senewiratne
The Colombo Stock Exchange (CSE) turned negative yesterday in an apparent reflection of investor concerns over the country’s foreign reserves and debt servicing as well as behavior of one illiquid stock, which is LOLC Development Finance (NIFL), market analysis said..
The market initially was positive when it was started but much talked about LOLC Development Finance or NIFL significantly contributed to the All Share Price Index, but its momentum declined only 12 percent share appreciation. However , several stock brokers have complained to the relevant authorities due to its unprecedented price movement, market analysis said .
The bourse ended in the red as a result of a drop in fundamental shares, wiping out the gains witnessed in the last two trading sessions, while ASPI retreated from the 19-week record high. “Index surged over the first 10 minutes of trading, reaching an intra-day high of 7,956, and thereafter, displayed a continuous downward trend, finally closing at an intraday low level.
Due to these developments both indices moved downwards. All Share Price Index down by 18.9 points and S and P SL20 down by 28.9 points. Turnover stood at Rs 1,71 billion with a single crossing. The crossing reported in Hayleys, which crossed 380,000 shares to the tune of Rs 28.5 million and its share price traded at Rs 75.
In the retail trade top five companies that mainly contributed to the turnover were Browns Investments Rs 171.8 million (29.3 million shares traded ), Expolanka Rs 136.6 million (2.75 million shares traded), LOLC Rs 130 million (328,000 shares traded), JKH Rs 81.1 million ( 599,000 shares traded) and HNB Rs 80.5 million ( 600,000 shares traded ).
During the day NIFL share price increased by 12 percent or Rs 76. Its share price started trading at Rs 618.75 and at the end of the day it shot up to Rs 694.75. During the day selling pressure noted on the banking sector and its share prices dropped.
It said high net worth and institutional investor participation was noted in LOLC Holdings, Hayleys and Expolanka Holdings. Mixed interest was observed in Dipped Products, Royal Ceramics and Alumex, whilst retail interest was noted in Browns Investments and Industrial Asphalts.
During the day 87.1 million share volume changed hands in 23971 transactions.
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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