Business
NIFL share price loses steam, rupee quoted at 225/226.50 in kerb market
By Hiran H.Senewiratne
Stock trading activities at the Colombo Stock Exchange (CSE) was subdued yesterday mainly due to price depreciation of LOLC Development Finance PLC’s (NIFL) shares by 24.5 percent or Rs 170.25. In the last couple of trading days its share price witnessed an unusual increase without any plausible reasons where market participants and stockbrokers had raised concerns about the development.
With the recording of the price depreciation in NIFL stocks, it negatively contributed to the All Share Price Index by 91 points. Both indices showed a downward trend. All Share Price Index was down by 104.2 points and S&P SL20 down by 5.01 points. If not for NIFL ‘s negative contribution ASPI would have settled with 14 negative points, market analysts said.
NIFL share price started trading at Rs 694.74 at the commencement of trading but during the latter part of the day its share price fell by Rs 170.25 and touched Rs 525.50.
According to JKSB, Top gainer was Nation Lanka Finance PLC(+14.29%) and Top loser NIFL.N (-24.51%).
Turnover stood at Rs 1.45 billion with six crossings. Those crossings were reported in Renuka Agri Food 27.6 million shares crossed for Rs 102.1 million and its share price traded at Rs 3.70, HNB (Non Voting) 600,000 shares crossed for Rs 66 million and its share price traded at Rs 110, Cargills 175,000 shares crossed for Rs 42.5 million its share price traded at Rs 243, Royal Ceramic one million shares crossed for Rs 35 million its share price traded at Rs 35, DFCC 500,000 shares crossed for Rs 30 million and its share price traded at Rs 60 and Aitken Spence 381,000 shares crossed for Rs 20.8 million and its share price traded at Rs 54.50.
In the retail market, the top five contributing companies were HNB (Non Voting) Rs 136 million (1.24 million shares traded), Expolanka Rs 92.2 million (1.87 million shares traded), LOLC Rs 82.1 million (210,000 shares traded), Royal Ceramic Rs 72.3 million (2.1 million shares traded) and HNB Assurance Rs 46.7 million (933,000 shares traded).
People’s Leasing which announced a Rs 8 billion debenture issue sometime back has revised its plan to increase it to Rs. 10 billion. Each debenture is quoted at Rs 100 and the purpose is to have more liquidity for the company. During the day 73.65 million share volume changed hands in 15,540 transactions.
Meanwhile, Sri Lanka’s rupee is being quoted in the kerb market at 225.00/226.50 to the US dollar as unusual demand for currency notes emerged over the past two weeks amid forex trading curbs in the formal market as money printing continued, participants 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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