Business
NIFL takes stock market to positive territory
By Hiran H.Senewiratne
CSE activities indicated mixed reactions yesterday and, as usual, LOLC Development Finance (NIFL) shares appreciated and dragged the All Share Price Index to positive territory by contributing 50 points to the Index. Further, Nawaloka Hospital’s stocks witnessed an unusual buying interest and their shares also witnessed a price appreciation, stock market analysts said.
NIFL share prices increased by 22 percent or Rs. 101. Its shares started trading at Rs 462 and at the end of the day they shot up to Rs. 563, while Nawaloka Hospital which contributed three points to the All Share Price Index appreciated its share price by 19 percent or Rs 1.10. Its share price increased to Rs 6.80 from Rs 5.70.
Amid those developments, the All Share Price Index went up by 55.2 points and S and P SL20 by 16.5 points down. Turnover stood at Rs. 1.47 billion with two crossings. One crossing was reported in JKH, which crossed 4.25 million shares to the tune of Rs. 571.7 million and its shares traded at Rs. 134.75 and Commercial Bank 1.4 million shares crossed for Rs. 121 million while its shares traded at Rs. 86.50.
In the retail market, top five companies that mainly contributed to the turnover were, Dipped Products Rs. 63.3 million (1.2 million shares traded), Nawaloka Hospitals Rs. 48.7 million (7.6 million shares traded), Sampath Bank Rs. 35.4 million (679,000 shares traded), Royal Ceramic Rs. 32.4 million (908,000 shares traded) and Expolanka Rs 32 million (650, 000 shares traded).
JAT Holdings, Sri Lanka’s trusted industry leader in finishing and furnishing, recently announced the firm’s intention to enter an Initial Public Offering (IPO) on July 20, 2021. JAT Holdings’ IPO aims to raise Rs. 2.2 billion by offering 82,904,846 ordinary voting shares to the public. The IPO price per share of Rs. 27.00 offers an immediate upside of 21 percent to an incoming investor on the value per share of Rs. 32.70 derived from a combination of discounted cash flow (DCF) and forward-earnings ratio (PER) valuation methods. During the today’s CSE trading, 43.7 million share volumes changed hands in 14323 transactions.
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, participants said as money printing continued.
Generally which is offered by money changers in Colombo for Middle East returnees and others, it rose dramatically over the past month after a Covid-19 control was lifted and foreign exchange rationing began for imports.
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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