Business
Notable share appreciations in Cooperative Insurance and hSenid
By Hiran H. Senewiratne
Two newly listed companies, Cooperative Insurance and hSenid, saw their share prices appreciate significantly at the CSE yesterday, which is a notable occurrence, stock market analysts said.
Further, plantation sector companies were able to maintain their momentum as on the previous day. But there are notable activities happening in tourism/hotel sector counters due to the significant increase in tourist arrival to Sri Lanka from December 1 to 26th this year, amounting to 70000 arrivals, stock market analysts said.
Amid those developments both indices moved upwards. The All- Share Price Index went up by 104.5 points and S and P SL20 rose by 23.7 points. Turnover stood at Rs 6.5 billion with five crossings. Those crossings were reported in Commercial Bank, which crossed 3.9 million shares to the tune of Rs 308 million, its shares traded at Rs 79, Melstacorp two million shares crossed for Rs 110 million, its shares traded at Rs 55, LOLC Holdings 32000 shares crossed for Rs 37.3 million, its shares traded at Rs 1165.75, Royal Ceramic 500,000 shares crossed for Rs 37.2 million, its shares traded at Rs 74.40 and Bukitdarah 50000 shares crossed for Rs 20 million, its shares fetching Rs 400.
In the retail market, seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 815 million (2.2 million shares traded), Browns Investments Rs 546 million (37.8 million shares traded), Cooperative Insurance Rs 407 million (92.5 million shares traded), hSenid Rs 410 million (12.4 million shares traded), Lanka IOC Rs 179 million (2.5 million shares traded), Elpitiya Plantations Rs 179 million (1.2 million shares traded) and Richard Peiris Rs 161 million (6.4 million shares traded). During the day 509 million share volumes changed hands in 59000 transactions.
Price appreciations were noted in two newly listed companies. One was Cooperative Insurance, where the share price appreciated by 30 per cent or Rs 1.10. Its shares shot up to Rs 4.70 from Rs 3.60. The second was hSenid, whose share price appreciated by 16 per cent or Rs 4.50. Its share price shot up to Rs 32.80 from Rs 28.30. Further, Elpitiya Plantations share prices appreciated by Rs 21.25 or 16 per cent. Its share price shot up to Rs 156 from Rs 134.
Meanwhile, LOLC General Insurance, which oversubscribed 12 times, will be listed in the Divisavi Board today. The company will issue 1.2 billion shares, out of which 120 million will be offered to the public at Rs 7.90 a share to raise Rs 948 million.
It said high net worth and institutional investor participation was noted in Melstacorp, Commercial Bank and Sinhaputhra Finance. Mixed interest was observed in Expolanka Holdings, hSenid Business Solutions and Browns Investments, while retail interest was noted in SMB Leasing voting and non-voting and Industrial Asphalts.
Sector-wise, plantation stocks witnessed more traction during the session and ended sharply higher while Food, Beverage & Tobacco, Diversified Financials, Capital Goods and Banks sectors led activity, collectively accounting for 72.7% of turnover. Activity continued strong while the breadth of the market turned positive with 124 gainers and 91 decliners.
Separately Kelani Valley Plantations, Haycarb and Singer Sri Lanka announced their interim dividends of 25 cents, 75 cents and 35 cents per share respectively.
Yesterday the US dollar was quoted at Rs 201.96, which was the Central Bank controlled price. The actual price of the dollar is now touching Rs 250, market sources 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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