Business
Profit-takings in Lanka IOC, Expolanka Holdings and Lankem Development; turnover Rs. 4.9 billion
By Hiran H.Senewiratne
The CSE started the day’s trading on a positive note yesterday and later on profit- takings were noted in some selected companies. Those were, Lanka IOC, Expolanka Holdings and Lankem Development, stock market analysts said.
However, some data show that local fuel consumption declined due to the quota system and the high cost of fuel supply, thus enabling fuel imports to drop to US $ 250 million from US $ 500-600 million. This indicated that fuel consumption has not matched the desired output level. Therefore, economic activities are also at a somewhat low level, market analysts said.
Lanka IOC, Expolanka Holdings and Lankem Development share prices declined due to profit -takings. However, Plantation sector counters became active despite the lower yield owing to the rupee depreciation against the dollar.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 16.06 points and S and P SL20 declined by 12.5 points. Turnover stood at Rs 4.9 billion with two crossings. Those crossings were reported in JKH, which crossed 9.6 million shares to the tune of Rs 1.2 billion and its shares traded at Rs 125 and Renuka Holdings 2.3 million shares crossed to the tune of Rs 33.9 million; its shares traded at Rs 14.6.
In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 381 million (1.6 million shares traded), Lanka IOC Rs 367 million (two million shares traded), JKH Rs 324 million (2.5 million shares traded), Kotagala Plantations Rs 209 million (24.8 million shares traded), Lankem Development Rs 181 million (6.8 million shares traded), Horana Plantations Rs 159 million (3.3 million shares traded) and CIC Holdings Rs 111 million (1.6 million shares traded). During the day 154 million share volumes changed hands in 38000 share transactions.
It is said that high net worth and institutional investor participation was noted in JKH and Melstacorp. Mixed interest was observed in Expolanka Holdings, Lanka IOC and Hayleys Fabric, while retail interest was noted in Agstar, Browns Investments and Prime Lands Residencies.
The Food, Beverage and Tobacco sector was the top contributor to the market turnover (due to Lankem Developments) while the sector index gained 0.17 per cent. The share price of Lankem Development appreciated by Rs. 1.30 (5.33per cent) to close at Rs. 25.70.
Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) while the sector index increased by 6.68 per cent. The share price of Expolanka Holdings increased by Rs. 14.50 (6.69 per cent) to close at Rs. 231.25.
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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