Royal Ceramic shares shoot-up by 25 per cent

By Hiran H.Senewiratne 

Royal Ceramic PLC shares shot up by 25 percent at the CSE when its four listed subsidiary companies’ share prices moved up significantly with the release of their exceptionally good quarterly results yesterday, stock market analysts said. 

Royal Ceramic PLC is yet to release its quarterly results and its   subsidiary companies, Lanka Wall Tiles, Lanka Tiles, Lanka Ceramic and Swisstek came out with notably good results and won investor attraction at the CSE yesterday. This resulted in the 25 percent rise of Royal Ceramic shares. Its shares started trading at Rs. 132 but at the end of the day a share moved up to Rs. 165, which was a Rs. 33 or 25 percent increase, analysts said.

In order to increase its liquidity capital in the market, HNB Assurance will go for a subdivision of shares on the proportion of  one share into three. This is allowed under the 2007 Companies Act to increase the company’s liquidity level in the market. This is determined on the last cut off date of the share price.  

Amid those developments the CSE was positive throughout the day and both indices moved up well i.e. All Share Price increased by 75.95 points and  S and P SL20 went up by 28.53 points.  The bourse transcended the 6,000 psychological level once again after a month on the back of robust investor confidence due to exceptional earnings in selective counters. 

The turnover stood at Rs. 4.99 billion with three crossings. Those crossings were reported in Singhe Hospital, which crossed 30 million shares to the tune of Rs. 78 million, its share price trading at Rs. 2.60, Commercial Bank one million shares crossed for Rs. 75 million, a share trading at Rs. 75 and Union Bank  five million shares crossed for Rs. 7.5 million; its share trading at Rs. 11.50.

In the retail market top five  contributors to the turnover were; Expolanka Rs. 593.4 million (23.8 million shares traded), Hayleys Rs. 444.5 million (1.05 million shares traded), Dipped Products Rs. 350.8 million (867,000 shares traded), Royal Ceramic  Rs. 336 million (2.17 million shares traded) and Hycarb Rs. 254.5 million (494,000 shares traded). During the day 215.7 million share volumes changed hands in 39418 transactions.