Business
SG Holdings buys into Expolanka Holdings stocks, boosting net foreign inflow
By Hiran H.Senewiratne
SG Holdings bought into Expolanka Holdings’ stocks to boost the net foreign inflow at the CSE, market analysts said.CSE ‘s most profitably listed entity, Expolanka Holdings, saw 11.1 million of its shares change hands via 923 trades for Rs. 2.5 billion. Among the transactions, there were 53 crossings involving 10 million shares at Rs. 225 each. The share price of Expolanka increased by Rs. 4.25 (1.96 per cent) to close at Rs. 220.75.
Expolanka contributed 37 per cent to the day’s turnover at the CSE which saw a rebound in investor sentiment.With SG’s purchases net foreign inflow amounted to Rs. 2.3 billion yesterday, boosting the year to date figure to Rs. 4 billion and Rs. 3.5 billion for September so far. Between early August and last week SG Holdings had collected 10 million shares and with yesterday’s quantity it has acquired a 1.36 per cent stake in addition to the existing shareholding of 75.6 per cent.
Amid those developments CSE was extremely bullish yesterday and penny stocks began to be active and reported considerable gains. The reason being that stock market investors and others are attracted to the equity market because the inflation rate is more than 60 per cent. Therefore, people have begun to invest in the equity market, mainly the stock market and government securities in Treasury Bonds/Bills and other commercial papers’ annual rates are also at 30 per cent, stock market analysts said.
‘The market is continuing on the previous day’s positive sentiment mainly pushed by heavyweight Expolanka. We are still seeing crossings taking place in the counter while investors are showing interest again in plantation sector shares, an analyst said.
On Wednesday, the market saw a net foreign inflow of Rs 2.29 billion, its highest since July 2019, mainly on buying in Expolanka shares.
Both indices moved upwards. The All- Share Price Index went up by 152 points and S and P SL20 rose by 64.7 points. Turnover stood at Rs 4.9 billion with four crossings. The crossings were reported in Expolanka Holdings, which crossed 3.2 million shares to the tune of Rs 732 million, its shares traded at Rs 225, Melstacorp 2.5 million shares crossed to the tune of Rs 140 million, its shares trading at Rs 57, JKH 650,000 shares crossed to the tune of Rs 81.7 million, its shares fetched Rs 126.
In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 419 million (1.8 million shares traded), Richard Pieris Rs 296 million (9.5 million shares traded), Lanka IOC Rs 292 million (1.2 million shares traded), Agsta PLC Rs 226 million (12.7 million shares traded), LOLC Finance Rs 208 million (31.3 million shares traded), Melstacorp Rs 160 million (2.8 million shares traded) and JKH Rs 142 million (1.1 million shares traded).
It is said mixed interest was observed in Lanka IOC, CIC Holdings and Lankem Developments, while retail interest was noted in SMB Leasing voting and non-voting, Kotagala Plantations and Tess Agro.
The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Lankem Developments) while the sector index increased by 0.84 per cent. The share price of Lankem Developments recorded a gain of Rs. 3.30 (11.34 per cent) to close at Rs. 32.40. Lanka IOC, CIC Holdings non-voting and Richard Pieris & Company were also included among the top turnover contributors.Yesterday the Central Bank’s dollar buying rate was Rs 358.41 and the selling rate Rs 369.38.
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.”
US sports envoys to Lanka to champion youth development
Rahuman questions sudden cancellation of leave of CEB employees
