Business
Share price appreciations in LOLC and Hayleys Group counters
By Hiran H. Senewiratne
CSE trading activities were positive yesterday mainly due to the announcement of an Indian relief package, on an urgent basis to Sri Lanka, following Finance Minister Basil Rajapaksa’s New Delhi visit that focused on measures to tide over the current economic crisis that Sri Lanka is facing, market analysts said.
Indian media reported that India is expected to extend a food & health security package to Sri Lanka along with an energy security package and currency swap. It also plans to push Indian investments. It was agreed during Rajapaksa’s visit that the procedures to realize these objectives would be finalized early, within a mutually agreed time, stock market analysts said.
Next January Sri Lanka has to pay US $ 500 million worth of international sovereign bonds. If the government defaults, its economic repercussions would be very serious and Sri Lanka could be branded as a high- risk economy. Therefore, by January Sri Lanka would be left with US $ 1.5 billion, stock market analysts said.
Amid those developments notable buying interest was witnessed in most companies, including blue chip companies. Price appreciation was reported mostly in LOLC Group counters and Hayleys Group counters. LOLC Holdings, contributed 202 points to the All- Share Price Index and its share price moved up by Rs 190 or 19 points. Its share prices shot up to Rs 1187 from Rs 997. Brown and Company share prices appreciated by 15 per cent or Rs 48.50. Its share price appreciated to Rs 369.25 from Rs 320.75. Hayleys share price rose by Rs 4.50 or four per cent. Its share price shot up to Rs 115.2 from Rs 110, at the end of the day’s trading. Further, poultry sector counters also moved up yesterday. Main appreciation was noted in Bahirah Farm, which increased by 13 per cent or Rs 36.50. Its shares started trading at Rs 273.25 at the end of the day they moved to Rs. 315.
Consequently, both indices moved upwards. The All-Share Price Index went up by 286 points and S and P SL20 rose by 125 points or three per cent. Turnover stood at Rs 8.1 billion with five crossings. Those crossings were reported in Brown and Company, where 400,000 shares crossed for Rs. 130 million and its shares traded at Rs 328, JKH 250,000 shares crossed for Rs 36 million, its shares traded at Rs 144, Royal Ceramic 300,000 shares crossed for Rs 22.2 million, its shares fetched Rs 74, Hemas Holdings, 300,000 shares crossed for Rs 21 million, its shares traded at Rs 70 and Sampath Bank 387,000 shares crossed for Rs 20.7 million and its shares fetched Rs 53.50.
In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Rs 1.6 billion (4.5 million shares traded), LOLC Holdings Rs 617 million (543,000 shares traded), Browns Investments Rs 565 million (39 million shares traded), Brown and Company Rs 370 million (one million shares traded), Hayleys PLC Rs 290 million (2.5 million shares traded), Sampath Bank Rs 281 million (5.2 million shares traded) and SMB Leasing Rs 246 million (135 million shares traded). During the day 9.9 million shares volumes changed hands in 54000 transactions.
Yesterday, the US dollar was quoted at Rs 201.83, which is the Central Bank controlled price. It is close to Rs 250 in normal circumstances. However, the rupee will likely stabilize if the US $ one billion dollar currency swap comes into play, market analysts 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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