Business
Up and down trend at CSE; mixed reactions to Road Map
By Hiran H.Senewiratne
CSE gathered more momentum yesterday with the more active S&P SL20 Index reaching an all-time high the previous day. Local investors remained bullish in the early session yesterday but the market showed mixed reactions after Central Bank Governor Ajith Nivard Cabraal unveiled the ‘Six-Month Road Map for Ensuring Macroeconomic and Financial System Stability. ‘
Yesterday the stock market was driven by certain contents of the Road Map, which highlighted improving and promoting the local export oriented sector, consolidation of financial institutions and buy back plans on international sovereign bonds if they do not fetch the correct amount in 2022.
With those developments, the CSE began with the bullish buying trend but during the latter part of the day the bourse witnessed some profit takings. Both indices showed mixed reactions. All Share Price Index was down by 17.6 points and S and P SL20 up by 6.10 points. Turnover stood at Rs. 5.3 billion with four crossings. Those crossings were reported in TJ Lanka, where 8.3 million shares crossed for Rs. 376 million, its shares traded at Rs. 45, Expolanka 600,000 shares crossed for Rs. 121.2 million, its shares traded at Rs. 202, Aitkens Spence 500,000 shares crossed for Rs. 41.7 million and its shares traded at Rs. 83.50 and HNB 150,000 shares crossed for Rs. 21.3 million, its shares traded at Rs. 142.
In the retail market, five companies that mainly contributed to the turnover were; Expolanka Holdings Rs. 937 million (4.7 million shares traded), JKH Rs. 475 million (three million shares traded), TJLanka Rs. 364 million (eight million shares traded), EML Consultants Rs. 307 million (21.9 million shares traded) and Browns Investments Rs. 277 million (27 million shares traded). During the day 519 million share volumes changed hands in 43000 share transactions.
It is said high net worth and institutional investor participation was noted in Expolanka Holdings, Brown and Company and JKH. Mixed interest was observed in LOLC Holdings, Teejay Lanka and Royal Ceramics, while retail interest was noted in Browns Investments, Marawila Resorts and Ambeon Capital. Foreign participation in the market activity remained at subdued levels with foreigners closing as net sellers.
Separately, Kelani Valley Plantations and Hayleys Fibre announced their interim dividends of 70 cents and one rupee per share respectively.
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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