Business
CSE’s early momentum fizzles out over IMF-linked worries
By Hiran H.Senewiratne
The CSE at the beginning witnessed some positive momentum yesterday due to inflation coming down to 4.6 percent and investors expecting the Central Bank to reduce policy rates further. But towards the latter part of the day, the market turned negative, over worries that there would be delays in implementing IMF recommendations and other issues, market analysts said.
Amid those developments both indices moved downwards. The All- Share Price Index went down by 59.47 points and S and P SL20 declined by 28.92 points. Turnover stood at Rs 2.9 billion with two crossings. Those crossings were reported in HNB, which crossed 625,000 shares to the tune of Rs 110 million; its shares traded at Rs 176 and Melstacope Rs 9.80 worth shares crossed for 252,000 to the tune of Rs 20.1 million.
In the capital market top seven companies that mainly contributed to the turnover were, Capital Alliance Rs 326 million (3.6 million shares traded), JKH Rs 266 million (1.4 million shares traded), HNB Rs 263 million (1.4 million shares traded), Hayleys Fabrics Rs 216 million (4.7 million shares traded), Pan Asian Bank Rs 139 million (6.2 million shares traded), First Capital Holdings Rs 117 million (1.9 million shares traded) and Distilleries Rs 81.8 million (3.44 million shares traded).
It is said high net worth and institutional investor participation was noted in Windforce, Lankem Developments, and Melstacorp. Mixed interest was observed in Capital Alliance, Hayleys Fabric and First Capital, while retail interest was noted in Hela Apparel Holdings, Amana Bank and SMB Leasing nonvoting.
The Diversified Financials sector was the top contributor to the market turnover (due to Capital Alliance and First Capital Holdings) while the sector index lost 0.30 percent. The share price of Capital Alliance gained Rs. 11.90 to reach Rs. 89.40. The share price of First Capital Holdings recorded a gain of Rs. 4.20 to reach Rs. 59.
The Utilities sector was the second highest contributor to the market turnover (due to Windforce), while the sector index increased by 0.93 percent. The share price of Windforce increased by 20 cents to reach Rs. 19.10.
Yesterday the rupee opened at Rs 323.75/324.00 to the US dollar, after closing on Monday at Rs 323.50/324.50 to the US dollar, dealers said.
A bond maturing on 01.07.2025 was quoted up at 13.50/60 percent on Tuesday after closing at 13.15/45 percent on Monday. A bond maturing on 15.05.2026 was quoted at stable at 12.90/13.10 percent after closing at 12.90/13.00 percent on Monday.
A bond maturing on 15.09.2027 was quoted stable at 12.95/13.05 percent after closing at 12.95/13.10 percent.
Business
Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment
By Sanath Nanayakkare
In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.
The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.
A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.
Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.
With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.
To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.
Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.
Business
Hettich celebrates a decade in Sri Lanka with partner meet in Colombo
Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.
The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.
Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.
The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.
Business
GS Evo Motors launches all-new JMEV EWIND
GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.
The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.
The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.
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