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CSE turnover hits Rs. 12 billion; investment in stocks gathers pace

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By Hiran H.Senewiratne

Weak economic conditions and the lower interest regime propelled stock market activities to a higher level as most investors selected investing in the stock market as a prudent move. These trends resulted in CSE turnover reaching more than Rs 12 billion yesterday, market analysts said.

Despite the satisfactory turnover, both indices showed a downwards trend. Initially, the stock market indices gained the 200- point level and in the second half of the day the CSE witnessed heavy selling pressure on LOLC Group shares, stock analysts said.

Both indices moved downwards and declined by two percent. The All Share Price Index went down by 258 points and S and P SL20 declined by 59.8 points. Turnover stood at Rs 12.2 billion with three crossings. Those crossings were reported in JKH, which crossed 400,000 shares to the tune of Rs 59.2 million, its shares traded at Rs 148, Vallibel One 500,000 shares crossed for Rs 31.5 million, its shares traded at Rs 63 and Access Engineering one million shares crossed for Rs 25 million, its shares fetching Rs 25.

In the retail market top five companies that mainly contributed to the turnover were, LOLC Finance Rs 3.8 billion (160 million shares traded), Browns Investments Rs 2.5 billion (215 million shares traded), RIL Properties Rs 1.4 billion (110 million shares traded), Expolanka Holdings Rs 537 million (2.6 million shares traded) and LOLC Holdings Rs 520 million (783,000 shares traded).

The previous day LOLC Group bull runners witnessed a substantial decline in their shares, especially LOLC Finance that increased its share price in an exceptional manner on the previous day. It declined by seven percent or Rs 1.60. Its shares started trading at Rs 20.90 and at the end of the day they moved down to Rs 19.30.

Another subsidiary of the LOLC Group and the company with the largest market capitalization in the stock market, Commercial Leasing and Finance (CLC) depreciated its share price by 10 per cent or Rs 7.30. Its shares started trading at Rs 72.10 and at the end of the day they moved down to Rs 63. Further, CLC was the largest negative contributor to the All Share Price Index, which contributed 104 negative points. LOLC Development Finance (NIFL) shares declined by Rs 93.25 or 16 percent. Its shares started trading at Rs 580 and at the end of the day they declined to Rs 486.75. During the day 673 million share volumes changed hands in 79000 transactions.

Sri Lanka’s pioneering e-commerce enterprise Kapruka is to list on the CSE via a Rs. 500 million IPO. The funds raised via the IPO will be utilized to upgrade its existing technology and infrastructure and expand its cross-border export activities.

In addition, Kapruka is planning to generate new revenue streams by introducing several new e-commerce products, including a marketplace for premium brands, a used goods marketplace and a wholesale marketplace. The new products are expected to contribute to incremental revenue from around FY2023/24 onward.

Yesterday the US dollar was quoted at Rs 202.05. The Central Bank has imposed a controlled price for the US dollar at Rs 203, to prevent and control inflationary pressure in the country.



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Business

SIA warns of 1,000 SME collapses, urges fair policies to protect Sri Lanka’s rooftop solar sector

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The Solar Industries Association (SIA) holds a press briefing in Colombo recently.

By Sanath Nanayakkare

The Solar Industries Association (SIA), representing over 1,000 companies and employing 40,000 workers in Sri Lanka’s rooftop solar sector, issued a stern warning recently regarding threats to the industry’s survival and the nation’s renewable energy ambitions. The association condemned recent regulatory instability and called for urgent policy reforms to avert economic and social crises.

The SIA categorically rejected the Ceylon Electricity Board’s (CEB) claim that rooftop solar installations caused the recent island-wide power outage, calling the accusation “baseless and misleading.”

“Public trust is eroded when accountability is misdirected,” the SIA stated. “We demand an independent, transparent investigation led by experts appointed by the Ministry or the Public Utilities Commission (PUCSL). The CEB’s unilateral statements disregard the sector’s contributions and jeopardize Sri Lanka’s renewable energy transition,” they said.

“While acknowledging the formation of a tariff determination committee, the SIA criticized its narrow focus on financial parameters, ignoring the sector’s socioeconomic value. Rooftop solar empowers businesses and households with energy independence, reduces grid strain, and supports climate goals. However, proposed volatile tariff structures risk destabilizing over 100,000 installations—primarily owned by middle-class families—and deter future investment,” they noted.

“A rigid, equation-based tariff system is unsustainable,” the association warned. “Sri Lanka needs a stable policy framework to attract long-term investments. For instance, retirees could invest EPF savings into solar projects, securing income while advancing national energy targets. Without urgent action, 1,000 SMEs and 40,000 jobs face collapse, with dire consequences for employment, energy security, and economic stability,” they pointed out.

SIA urged policymakers to establish an independent committee to investigate the power outage fairly, expand the tariff committee’s mandate to include socioeconomic and environmental benefits and implement predictable policies to safeguard SMEs, households, and investor confidence.

“Sri Lanka stands at a crossroads,” the SIA emphasized. “Protecting rooftop solar isn’t just about energy—it’s about livelihoods, economic resilience, and a sustainable future. We urge stakeholders to collaborate on solutions that prioritize both people and progress,: they emphasized.

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Sri Lanka makes outstanding appearance at OTM and SATTE 2025 in India

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SLTPB has been a regular member of both OTM and SATTE trade fairs in India

Starting its promotional work for 2025, Sri Lanka Tourism Promotion Bureau (SLTPB) added another feather into its cap of endorsements, by being recognized as the most innovative Tourism Board promotion in Outbound Travel Mart (OTM) . In parallel to that, several other sub events were held. The OTM was held in Jio World Convention Centre, Mumbai—India, from 30th January to 01st February 2025.Before OTM, the Global Village – Global Exchange & Trade Exhibition was held at the Surat International Exhibition & Convention Centre , Sarsana, Surat (Gujarat – India , from 25th to 27th January 2025. This travel fair was organized by Southern Gujarat Chamber of Commerce and Industry (SGCCI).

Sri Lanka participated in both OTM and South Asia’s Travel & Tourism Exchange (SATTE), held from 19th – 21st Feb 2025, in New Delhi, India . This was an excellent opportunity for Sri Lanka to promote it’s potential as a unique travel destination, especially for the Indian counterparts, as SLTPB has identified India as the number one source market for Sri Lanka, tourism bringing the largest number of tourist arrivals to the destination.

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SLT-MOBITEL partners with the Rush Lanka Group to power its apartment portfolio

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Imantha Wijekoon, Chief Business Officer - Consumer Business at SLT, and Zaid Ariff, Director of Construction at the Rush Lanka Group, exchange the signed agreement

SLT-MOBITEL has entered into a strategic partnership with Rush Lanka Group to provide exclusive SLT-MOBITEL Fibre connectivity solutions to their portfolio of luxury apartment developments in Colombo and the suburbs, enhancing the digital experience of all residents.

The agreement was signed between Imantha Wijekoon, Chief Business Officer of Consumer Business at SLT, and Zaid Ariff, Director of Construction at the Rush Group headquarters. Representatives from both companies also attended the ceremony.

Under the partnership, SLT-MOBITEL will serve as the exclusive digital service provider for five prestigious Rush Lanka developments including Street Rush Residencies and Rush Court 4 in Mt. Lavinia, Rush Tower 2, Rush Metropolis in Dehiwala, and Rush Court 5 in Colombo 14. The collaboration ensures residents will enjoy superior fibre connectivity speeds, enabling seamless digital experiences in modern smart homes. The partnership with the Rush Lanka Group aligns with SLT-MOBITEL’s commitment to offer ultra-fast, reliable connectivity solutions to residential developments. Delivering exclusive fibre connectivity to luxury apartments, SLT-MOBITEL ensures residents have access to world-class digital services that complement the living experience promised by Rush Lanka Group.

Powered by advanced fibre technology, SLT-MOBITEL network will provide the residences with seamless performance across digital activities. The SLT-MOBITEL Fibre backbone ensures lag-free experiences whether tenants are gaming online, attending virtual classes, working remotely, or streaming high-definition entertainment. SLT-MOBITEL Fibre will transform the lifestyles of all apartment users bringing greater convenience and superior quality of life.

Rush Lanka Group, established in 1992, is a property developer specializing in luxury and semi-luxury apartments.

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