Connect with us

Business

Major transactions in Hayleys related stocks; CSE winning streak ends

Published

on

By Hiran H.Senewiratne

The CSE yesterday saw an end to its four-day-strong winning streak, influenced by price declines in heavyweights Expolanka and LOLC Holdings, with active investors booking profit and others abstaining, market analysts said.

However, heavy rallies on Hayleys stocks were noted during the day. Major transactions took place yesterday when Finco Group, being one of the largest shareholders of Hayleys, divested/shed 22 million shares, which is equal to a three per cent stake of Hayleys, to several high net worth individuals and institutional buyers to the tune of Rs 2.9 billion, by way of a crossing, stock market analysts said.

The Hayelys share price in the last few days was a bit active and its shares appreciated by Rs 4.50 or three per cent yesterday. Its share price shot up to Rs 128.75 from Rs 124.25.

Sri Lanka’s gross domestic product, meanwhile, is estimated to have contracted 1.5 per cent in the third quarter of 2021 amid a Coroanvirus curfew and import restrictions, data from the state statistics office showed.

Growth slowed from a 12.3 per cent recovery in the second quarter and 1.3 per cent growth in the third quarter of 2020. Agriculture grew 1.7 percent, industries contracted 2.1 percent and services also contracted 1.6 per cent. A Covid curfew was imposed from August 20 and continued until mid- October.

Amid those developments both indices were down. The All- Share Price Index down by 75.03 points and S and P SL20 declined by 10.03 points. Turnover stood at Rs 8.3 billion with four crossings. Those crossings were reported in Hayleys PLC, which crossed 23 million shares to the tune of Rs 2.9 billion and its shares traded at Rs 125, JKH, 1.1 million shares crossed for Rs 163 million, its shares traded at Rs 143, Sampath Bank 900,000 shares crossed for Rs 47.7 million, its shares fetched Rs 53 and Amana Bank 10 million shares crossed for Rs 45 million, its shares traded at Rs 4.50.

In the retail market, seven companies that mainly contributed to the turnover were; Expolanka Rs one billion (2.9 million shares traded), Hayleys Rs one billion (8.2 million shares traded), Browns Investments Rs 281 million (20 million shares traded), Commercial Bank Rs 202 million (2.5 million shares traded), ACL Cables Rs 151 million (1.4 million shares traded), RIL Property Rs 133 million (8.9 million shares traded) and Royal Ceramic Rs 105 million (1.4 million shares traded).

It is said high net worth and institutional investor participation was noted in Expolanka Holdings, Hayleys and Commercial Bank. Mixed interest was observed in ACL Cables, Brown & Company and Guardian Capital Partners, while retail interest was noted in SMB Leasing, Browns Investments and Capital Alliance.

It is said the bourse slipped back to the red zone, snapping the previous four-day rally on the back of profit-taking in selected counters.

Yesterday, the US dollar was quoted at Rs 200.67, which was the controlled price of the Central Bank to maintain price stability in imported essential items. This artificial price control would be inimical to the economy. The excessive money- printing by the government is also adding insult to injury, market analysts said.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Mattala Wildlife Unit to boost revenue, tourism and investor confidence

Published

on

Dignitaries at the MOU signing ceremony.

The launch of a dedicated wildlife unit at Mattala Rajapaksa International Airport is expected to deliver significant economic benefits by improving aviation safety, strengthening eco-tourism and enhancing Sri Lanka’s investment appeal, Wildlife Conservation Department Director General Ranjan Marasinghe said.

Speaking at the signing of a Memorandum of Understanding between the Department of Wildlife Conservation and Airport and Aviation Services (Sri Lanka) Limited, Marasinghe said the initiative links conservation directly with national development and revenue generation.

“This is more than an administrative step—it is a forward-looking initiative that aligns conservation, aviation safety and national development in a single strategic effort,” he said.

He noted that wildlife management at airports is globally recognised as essential for reducing bird strikes and wildlife-related disruptions, which can lead to costly repairs, delays and operational losses.

By proactively managing such risks, the Mattala Wildlife Unit is expected to lower potential costs for airlines and airport operators while improving efficiency and confidence among carriers considering future operations.

Marasinghe said the airport’s proximity to premier tourism destinations such as Yala National Park and Udawalawe National Park, together with marine tourism opportunities including Blue Whale watching, gives Mattala a strong commercial advantage.

“This convergence of aviation and wildlife tourism creates an extraordinary opportunity,” he said, adding that the airport has the potential to become a major gateway for high-value eco-tourism.

Industry observers note that wildlife tourists generally spend more on guided safaris, hotels, transport and local experiences, generating stronger foreign exchange earnings and employment opportunities for surrounding communities.

Marasinghe said integrating environmental standards into airport operations would also improve Sri Lanka’s global image at a time when investors and international travellers increasingly value sustainability.

“By integrating environmental considerations into airport operations, we position Sri Lanka more favourably on the global stage, demonstrating that we are a nation committed to sustainability, responsibility and innovation,” he said.

He expressed hope that the Mattala model would be replicated at other international airports, creating long-term savings, stronger environmental governance and wider economic returns.

The Director General said the Department of Wildlife Conservation remains committed to supporting the national economy through new and meaningful avenues while protecting Sri Lanka’s natural assets.

“Conservation must also contribute to development,” he said, stressing that protecting biodiversity and generating growth can go hand in hand.

By Ifham Nizam

Continue Reading

Business

Aitken Spence Elevators and CINEC usher in a new era for Sri Lanka’s elevator industry

Published

on

Aitken Spence Elevators, in collaboration with CINEC Campus, recently held the Certificate Awarding Ceremony for the latest batch of trainees of the Elevator Serviceman Course at the Elevator Training Centre (ETC). The graduates were awarded their NVQ Level 3 certifications, marking a significant milestone in their professional journey within Sri Lanka’s vertical transportation industry.

The certification programme was developed in partnership with the National Apprentice and Industrial Training Authority (NAITA) and the Ministry of Vocational Training & Skills Development, ensuring trainees received industry-recognised qualifications, alongside strong practical competencies. The ceremony was attended by directors of both Aitken Spence and CINEC Campus, as well as staff members, lecturers, and invited guests of the graduating students

Anuka Prashan Pieris was recognised as the Most Outstanding Student of the batch in appreciation of his exceptional performance and commitment throughout the programme. The Elevator Training Centre plays a vital role in addressing the growing demand for skilled elevator service technicians through structured training and hands-on learning. The facility features Sri Lanka’s first Elevator Training Tower, offering trainees practical exposure aligned with both local and international standards.

All graduates of the current batch have already commenced their careers as technicians and supervisors at Aitken Spence Elevators. Their seamless transition into the workforce reflects the programme’s strong emphasis on developing job-ready professionals capable of contributing effectively from day one.

Continue Reading

Business

Sterling Steels wins Merit Award at SLIA Annual Product Awards 2026

Published

on

COLOMBO, SRI LANKA– Sterling Steels (Pvt) Ltd, a premier manufacturer of high-quality globally renowned steel roofing & cladding, announced it has been honored with a prestigious Merit Award at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards 2026. The national recognition was awarded in the highly competitive Zinc-Aluminium Coated Profile Steel Sheet category, underscoring the company’s dedication to excellence, innovation, and superior quality in the Sri Lankan construction industry.

The award was presented during a grand ceremony held at the esteemed Nelum Pokuna Theatre, a key event in the nation’s architectural and construction calendar. The SLIA Annual Product Awards are widely regarded as a benchmark for quality and design excellence, with products rigorously evaluated by a panel of distinguished architects and industry experts. Receiving this Merit Award positions Sterling Steels among the top-tier suppliers of building materials in the country.

Continue Reading

Trending