Connect with us

Business

CSE declines with profit- taking and dims with electricity tariffs hike

Published

on

The stock trading at CSE yesterday kicked off with a positive note, but nevertheless turned less dynamic later in the day due to profit takings, thus ending a spate of upward trend in trading.This, however, appeared to be fair as investors rightfully utilized the opportunity to reap benefits from it.

Furthermore, the electricity tariff increase also had a direct bearing on the market to move downward yesterday, market analysists said.

Amid those developments both indices moved downward. All Share Price Index down by 20.6 points while S and P SL20 down by 13.63 points. Turnover stood at Rs 3.7 billion with five crossings.

Those crossings were reported in Sampath Bank which crossed 814,000 shares to the tune of Rs 98.7 million and its share price traded at Rs 122, Overseas Realities 2.7 million shares crossed to the tune of Rs 72.9 million and its share price traded at Rs 27, Ceylon Cold Stores 350,000 shares crossed to the tune of Rs 40.2 million and its share price traded at Rs 116, People’s Leasing and Finance two million shares crossed to the tune of Rs 37 million and its share price traded at Rs 18.50 and Singer (Sri Lank) 655,000 shares crossed to the tune of Rs 27.5 million and its share price traded at Rs 42.

In the retail market top six companies that have mainly contributed to the turnover were Sampath Bank Rs 207.7 million (1.7 million shares traded), LB Finance 158 million (1.3 million shares traded), Central Finance Rs 144 million (590,000 shares traded), Seylan Developments Rs 140 million (4.7 million shares traded), Lanka Aluminium Rs 131 million (three million shares traded) and Prime Lands Rs 126 million (8.4 million shares traded). During the day 171 million share volumes changed hands in 28000 transactions.

It is said that banking and finance sector led the market especially Sampath Bank crossing and retail transaction, while realestate sector also performed well especially Prime Lands and Overseas Realities. Furthermore, manufacturing sector also performed well.

Further, LOLC Finance has decided to repurchase 3,519,065,138 of issued shares to optimize its shareholder value the company sources said.

The total number of shares in issue is 33,079,212,299.

LOLC Finance is offering to buy a share at Rs 6 each.The share was trading down at 6.10 on Thursday.

The offer to repurchase is effective from June 30 to July 8.

Yesterday, the Central Bank announced the US Dollar rate as against rupee. The rupee was trading at Rs 298.98/299.02 to the US dollar in the spot market , broadly steady against previous day close of Rs 298.98/299.05, dealers said, while bond yields were down amidst the ongoing auction.

A bond maturing on 15.03.2028 was quoted at 8.65/75 percent, from 8.67/74 percent.

A bond maturing on 15.09.2029 was quoted at 9.35/40 percent.

A bond maturing on 15.12.2029 was quoted at 9.45/50 percent, down from 9.48/52 percent.

A bond maturing on 15.03.2031 was quoted at 9.90/95 percent, from 9.90/10.00 percent.

A bond maturing on 15.12.2032 was quoted at 10.15/25 percent.

An issue of Rs.111,000 million Treasury Bonds was ongoing.

By Hiran H Senewiratne ✍️



Continue Reading
Click to comment

Leave a Reply

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

Business

India’s rise in manufacturing sector seen as holding out possibilities for SL

Published

on

India’s rise in manufacturing sector seen as holding out possibilities for SL

India’s rapid rise as a global manufacturing hub and consumer market is reshaping South Asia’s apparel landscape, creating both urgency and opportunity for Sri Lanka to reposition itself through deeper regional integration, Acting Indian High Commissioner to Sri Lanka Dr. Satyanjal Pandey said recently at the Sri Lanka Apparel Exporters Association (SLAEA) Annual General Meeting in Colombo.

Addressing industry leaders at Cinnamon Life, Dr. Pandey said the next phase of growth in South Asian apparel will be driven not by competition within the region, but by collaboration across it, particularly between India and Sri Lanka.

“India and Sri Lanka bring very different but highly complementary strengths, he said. “India offers scale, raw materials, a vast labour pool and a rapidly expanding domestic market. Sri Lanka brings world-class manufacturing standards, compliance, speed, flexibility and trusted relationships with premium global brands. Together, these strengths can create globally competitive regional value chains.”

Dr. Pandey revealed that India had concluded a major trade agreement with the European Union earlier in the day, granting tariff-free access across more than 9,000 product lines, including apparel, with tariffs reduced from 12 percent to zero.

The agreement, he noted, reinforces India’s growing centrality in global trade and underscores the need for Sri Lanka to move swiftly in aligning its trade and investment strategies with regional developments.

He stressed that India’s objective is not to displace Sri Lankan apparel producers, but to grow together in an increasingly complex global market where buyers are demanding resilience, sustainability and regional diversification.

India today is one of the world’s fastest-growing major economies, with a large and youthful population, expanding middle class and rising apparel consumption. For Sri Lankan manufacturers, this presents opportunities not only as a sourcing partner, but also as an export destination for value-added apparel, technical textiles and sustainable fashion.

Against this evolving landscape, Sri Lankan industry leaders highlighted the urgency of aligning domestic policy and regulatory frameworks with India’s accelerating trade momentum.

Sri Lanka Exporters Association chairperson Ms. Rajitha Jayasuriya said global regulatory compliance has become a prerequisite for market access, particularly in Europe.

She pointed to the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), enhanced traceability requirements and Digital Product Passports (DPPs) as measures that will increasingly shape trade flows.

“These are no longer optional standards. They are a licence to operate, she said, adding that Sri Lanka must urgently build national support systems to help SMEs and supply chain compliance through transparency, sustainable materials and robust data systems.

Jayasuriya warned that failure to secure the renewal of Sri Lanka’s GSP Plus facility would further weaken competitiveness, especially as India strengthens its trade position with the EU.

“With India moving ahead rapidly, Sri Lanka must mobilise faster to protect preferential access and avoid erosion of market share, she said.

India also featured prominently in the industry’s forward-looking trade agenda.

Jayasuriya said priorities for 2026 include securing quota-free access to the Indian market, ensuring predictable trade flows and deepening Sri Lanka’s integration into India-centric regional value chains.

“A stronger India–Sri Lanka apparel corridor is not just an economic opportunity; it is a strategic imperative, she said.

Policy reform at home was identified as a critical enabler of regional integration.

Jayasuriya called for accelerated digital reforms, including the introduction of a fully fiscalised e-invoicing system for exporters, to improve liquidity, compliance and transparency.

She noted that countries such as India have already moved ahead in this area, strengthening their competitiveness.

The apparel industry’s performance in 2025, she said, demonstrated what is possible when factory-level resilience is matched by responsive policymaking. However, she cautioned that regional competitors such as Cambodia, Vietnam and Bangladesh continue to move aggressively on scale, automation and trade agreements.

By Ifham Nizam

Continue Reading

Business

Arpico NextGen Mattress gains recognition for innovation

Published

on

(From Left – Right) Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, represented by Lalith Wijeyesinghe, Managing Director, and Jayanatha Alwis, Deputy General Manager - Manufacturing, accept the award and certificate for the Innovative Product of the Year Award

Arpico, the longstanding frontrunner in Sri Lanka’s mattress industry, recently received the award for 2nd Runner-Up in the category of Innovative Product of the Year at the 2025 PRISL Industry Awards. Hosted by the Plastic and Rubber Institute of Sri Lanka (PRISL), the awards honour outstanding industry contributions to the plastics, rubber, latex, and recycling sectors.

Awarded for Arpico’s NextGen mattress, the recognition reaffirmed the company’s commitment to crafting state-of-the-art sleep solutions and providing its customers with seamless retail experiences.

The Arpico NextGen mattress stands as a distinctive example of Arpico’s vision. With its inclusion of profile-cut air-cooling pocket technology, the NextGen mattress is the product of intensive research and development, designed to align with Arpico’s mission to innovate products that enrich everyday living. Built using cutting-edge German Computer Numerical Control (CNC) foam-cutting technology, the NextGen’s design aims to amplify cooling, essentially enhancing sleep quality through its superior comfort, adaptive support, and long-lasting performance, allowing sleepers to wake rejuvenated.

Discussing the award, Lalith Wijeyesinghe, Managing Director of Arpitech (Pvt) Ltd, Richard Pieris & Company PLC, said, “The award is a testament to the efforts and ingenuity of our team, led under the visionary guidance of our Group Chairman, CEO, and Managing Director of Richard Pieris & Company PLC, Dr Sena Yaddehige. It reaffirms our endeavours to design products that integrate emerging technologies for the benefit of our customers. Furthermore, we recognise the award as an incentive to continue pushing the boundaries of our achievements and pursue ever greater heights of success.”

 Arpitech (Pvt) Ltd is a leading trailblazer in polyurethane foam and spring mattresses, sheets, cushions, and siliconised fibre pillows, backed by a corporate legacy spanning over four decades of manufacturing excellence. The company upholds the highest quality standards, having secured the prestigious ISO 9001:2015 certification. Furthermore, Arpico adheres to the SLS standard for its acclaimed Arpifoam. Renowned as a trusted brand, Arpitech (Pvt) Ltd draws from the 90-year legacy of its parent company, the Richard Pieris & Company PLC. From a modest beginning as a filling station in 1932, Richard Pieris & Company has grown into one of Sri Lanka’s most diversified business conglomerates with interests in retail, plantations, rubber, furniture, tyres, plastics, insurance, stockbroking, financial services, and logistics. It is one of the largest listed entities on the Colombo Stock Exchange, with a remarkable annual turnover.

Continue Reading

Business

Advice Lab unveils new 13,000+ sqft office, marking major expansion in financial services BPO to Australia

Published

on

Advice Lab, a leading provider of financial services BPO solutions to the Australian market, announced the opening of its new 13,000+ square‑foot office in Colombo, one of the most modern and dynamic workspaces in Sri Lanka. The move marks a significant milestone in the company’s rapid growth as a BPO and highlights its ongoing commitment to creating valuable job opportunities across Sri Lanka’s professional workforce.

The state‑of‑the‑art facility has been thoughtfully designed to support the company’s expanding operations and its growing portfolio of Australian financial advisers, accountants, and mortgage professionals. Purpose‑built for scale and efficiency, the workspace accommodates larger teams and advanced technology infrastructure while prioritizing employee well‑being and productivity. This emphasis on a people‑first culture is reflected in the inspiring, comfortable, and energizing environment created throughout the new office.

Continue Reading

Trending