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Finance minister’s Rs. 229 billion economic relief package buoys stock market

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By Hiran H.Senewiratne

The Colombo Stock Exchange (CSE), which kicked off with a bullish momentum on the previous day continued the same momentum yesterday with both indices sharply rising, recording a turnover of more than Rs. 10 billion.

The All Share Price Index surged by 174.72 points to close at a record all time high of 12,800.53, stock market analysts said.”The two days of trading saw net foreign buying of Rs. 13 million against a net annual outflow of over Rs. 50 billion in 2021 and 2020. The reason for the CSE to be more positive throughout the day was because it would be  the best investment option with the increase of money supply into the economy with the Minister of Finance Basil Rajapaksa’s economic relief package that was announced on Monday, worth 10 percent of projected 2022 revenues.

The total handout of  Rs 229 billion is about 1.2 percent of gross domestic product. It is 10 percent of the Rs 2,274 billion  revenues for 2022 already described as ‘ambitious’ by analysts and rating agencies.

Amid those developments both indices were positive. All Share Price Index up by 174.7 points and S and P SL20 up by 51.5 points. Although the first one and half hours indicated some profit takings, the market most of the time was positive, driven by LOLC group counters and other blue chip counters, stock market analysts said. Those companies were LOLC Holdings 67 points, LOLC Finance 39 points LOLC Development Finance 19.2 points contributed to the All Share Price Index.

Turnover stood at Rs 10.8 billion with four crossings. Those crossings were reported in NDB, which crossed 7.3 million shares to the tune of Rs 125.6 million and its share price traded at Rs 72, Sampath Bank one million shares crossed for Rs 52 million and its share price traded at Rs 52, Asia Siyaka Commodities ten million shares crossed for Rs 34 million and  its share price traded at Rs 3.40 and Renula Holdings 1.2 million shares crossed for Rs 25.2 million and its share price traded at Rs 21.

In the retail market top seven companies that mainly contributed to the turnover were LOLC Finance Rs 1.7 billion (60 million shares traded), Browns Investments Rs 788 million (45 million shares traded), Prime Lands Residencies Rs 621 million (46.2 million shares traded), Sunshine Holdings Rs 449 million (8.3 million shares traded), LOLC Holdings Rs 390 million (314,000 shares traded),  Expolanka Holdings Rs 341 million (893,000 shares traded) and Overseas Realities Rs 250 million (10.5 million shares traded). During the day 806 million share volumes changed hands in 76000 transactions.

Watawala Plantations, which is the market leader in palm oil in Sri Lanka share price appreciated by 16 percent or Rs 21.75. The reason being in the international market the palm oil price has gone up considerably. Therefore, its share price shot upto Rs 160 from Rs 138.25. The parent company of Watawala Plantations Sunshine Holdings share price also appreciated by 18 percent or Rs 8.80. Its share price shot upto Rs 57.80 from Rs 49.   The share price of LOLC General Insurance recorded a gain of Rs. 1.20 (5.85 percent) to close at Rs. 21.70. The share price of Expolanka Holdings appreciated by Rs. 11.50 (3.06 percent ) to close at Rs. 386.75.



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Indian business leader urges SL entrepreneurs to tap into India’s rapidly expanding consumer market

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T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL)

By Sanath Nanayakkare

Speaking at the Sri Lanka Economic and Investment Summit 2026, T. Krishnakumar, Chief Executive Officer of Reliance Consumer Products Ltd (RCPL), emphasised that local enterprises can unlock substantial economic benefits by strategically aligning with India’s booming consumer base.

Addressing business leaders and policymakers at the Shangri-La Hotel in Colombo, Krishnakumar highlighted that geographical proximity and rich cultural ties provide a natural foundation for deeper commercial collaboration.

He noted that instead of viewing bilateral trade narrowly, regional partnerships should act as conduits to build robust, scalable enterprises capable of plugging into wide-reaching regional value chains.

“For Sri Lankan exporters dealing in traditional staples as well as value-added goods, accessing India’s rising middle class presents a phenomenal growth window,” he said.

Drawing insights from Reliance Consumer Products’ rapid expansion – which scaled efficiently to thousands of employees and multi-billion-dollar metrics – Krishnakumar stressed that modern corporate success relies on disciplined execution, localised consumer understanding, and smart technology integration.

Furthermore, he underscored that while rapid growth is critical, businesses must consistently anchor their models in affordability and consumer trust.

Concluding his address at the summit, the RCPL chief noted that pairing regional trade integration with resilient business practices and predictable regulatory frameworks will be vital as Sri Lanka transitions firmly toward accelerated economic development.

Addressing the Summit during a subsequent fireside chat, President Anura Kumara Dissanayake underscored that a core concern currently being targeted by the government is developing a critical mass of local entrepreneurs equipped to engage with international enterprise counterparts.

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SriLankan Airlines wins prestigious SATA 2026 Visitors’ Choice Award for Leading International Airline

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SriLankan Airlines has once again been honoured with the prestigious Visitors’ Choice Award for Leading International Airline at the South Asian Travel Awards (SATA) 2026, reaffirming its continued recognition in the regional travel and tourism industry. The airline, which has received this award in previous years, was the only international airline to be recognised in this category at this year’s event. The 10th anniversary edition of the awards ceremony was held earlier this month at Hotel Barcelo Nasandhura in Male, Maldives.

Recognised as one of the key events on the Maldivian tourism and travel industry calendar, SATA celebrated its 10th anniversary on a grand scale, bringing together prominent industry stakeholders, including Government Ministers, distinguished dignitaries, diplomats and senior representatives from leading airlines and their respective head offices.

Commenting on the achievement, Dimuthu Tennakoon, Head of Commercial, SriLankan Airlines, stated, “We are honoured to receive this recognition at the South Asian Travel Awards 2026. Being named the Leading International Airline in the Visitors’ Choice Awards once again is a meaningful acknowledgement of our commitment to serving our passengers and strengthening our presence in the region. This award inspires us to continue enhancing the travel experience we offer and to build stronger connections with the markets and communities we serve.”

Complementing its commitment to service excellence, SriLankan Airlines offers an extensive flight network with convenient connections to destinations across the globe. In South Asia, the airline operates nearly 130 flights each week to 15 destinations across India, Pakistan, the Maldives, Nepal, and Bangladesh. With schedules thoughtfully designed to suit the needs of travellers, SriLankan Airlines provides seamless connectivity for those visiting Colombo for business or leisure, as well as passengers travelling onwards to destinations worldwide.

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JXG enters LMD’s Most Respected Entities in Sri Lanka 2026 for the first time, securing a place among the first 50

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Gamika de Silva, Group Chief Marketing Officer at JXG

JXG (Janashakthi Group), Sri Lanka’s leading financial conglomerate, has been ranked 44th in LMD’s Most Respected Entities in Sri Lanka 2026, marking the Group’s first appearance in the prestigious listing. The recognition places JXG among Sri Lanka’s most respected companies and marks an important milestone in the Group’s master-brand journey.

As the holding company, JXG was also recognised across key attributes including Aspirational Workplace, Business Expansion, Business Innovation, Corporate Culture, Corporate Dynamism, Crisis Management, Employee Wellbeing, Honesty and Integrity, and Leadership Profile. The recognition reflects the growing strength of the JXG brand and the collective contribution of its businesses and people in building trust and confidence among its stakeholders.

JXG’s subsidiaries, including Janashakthi Life and First Capital, have also been recognised in the main table of LMD’s Most Respected Entities 2026 rankings, while Janashakthi Finance has been recognised under the Business Expansion attribute, reflecting the strength of the Group’s individual businesses alongside its growing master brand.

Conceptualised and commissioned by LMD and conducted by PepperCube Research Consultants, the Most Respected Entities special edition recognises companies based on an independent survey of Sri Lanka’s business community.

Commenting on the recognition, Gamika de Silva, Group Chief Marketing Officer at JXG, said, “This is a proud moment for all of us at JXG. We set out to build a Group brand that is not just seen but lived by our people and reflected in everything we do. Ultimately, the true testament to any brand lies in its people, and the credit for this recognition goes to everyone across JXG who brings our values to life every day. This recognition is an encouraging milestone for us, while also reminding us to keep raising the bar and earning the respect of our stakeholders through what we do.”

JXG’s approach to building trust is anchored in its core values of Integrity, Collaboration, Respect, Performance Driven and Innovation. These values guide how its businesses operate, how its people engage with one another and how the Group serves its customers and wider stakeholders.

As JXG continues to expand its businesses, the Group remains focused on strengthening its market presence, creating long-term value and contributing to the growth of Sri Lanka’s financial services sector, guided by its purpose, Breaking Barriers, Forging Futures.

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