Four companies on CSE Watch List

By Hiran H.Senewiratne

Four listed companies, namely, Blue Diamonds Jewellery, Mackwoods Energy PLC, Anilana Hotels and Properties PLC and Tess Agro PLC are likely to be suspended from trading, CSE sources said.

A notice issued by the CSE stated that these trading companies were on its Watch List and will be suspended with effect from February 24, 2020 in terms of Rule 7.4 (c) (vii) of the CSE Listing Rules (Enforcement Rules), unless the companies comply with the relevant listing regulations on or before February 20, 2020.

Specifically, these companies are to be suspended on account of not submitting Interim Financial statements for the quarter ended September 30, 2019.

Amid these developments, CSE market activities were negative in nature yesterday due to external and internal environmental issues. The day's turnover stood at Rs 262.9 million and no arranged transactions or crossings took place during the day.

Both CSE indices reported negative, ie, the All Share Price Index went down by 21.14 points and S and P L20 declined by 8.74 points.

In the retail market, companies that mainly contributed to the day's turnover were; JKH Rs. 118.6 million (760,000 shares traded), Commercial Bank Rs 15.2 million (173,000 shares traded), Union Bank Rs 12.4 million (one million shares traded), CTC Rs. 8.1 million (7000 shares traded) and Sampath Bank Rs 6.9 million (43,000 shares traded). During the day 10.2 million share volumes were traded in 3943 transactions.

CTC gained Rs 3.30 to Rs 1,150.00 per share, Melstacorp shares moved up 50 cents to Rs 38.00 a share and Browns Investment gained 10 cents to Rs. 5.10 a share, contributing to the ASPI’s gain.

In the secondary government securities market, bond yields remained flat in moderate trade, where 2024 bond maturities were the most liquid, a dealer said.

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