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LOLC counters continue momentum: main indices up

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By Hiran H.Senewiratne

The CSE yesterday gathered more momentum notwithstanding private sector concerns over some of the tax proposals in Budget 2022. The stock market was highly volatile throughout the day. It was positive at the beginning and selling pressure was witnessed during the middle of the day. However, during the latter part of the day, the CSE became positive because LOLC Group counters were able to maintain their momentum, stock market analysts said.

New buying interest was noted in tile sector and construction sector counters but profit takings appeared in LOLC Group counters. Both indices showed an upward trend. All Share Price Index went up by 16.56 points and S and P SL20 rose by 51.02 points. Turnover stood at Rs10.2 billion with a single crossing. The crossing was reported in Sunshine Holdings, which crossed 28 million shares to the tune of Rs 767 million and its shares traded at Rs 30.70.

Year-to-date return of ASPI crossed the 60 per cent mark yesterday to 62.50 per cent. S&PSL20 has seen a 36.7 per cent return. Market capitalization on the other hand is nearing the Rs. 5 trillion mark with the previous day closing being Rs. 4.912 trillion, up by 66% so far this year.

In the retail market, top seven companies that mainly contributed to the turnover were, LOLC Finance Rs 3.4 billion (95.7 million shares traded), Expolanka Holdings Rs 1.5 billion (6.9 million shares traded), Sunshine Holdings Rs 944 million (26.9 million shares traded), Browns Investments Rs 363 million (32.4 million shares traded), LOLC Holdings Rs 275 million (368,000 shares traded), Shaw Wallace Investment Rs 266 million (21.6 million shares traded) and Commercial Leasing and Finance Rs 207 million (2.6 million shares traded).

During the day Expolanka Holdings and Sunshine Holdings made some gains. Expolanka share price appreciated by five percent or Rs 11.75. Its share price started at Rs 215 and at the end of the day it shot up to Rs 236.75 and Sunshine Holdings share price appreciated by nine percent or Rs 2.90. Its share price started at Rs 32.50 and at the end of the day it moved up to Rs 35.20. During the day 384 million share volumes changed hands in 59000 transactions. Separately, Vidullanka announced an interim dividend of 175 cents (Rs. 0.175) per share.

It is said high net worth and institutional investor participation was noted in Vallibel One, Chevron Lubricants and Melstacorp. Mixed interest was observed in Expolanka Holdings, Browns Investments and Sunshine Holdings, while retail interest was noted in Lanka Orix Finance, SMB Leasing nonvoting and Lanka Credit and Business Finance Ltd.

Meanwhile, Capital Alliance Limited, a leading primary dealer company, will go for an initial public offering on November 25. The company will offer 41.7 million ordinary shares at a price of Rs 10 to raise Rs 411.7 million. It will be listed in the Divisavi Board. The objective of the IPO is to improve the co-capital requirement of the company.

Yesterday, the US dollar rate was Rs 201.34, which was the Central Bank controlled price to prevent price escalation of essential imported items into the country. The actual price of a US dollar would be more than Rs 130.



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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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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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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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