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Nine crossings lend sparkle to share market; indices at their highest over past 52 trading weeks

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By Hiran H.Senewiratne

Stock trading began on a negative note yesterday due to profit takings. Subsequently though, it turned extremely bullish due to positive and market- friendly speculation on the external debt restructuring exercise. This scenario positively impacted the local banking sector, which performed well on the trading floor from the beginning of the session until the end, as in the case of the previous day, market analysts said.

Both indices moved up to their highest levels after 52 trading weeks. Moreover, 148 countries’ share prices increased while only 67 counters moved downwards during the day.The All Share Price Index went up by 115.96 points while S and P SL20 rose by 53.02 points. Turnover stood at Rs 2.9 billion with nine crossings.

Those crossings were reported in Sampath Bank, which crossed 1 million shares to the tune of Rs 85.6 million; its shares traded at Rs 78.50, HNB 390,000 shares crossed for Rs 76.3 million; its shares traded at Rs 197, Lankem Development 4.5 million shares crossed for Rs 76.5 million; its shares traded at Rs 17, Sierra Cables 6.6 million shares crossed to the tune of Rs 72.6 million; its shares sold at Rs 11, Commercial Bank 500,000 shares crossed for Rs 52.5 million and its shares traded at Rs 105, LOLC Holdings 100,000 shares crossed for Rs 40 million; its share fetched Rs 400, Central Finance 287,000 shares crossed for Rs 31.9 million, its shares traded at Rs 111 , NDB 314,000 shares crossed to the tune of Rs 22.9 million; its shares fetched Rs 73and JKH 101,000 shares crossed to the tune of Rs 20.1 million, its shares traded at Rs 199.

In the retail market top five companies that mainly contributed to the turnover were; HNB Rs 578 million (2.8 million shares traded), Commercial Bank Rs 272 million (2.6 million shares traded), Pan Asian Bank Rs 108.6 million (4.8 million shares traded), Sampath Bank Rs 107.3 million (1.4 million shares traded) and Lanka IOC Rs 73.8 million (608,000 shares traded). During the day 83.1 million share volumes changed hands in 16000 transactions.

Yesterday, the rupee opened at Rs 299.35/55 to the US dollar in the spot forex market, stronger from 299.70/80 on the previous day, dealers said, while bond yields were steady. A bond maturing on 15.12.2026 was quoted stable at 11.35/45 percent. A bond maturing on 15.09.2027 was quoted at 11.90/12.00 percent from 11.95/12.00 percent. A bond maturing on 15.12.2028 was quoted stable at 12.15/25 percent.



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Hour of reckoning comes for SL’s power sector

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Eng. Pubudu Niroshan

By Ifham Nizam

A long-delayed reckoning in Sri Lanka’s power sector is finally beginning to take shape—driven less by choice and more by necessity.

At a time when the country’s fragile economic recovery hinges on stability, the electricity sector—long plagued by inefficiency, political interference, and costly dependence on imported fuel—has re-emerged as both a risk and an opportunity.

It is within this context that The Institution of Engineers, Sri Lanka will host a timely and potentially consequential forum on April 2 at the Wimalasurendra Auditorium, focusing on a “Pragmatic Approach to Electricity Sector Reforms in Sri Lanka and the Way Forward.”

This is not just another technical discussion. It is, in many respects, a reality check.

The keynote address by Eng. Pubudu Niroshan—who stood at the centre of recent reform efforts as Director General of the Power Sector Reforms Secretariat—comes at a moment when the gap between policy ambition and execution has become impossible to ignore.

For over three decades, Sri Lanka has spoken the language of reform. Yet, time and again, progress has been derailed by institutional resistance, political hesitation, and an entrenched reluctance to dismantle inefficient structures.

The result is a sector that continues to bleed financially while passing the burden onto consumers and the broader economy.

High electricity tariffs, supply vulnerabilities, and operational inefficiencies are no longer isolated technical issues—they are macroeconomic threats. Industries struggle to remain competitive, investors remain cautious, and households continue to bear rising costs. The over-reliance on imported fossil fuels has only deepened this vulnerability, exposing the country to global price shocks and geopolitical disruptions.

The economic crisis of 2022 briefly forced a shift in thinking. Under severe fiscal pressure, reform was no longer optional. The passage of the Sri Lanka Electricity Act, No. 36 of 2024 was seen as a breakthrough—an acknowledgment that structural change could no longer be postponed.

But legislation alone does not transform systems.

What has followed is a more grounded, outcome-driven approach—one that attempts to move beyond policy rhetoric. Within a relatively short span, the first phase of restructuring has been pushed through, including the repeal of the decades-old CEB Act, No. 17 of 1969, and the unbundling of the monolithic utility into six state-owned entities.

This is, by any measure, a significant structural shift.

Yet, the real test lies ahead.

Unbundling without genuine market discipline risks becoming another cosmetic exercise.

The promise of a competitive National Electricity Market—long discussed but never realized—will depend heavily on regulatory strength, transparency, and political consistency. Without these, the same inefficiencies could simply be replicated across multiple entities.

Moreover, reform cannot succeed in isolation.

Sri Lanka’s energy transition must be anchored in a broader economic strategy—one that aligns power sector reforms with industrial growth, environmental sustainability, and investment policy.

The proposed “Energy Transition Act,” now under consideration, will be a critical piece of this puzzle. If executed with clarity and discipline, it could provide the legal backbone for a coherent and forward-looking energy framework.

The reference to an Integrated Economic Development Framework (IEDF) in the 2026 Budget underscores this necessity. Energy is not a standalone sector—it is the foundation upon which economic recovery will either stand or falter.

What makes this moment different is the absence of alternatives.

Sri Lanka can no longer afford half-measures or delayed decisions. The cost of inaction is too high, and the margin for error too narrow. Reform, in this sense, is no longer a policy preference—it is an economic imperative.

The upcoming forum at The Institution of Engineers, Sri Lanka is therefore more than a professEng. Pubudu Niroshanional gathering. It is a critical platform where technical expertise must confront political reality, and where long-standing assumptions must be challenged.

For years, Sri Lanka’s electricity sector has been caught in a cycle of discussion without delivery. The shift toward a pragmatic approach signals an understanding that outcomes—not intentions—will define success.

The question now is whether that realization will finally translate into sustained, irreversible change.

Because this time, failure is not just an option—it is a risk the country simply cannot afford.

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Dialog introduces Samsung Galaxy S26 Series with AI-powered camera and 5G Connectivity

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From left to right: Shiromy Ali, Assistant Vice President, Group Corporate Planning & Strategy, Dialog Axiata PLC; Hemaka Balasooriya, Chief of Dialog Business Services, Dialog Axiata PLC;  Shanaka Fernando, First Pre-order Customer; Sang Hwa Song, Managing Director, Samsung

Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, announced the availability of the Samsung Galaxy S26 Series in Sri Lanka through its retail and digital channels, bringing Samsung’s latest flagship smartphone lineup to local consumers. The series includes the Galaxy S26, Galaxy S26+, and Galaxy S26 Ultra, combining advanced AI-powered capabilities, premium design and next-generation connectivity for everyday mobile use, with customers able to experience the power of Dialog 5G Ultra on the devices.

The Samsung Galaxy S26 Series introduces an AI-powered camera system featuring a 200MP AI-enhanced rear camera with improved low-light performance, advanced zoom and intelligent editing tools for capturing and refining content directly on the device. The lineup also includes Galaxy AI capabilities, a privacy display that limits viewing angles to protect on-screen information, and steady video functionality for smoother and more stable video recording.

The Galaxy S26 Series features Dynamic AMOLED displays across the lineup, including a 6.3-inch Galaxy S26, 6.7-inch Galaxy S26+, and 6.9-inch Galaxy S26 Ultra, supporting smooth performance for streaming, gaming and everyday productivity. The devices are available with 12GB RAM and storage options of 256GB or 512GB, while the Galaxy S26 Ultra also offers a 16GB RAM variant with up to 1TB storage for users requiring additional capacity.

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Ideal Motors celebrates gala ‘Excellence Awards’ honouring outstanding performance

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The Mahindra Ideal Excellence Awards ceremony, a grand celebration to recognize dealers and other stakeholders of Ideal Motors, was held at the Wave n’ Lake Banquet Hall & Restaurant in Welisara recently.

The event was graced by the presence of special guests including Nalin Welgama, Founder and Chairman Ideal Motors, Dilani Yatawaka, Group Managing Director/CEO Ideal Motors, Nimisha Welgama, Director Legal and Corporate Affairs Ideal Motors, Sachin Arolkar, Head International Operations, Auto Division Mahindra & Mahindra India. Senthil Selvaraju, Head International Operations and Customer Service Automotive Division Mahindra & Mahindra India, Sujeeth Jayant, Country Head Mahindra & Mahindra India and Shitam Kundu, Head Domestic Services Mahindra & Mahindra India.

Also, in attendance from Ideal Motors were Kasun Fernando, General Manager Commercial Vehicle Sales Division, Sameera Bamunuarachchi, Deputy General Manager Spare Parts, Logistics & Inventory and Prasanna Manamperi, Deputy General Manager After Seles Service.

The Excellence Awards ceremony honoured the top sales dealers at the provincial and national levels. Recipients were presented with awards, certificates of merit, and cash prizes in recognition of their achievements. The three best national‑level sales dealers from the various categories were further rewarded with an opportunity to visit Bangkok, Thailand. In addition, special recognition was extended to banks and financial institutions that partner with Ideal Motors.

Speaking at the event, Nalin Welgama Ideal Motors Founder and Chairman said, “When we began our journey with Mahindra in 2009, the previous company had sold 300 vehicles in the country, of which nearly 150 had various defects. At that time our journey began by engaging with the parent company in India and repairing those vehicles free of charge. That commitment has brought us to where we are today. As we believe, our journey truly begins after the sale. We are dedicated to strengthening our customers, and in doing so, strengthening ourselves. That is how we transformed the after‑sales service experience.”

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