Some Dhammika Perera-controlled entities register gains

By Hiran H.Senewiratne 

CSE activities were bullish  yesterday and manufacturing sector counters, mainly  controlled by Dhammika Perera, witnessed considerable gains, especially Hayleys Group, Dipped Products and Royal Ceramic,  stock analysts said.

 Bourse continued its drive in a positive direction for the third consecutive session while sustaining its winning streak for the third consecutive day. Index experienced a zigzag movement throughout the day while reaching an intra-day high of 7,257  and recording a low of 7,209, while closing at 7,280  levels, gaining 25 points for the day. 

During the day, both indices  moved upwards. The All Share Price Index went up by 62.44 points and S and P SL20 rose by 60.18 points. Turnover stood at Rs. 2.48 billion, with a crossing. The crossing took place in Hayleys Group, which crossed 300,000 shares to the tune of Rs. 21 million. its share price being Rs. 70.

In the retail market, top six companies that mainly contributed to the turnover were,  Hayleys Group Rs. 364.6 million (five million shares traded), Dipped Products Rs. 263 million (5 million shares traded), Royal Ceramic Rs. 227.5 million (773,000 shares traded), Expolanka Rs. 201.1 million (4.3 million shares traded), Sampath Bank Rs. 150 million (2.8 million shares traded) and Sampath Bank Rs. 150 million (2.8 million shares traded). During the day 69.2 million share volumes changed hands in 23114 transactions.  

The  manufacturing sector companies that mainly witnessed gains were, Hayleys Group 9.5 percent or Rs. 6.40. Its shares started trading at Rs. 67.40, and at the end of the day they moved up to Rs. 73.80, Dipped Products witnessed a 10 percent or Rs. 5 gain. Its share price initially stood at Rs. 49.32 and at the end of day it shot up to Rs. 54.30, Royal Ceramic gained 10 percent or Rs. 27.25. Its shares started trading at Rs. 278.25 and at the end of the day they moved up to Rs. 305.50 and Expolanka experienced a 3 percent or Rs. 1.30 gain. Its shares began trading at Rs. 46.20 and at the end of the day they moved to Rs. 47.70.    

However,  plantation sector counters/stocks plunged after President Gotabhaya Rajapaksa said they would be required to uproot oil palm from the fields in stages and said imports of palm oil were banned from April 6. Coconut plantation shares soared.

Watawala Plantations plunged 8  percent, falling Rs. 4.20  to Rs. 53.00 during trading yesterday. Namunukula Plantations plunged seven  percent or were down to Rs.  170.20 , falling Rs. 7.

Kegalle Plantation fell 4.67 percent or Rs. 4.60 to trade at  Rs. 94  per share, Elpitiya Plantations fell Rs. 1.10  to Rs. 43.000  and Agalawatte Plantations fell 30 cents to trade at Rs. 27.70. 

Further, National Development Bank and Lankem Ceylon PLC announced right issues. Seylan Bank’s Rs. 6 billion worth listed debenture had been snapped up on its official opening day yesterday.