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ASPI records biggest single day points gain as LOLC drives extremely bullish market

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Hiran H.Senewiratne 

The CSE was extremely bullish yesterday and it was mainly driven by the LOLC Group of companies headed by Ishara Nanayakkara, stock market analysts said. Both indices were positive. The ASPI  recorded the biggest single day points gain in history with 332.16 points, setting a new all time high with the index closing at 8 463.43 points. S and P SL20 was up by 117.34 points.

Main companies that contributed to the ASPI were, LOLC, Carsons, Browns Investments, Expolanka and JKH. Those companies were main gainers in the market and their share prices appreciated during the day. LOLC share price moved up by 25 percent or Rs. 70.25. Its shares started trading at Rs. 281 and at the end of the day they moved up to Rs. 351.25 ( Its contribution to the ASPI 76 points), Expolanka shares appreciated by 8.7 percent or Rs. 4.40, Its shares started trading at Rs. 50.70 and at the end of the day they moved to Rs. 55.10  (Its contribution to the ASPI  was 20 points).

Browns Investments shares appreciated by 25 percent or Rs. 42. Its shares started trading at Rs. 162 and at the end of the day it moved to Rs. 168  (Its contribution to the ASPI was 20 points). JKH shares appreciated by 4 percent or Rs. 6. Its shares started trading at Rs. 162 and at the end of the day they moved to Rs. 168 (Its contribution to the ASPI was 18 points). Carsons shares appreciated by 24 percent or Rs. 74.25. Its shares started trading at Rs. 305.75 and at the end of the day they moved to Rs. 380 (Its contribution to the ASPI was 33 points).

During the day turnover reached Rs. 12.8 billion with ten crossings. Those crossings were in Commercial Bank, which crossed 3.2 million shares to the tune of Rs. 307.3 million, its shares traded at Rs. 99, JKH 1.4 million shares crossed for Rs. 245 million, its shares traded at Rs. 168, CT Holdings one million shares crossed for Rs. 172.8,Mililion its shares traded at Rs. 172.8, Expolanka two million shares crossed for Rs. 112 million, its shares traded at Rs. 56, Cargills 391 million shares crossed for Rs. 86.5 million, its shares traded at Rs. 225.

Meanwhile, Sampath Bank 500,000 shares crossed for Rs. 56 million, its shares trading at Rs. 140, HNB 400,000 shares crossed for Rs. 56 million, its shares traded at Rs. 140, Tokyo Cement (Non Voting) 375,000 shares crossed for Rs. 29.6 million, its shares fetched Rs. 79, Central Finance 270,000 shares crossed for Rs. 26.7 million, its shares traded at Rs. 99 and Lion Brewery 45000 shares crossed for Rs. 26.1 million, its shares trading at Rs. 580.

In the retail market top five contributors to the turnover were, LOLC Rs. 1.8 billion (5.4 million shares traded), Expolanka Rs. one billion (18.6 million shares traded), Dipped Products Rs. 589 million (one million shares traded), Browns Investments Rs. 547 million (79 million shares traded) and JKH Rs. 485 million (2.9 million shares traded). During the day 590 million share volumes changed hands in 16387 transactions. 

Meanwhile, First Capital has announced a debenture issue to raise Rs. 2 billion in order to do future expansions and developments, its sources said.  

Sri Lanka’s rupee was quoted weaker around 197.50/199.50 to the US dollar in the spot next market on Friday, while bond yields were up marginally, dealers said. Rupee last closed around 197.00/198.00 in the spot-next market on Thursday against the greenback.



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Hemas Consumer strengthens portfolio with L’Oréal partnership in Sri Lanka

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Hemas Consumer, the leading manufacturer and distributor in Sri Lanka’s beauty and personal care sector has strengthened its portfolio of offerings in a groundbreaking partnership with the world’s number one beauty company, L’Oréal. With this partnership Hemas Consumer obtains distributor rights to leverage its sales network and innovative marketing approaches in taking L’Oréal’s wide range of beauty and personal care brands across Sri Lanka.

Commenting on the new partnership, Sriyan de Silva Wijeyeratne, Managing Director, Hemas Consumer & Executive Director Hemas Group said, “We have spent over fifty years building successful and strong consumer brands in Sri Lanka. In keeping with our promise of consumer delight and trust, we are elated to partner a world-class cosmetics group like L’Oréal expanding our existing portfolio with the world’s most sought-after beauty and personal care products.

We are well equipped in our distribution process with island-wide sales channels to serve all parts of the country. I believe this partnership will revolutionize Sri Lanka’s beauty care industry and more prospects await as we continue to look ahead with L’Oréal.”

Sabrina Esufally, Director Business Development and Innovation at Hemas Consumer said, “This partnership will enable Sri Lankans to access the iconic brands and solutions created through years of research and innovation by L’Oréal. In the fast evolving and dynamic beauty industry, the combined strength of Hemas’s local heritage and penetration, and L’Oréal’s global technology and trust is the perfect recipe for consumer delight.”

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DFCC Bank supports industrial excellence by partnering CNCI Achiever Awards

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DFCC Bank PLC, stepped up once again for the 3rd consecutive year to partner with the Ceylon National Chamber of Industries (CNCI) as the principal sponsor and official banking partner of the CNCI Achiever Awards 2020.

The CNCI Achiever Awards was held for the 19th consecutive time to recognize the outstanding efforts of exceptional performers who have molded their respective industries with innovative solutions, while overcoming challenges and meeting the demands of their clientele. This year, the event was recently held under strict health guidelines at the Galadari Hotel in Colombo. 

Commenting on the sponsorship, Chief Executive Officer of DFCC Bank PLC Lakshman Silva stated, “We are pleased to have partnered with the Ceylon National Chamber of Industries (CNCI), as the Main Sponsor and Official Banking Partner of the 19th CNCI Achiever Awards 2020. DFCC is honored to partner in reconciling successful Sri Lankan businesses from various industrial sectors. Our partnership with this prestigious awards programme aligns seamlessly with our commitment to foster and reward industrial growth across the country and support local entrepreneurs in MSME & SME sectors.”

 

 

 

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Lanka SSL triumphs with National Gold and Top Ten Awards

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CNCI Achiever Awards 2020

Lanka Special Steel Limited (Lanka SSL), a trusted name in wires and a fully-owned subsidiary of E B Creasy & Company PLC, was recently awarded the coveted National Gold Award under the Extra Large category in the Manufacturing Sector at the Achiever Awards 2020 for Industrial Excellence.

The annual event organized by the Ceylon National Chamber of Industries (CNCI) was held in March 2021 at Colombo, and celebrated some of the leading industrialists in the country for their tremendous and continued efforts in uplifting and promoting quality standards, productivity, growth and strategy, R&D, employee welfare and others whilst contributing to both the society and economy at large.

‘We are immensely proud to have been recognized with two very prominent awards at this year’s CNCI Achiever Awards. It is a huge leap from just winning a Merit Award the last time around, and this incredible achievement certainly reflects our highly ambitious plans to strive for continued excellence. We would like to thank our valued customers and all stakeholders. We are grateful to our hardworking and committed staff at Lanka SSL who have made this possible,’ said Pravin De Silva, CEO of Lanka SSL.

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