Connect with us

Business

Bounce in banking sector

Published

on

By Hiran H.Senewiratne 

Banking sector counters at the CSE witnessed some gains yesterday following the Central Bank’s decision to review the ruling that prevented banks from paying dividends to shareholders  for 2020 due to the pandemic situation in the country, market analysts said. 

Commercial Bank share prices moved up by Rs. 2.20 or 2.8 percent. Its shares started trading at Rs. 78.80 and at the end of the day they moved up to Rs. 81, HNB shares moved up by Rs. 3.90 or 3.5 percent. Its shares started trading at Rs. 115.10 and at the end of the day they moved up to Rs. 119, Sampath Bank  shares moved up by Rs. 3.20 or 2.6 percent. Its shares moved up to Rs. 128.90 from Rs. 125.70 and NDB share prices moved up by Rs. 1.90 or 2.6 percent. Its shares started at Rs. 74.10 at the end of the day they moved up to Rs. 76.

The CSE closed positive yesterday enabling it to end November with a 9 percent  gain.  Both indices moved up, i.e., the All Share Price Index went up by 73.70 points and S and P SL-20 by 44.05 points. The turnover stood at Rs. 2.54 billion with tree crossings. Those crossings were reported in Aitken Spence, which crossed 900,000 shares to the tune of Rs. 45.5 million and its shares traded at Rs. 51, JKH 250,000 shares crossed for Rs. 37.3 million, its per share value Rs. 149 and Distilleries 1.5 million shares crossed for Rs. 31.3 million, its shares trading at Rs. 21.50.

In the retail market top five companies that contributed to the turnover were, ACL Cables Rs. 151,5 million (2.1 million shares traded), Expolanka Rs. 136.3 million (five million shares traded), Melstacorp Rs. 135.5 million (3.1 million shares traded), Commercial Bank Rs. 120.6 million (1.5 million shares traded) and Aitken Spence Rs. 108.8 million (2.1 million shares traded). During the day  112 million share volumes changed hands in 25152 transactions.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

SLT-MOBITEL AkazaLMS enables corporate employee capability development

Published

on

As SLT-MOBITEL, the National ICT solutions service provider, continues to play a pivotal role in driving Sri Lanka’s digital transformation through its Cloud-managed offering, SLT-Mobitel AkazaLMS takes centre-stage as the nation’s leading Learning Management System (LMS). SLT-Mobitel AkazaLMS offers a unique, locally developed, comprehensive enterprise learning solution designed to cater to diverse training needs without compromising on quality.

Commenting on the initiative Chief Enterprise & Wholesale Officer of SLT, Lakmal Jayasinghe said “Especially in today’s competitive environment where human capital is more important than ever, companies need to create a learning strategy that aligns to robust curricula, employing relevant and available learning methods and technology. Addressing this need, SLT-Mobitel AkazaLMS Cloud is an enterprise e-learning solution hosted in Sri Lanka on the top of a private cloud, providing corporate and institutional customers the ability to deliver their own learning material to their users with zero cost infrastructure. With greater convenience and without additional IT resources, customers have access to their own training needs via a simple web browser”.

Empowering corporates and educational institutes, SLT-Mobitel AkazaLMS is a comprehensive locally developed platform, containing a self-portal where the user develops their own e-learning and purchase it as a SaaS product. Especially during these challenging times, when classroom lectures are not possible and distance learning methods vital, the SLT-Mobitel AkazaLMS facilitates exams, assignments, quizzes, etc. tailor-made and customised for corporates and educational institutes targeting their own specific needs.

Continue Reading

Business

LIOC shows stability in earnings and margins compared to volatility during previous years

Published

on

First Capital expects stability in LIOC earnings and margins ahead, compared to the significant volatility witnessed during the previous years.

“With the new pricing formula, we expect a stable outlook for LIOC which is currently trading at a TTM PER of 7.5x on FY22 earnings while also trading at a PBV of 1.5x”, they said.

“The government’s implementation of the new fuel pricing formula on 24th May 22 includes all costs incurred in importing, unloading, distributing to the stations and taxes. With that, fuel prices will be revised on a monthly basis, and if necessary, it will be reviewed every two weeks. Accordingly, the next price revision was scheduled for 24th Jun 22. Considering the price revision, In addition to that, Sri Lanka’s Cabinet has approved a bill to impose a 2.5% tax on companies with an annual turnover of LKR 120.0Mn, which will only have a marginal effect on company margins.”

“With regards to investment in joint venture, LIOC has invested in Trinco Petroleum Terminal (Pvt) Ltd (TPT) in Jan-22 and acquired 49% of the stake with CPC which holds 51% of the ownership of TPT in order to develop 61 tanks at the Trincomalee Oil Tank Farm and allied facilities in the Upper Tank Farm of the China Bay Oil Tank Farm. Also, LIOC has entered into a Lease of State Land with the Government of Sri Lanka for a term of fifty years to develop the Lower Tank Farm of the China Bay Oil Tank Farm,” First Capital said.

Continue Reading

Business

Apprenticeship programme in partnership with Hatch MakerStudio and Vocational Training Authority

Published

on

From left: : Krishantha Pathiraja, Chairman at Palmyrah Development Board, Florian Manderschied, Head Maker at Hatch MakerStudio, Brindha Selvadurai, CEO and Co- Founder, Hatch, Eranga Basnayake, CEO and Chairman of Vocational Training Authority, Mahesh Ariyarathne, Vice Chairman of VTA

The next generation of Sri Lanka’s industry workforce is currently studying at Technical and Vocational Education and Training institutes (​​TVET) all over the country. Since the manufacturing technology is under permanent development, the requirements for TVET graduates have also evolved. In order to address the industry’s needs for skilled and competent workers, the Vocational Training Authority and Hatch MakerStudio have joined forces to pilot an innovative apprenticeship programme.

The apprenticeship programme is designed for students in the field of mechatronics, robotics, automation and CNC-technologies and is focusing on the upskill, entrepreneurial mindset and problem solving capabilities. Together with industry partners, the selected apprentices will undergo a one month training programme at Hatch MakerStudio before being placed in the companies. The programme comprises of:

Product development training

Software and rapid prototyping training

Problem solving and design thinking exercises

During the course of the apprenticeship, Hatch MakerStudio will provide supervision and support for both the apprentices and companies, in order to ensure effective skills development and utilization of working power. Students with their own specific product ideas and business models can choose Hatch MakerStudio as their place of apprenticeship.

Continue Reading

Trending