By Hiran H.Senewiratne
The CSE lost its winning streak in terms of the benchmark index, but investors remained bullish propelling the turnover to a healthy Rs. 6.billion with over 252 million shares traded yesterday.
However, during the day the market was volatile and remained negative. During the latter part of the day the market was dragged down by index heavy LOLC Group company, Commercial Leasing and Finance, stock market analysts said.
Commercial Leasing and Finance shares witnessed heavy selling pressure and its share price depreciated by 18 percent or Rs 11.10, thus contributing 157 negative points to the All- Share Price Index. Its shares started trading at Rs 61.90 at the end of the day, its price dropped to Rs 50.80.
Amid those developments both indices indicated mixed reactions. All Share Price Index went down by 157.58 points and S and P SL20 was up by 10.68 points. Turnover stood at Rs 6.48 billion with two crossings. Those two crossings were reported in HNB, which crossed 700,000 shares to the tune of Rs 105 million and its shares traded at Rs 150 and NDB 400,000 shares crossed for Rs 28.2 million, its shares traded at Rs 70.50.
In the retail market top seven companies that mainly contributed to the turnover were, Browns Investments Rs 1.2 billion (85.3 million shares traded), Expolanka Holdings Rs 825 million (2.9 million shares traded), Commercial Leasing and Finance Rs 754 million (14.5 million shares traded), Vallibel One Rs 520 million (6.9 million shares traded), LOLC Finance Rs 285 million (11 million shares traded), Softlogic Life Insurance Rs 238 million ( 5.7 million shares traded) and LOLC Holdings Rs 150 million (153,000 shares traded) During the day 252 million share volumes changed hands in 49000 transactions.
It said high net worth and institutional investor participation was noted in LOLC Holdings. Mixed interest was observed in Expolanka Holdings, Vallibel One and Brown & Company, while retail interest was noted in Browns Investments, Softlogic Capital and Lanka Orix Finance.
After witnessing a strong first half, the ASPI reversed its intra-day gains, led by a pull-back in heavyweights Commercial Leasing and Finance and LOLC Finance and closed out the session with modest losses, while the more liquid S&P SL20 index held steady ground to continue its upward trend for the eleventh consecutive session and supported by price gains in Expolanka, LOLC, Vallibel One and Browns.
Softlogic General Insurance will go for an IPO. It will open on December 16 and will issue 120 million shares at Rs 7.90 per share value to raise Rs. 948 million.
Yesterday, the US dollar rate was quoted at Rs 201.93, which was an artificially controlled price of the Central Bank to prevent price escalations in essential imported items. At present the actual US dollar rate is sky-rocketing, which is about to touch more than Rs 250.
Cavinkare Lanka unveils Meera Facewash – unique combination of natural actives
FMCG Major’s latest product for the Sri Lankan market, Meera Facewash was unveiled in an official event at Colombo. Celebrating the young contemporary Sri Lankan woman, Meera facewash will be introduced in three different variants providing functional solutions to everyday skincare problems – Red Sandal (for soft skin), Neem & Tea Tree (for pimple clear skin) and Wild Turmeric (for clear skin).
Meera facewash is a range of formulation that is Soap-free, Sulphate free, Paraben free and is milder on the skin. It has a unique combination of Natural actives mentioned in ancient Ayurvedic textbooks. It includes a very special product which is Salicyclic acid- free acne treatment facewash. It helps to remove 99.9% of acne causing bacteria using prebiotic technology.
Meera facewash is aimed at modern young women of Sri Lanka who hold a strong belief in traditional practices & natural ingredients. Today young women are well read, understand the importance of healthy skin and have a holistic view of how healthy skin is beautiful skin. It comes out from the confidence of understanding scientific literature that supports these natural ingredients rather than following it naively.
Virtually connecting at the event, Arun Chacko, Business Head of Personal care category (Sri Lanka, Bangladesh & Nepal) said, “With the Launch of Meera Face Wash today, we add to the hugely successful Meera portfolio of shampoos. With this, we intend to enhance the Richness of Tradition that Meera as a brand has been offering to the Sri Lankan Populace over the years. We are sure that the variants, would endear to the needs of Sri Lanka. We promise to bring more such exciting products to cater to the consumers.”
All-time record prices for two estates
Halpewatte Uva Estate located in Bandarawela, which is renowned for producing high quality, light liquoring bright orthodox teas established an all-time record price of Rs.1,000 per kg on a liquoring BOPSP grade in the Uva Medium Category at the tea auction held on 18th January 2022. This invoice of tea was purchased by Shan Teas (Pvt) Ltd.Halpewatte Uva Estate is managed by Halpewatte Estate (Pvt) Ltd, and the teas were marketed and sold by John Keells PLC.
Venture Estate located in Bogawantalawa which is renowned for producing high quality orthodox teas over the past years, established an all-time record price, of Rs 1,060 per kg on a liquoring FBOPF1 grade in the Western High Grown Category at this week’s tea auction held on 18th January 2022. This line of tea was purchased by Inter Tea (Pvt) Ltd. Venture Estate is managed by Madulsima Plantations PLC and the teas were marketed and sold by John Keells PLC.
HNB-Indra Traders offer exclusive leasing solutions for unregistered vehicles, freezers and pre-owned vehicles
Sri Lanka’s leading private sector bank, HNB PLC, partnered with local automotive giant Indra Traders to provide customers with exclusive leasing solutions for unregistered and pre-owned vehicles and freezers.
Customers can make use of exciting benefits and discounts during the promotional period from January to December 2022. HNB Executive Director Chief Operating Officer Dilshan Rodrigo and Indra Traders Managing Director Rushanka Silva participated in the special ceremony to sign the MoU at HNB Towers.
“Given the import restrictions, the market for unregistered and pre-owned vehicles has grown exponentially. Each year we offer our loyal customers the very best deals in the market. As such, we have renewed our partnership with Indra traders, renowned for its incomparable service, to offer those looking for vehicles with access to exceptional after-sales services and great discounts,” HNB Executive Director and Chief Operating Officer Dilshan Rodrigo said.
HNB will offer the prevailing interest rate for structured leases and lease facilities with a 25% residual value market value under the partnership. Customers also have access to special discounts on automobile products, servicing, spare parts, tyres, and batteries via the Prestige Prime card, with the annual fee waived off the first year.
“We are delighted to partner with HNB once again to offer our mutual customer base exciting leasing solutions and great benefits. Our continued partnership with the Bank has proven to be very beneficial to our customers, and we hope they will make use of this opportunity once again to invest in their own set of wheels,” Indra Traders Managing Director Rushanka Silva said.
Indra Traders will provide customers looking to purchase unregistered cars, vans and freezers with free insurance from SLIC for the first year. HNB customers are also eligible for discounts of up to 10% for spare parts from Indra Motor Spares and labour charges from Indra Service Park for the first year.
Customers investing in a new or unregistered passenger vehicles are eligible to have their vehicles outfitted with a free entertainment system and reverse camera. Indra Traders will also offer customers a two-year warranty for engines and gearboxes and a three-year warranty for hybrid batteries.
Notably, the company will provide free labour for services up to one year and a maximum of six services for pre-owned vehicles. A six-month warranty will also be offered for the engines and gearboxes of these vehicles.
Established in 1975, Indra Traders has diversified to various business segments in the automobile industry. A supplier of high-quality motor vehicles and related vehicles, Indra Traders today stands as not only a supplier of high-quality vehicles but also a transport solutions provider.
With 254 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically-innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd. The Bank was also ranked among the World Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for five consecutive years. HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020.
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