Business
CSE retail turnover hits remarkable high of Rs. 5.04 billion
By Hiran H.Senewiratne
The CSE enjoyed its highest ever retail turnover and the highest ever number of transactions despite both indices indicating a downward trend yesterday. The reason for the market decline was selling pressure in banking and large cap counters. However, demand for low valued stocks remained bullish, stock market analysts said.
The turnover stood at Rs. 5. 04 billion with two crossings. Those crossings were reported from Pan Asia Power, which crossed 40 million shares to the tune of Rs. 180 million; its share price trading at Rs. 4 and Sierra Cables 18 million shares crossed for Rs. 75 million, its shares trading at Rs. 5. However, the All Share Price Index went down by 38.08 points and S and P SL20 declined by 25.75 points.
In the retail market, top five companies that mainly contributed to the turnover were, Expolanka Rs. 864 million (49 million shares traded), RIL Properties Rs. 373 million (36.4 million shares traded), Piramal Glass Rs. 341 million (52 million shares traded), Tokyo Cement (Non Voting) Rs. 339 million (6.2 million shares traded) and Tokyo Cement (Voting) Rs. 277 million (4.3 million shares traded). During the day 582 million share volumes changed hands in 40884 transactions.
It is said that close to Rs. 5 billion came from the retail trade minus the two crossings. Due to foreign selling pressure local investors have become more active in the market. RIL Property share price moved up to Rs. 10 from Rs. 4 and the company has informed the CSE that their share price has increased unusually due to speculative trading.
Materials sector was the top contributor to the market turnover (due to Tokyo Cement Company voting and non-voting) while the sector index gained 5.30%. The share price of Tokyo Cement Company non-voting gained Rs. 5.00 (10.99%) closing at Rs. 50.50, while foreign holdings decreased by 2,231,075 shares. Further, the share price of Tokyo Cement Company moved up by Rs. 5.00 (9.03%) to close at Rs. 60.40.Transportation sector was the second highest contributor to the market turnover (due to Expolanka Holdings) while the sector index increased by 14.37 percent. The share price of Expolanka Holdings increased by Rs. 2.10 (14.38 percent) to close at Rs. 16.70.RIL Property and Hayleys Fabric were also included among the top turnover contributors. The share price of RIL Property recorded a gain of Rs. 2.10 (29.17 percent) to close at Rs. 9.30, while the share price of Hayleys Fabric declined by Rs. 1.10 (4.47 percent) to close at Rs. 23.50.
Sri Lanka rupee quoted slightly weak at 184.20/27 to the US dollar on Tuesday while bond eased, dealers said. The rupee closed at 184.15/25 against the greenback on Monday.
The Central Bank of Sri Lanka today (07) presented its flagship publication, the Annual Economic Review for 2024 (AER 2024), to President and Minister of Finance, Anura Kumara Disanayake, highlighting the steady progress of Sri Lanka’s economic recovery following the country’s most severe downturn in recent history.
The report was officially handed over by Dr. P. Nandalal Weerasinghe, Governor of the Central Bank, during a special ceremony held at the Presidential Secretariat.
AER 2024 comprises four main chapters: Macroeconomic Developments, Conditions of the Financial System, Review of Central Bank’s Policies and Macroeconomic Outlook.
According to the Review, the Sri Lankan economy showed significant signs of recovery in 2024, following the deep economic crisis experienced two years ago. The recovery trajectory, though challenging, has been notably faster than that of many other debt-distressed countries.
Improvements in economic activity, a partial resurgence in purchasing power and reduced uncertainty are among the key positive indicators noted in the report.
The event was attended by Dr. Nandika Sanath Kumanayake, Secretary to the President, K. M. Mahinda Siriwardena, Secretary to the Treasury, Mrs. K. M. A. N. Daulagala, Senior Deputy Governor, Dr. C. Amarasekara, Assistant Governor, Dr. (Mrs.) S. Jegajeevan, Director of Economic Research and Dr. L. R. C. Pathberiya and Additional Director of Economic Research at the Central Bank Dr. V. D. Wickramarachchi.
[PMD]
Business
IceWarp expands into Sri Lanka, fostering European innovation in collaboration with FentonsIT
IceWarp, a global leader in business communication solutions, has officially launched its cutting-edge platform in Sri Lanka, bringing European expertise in email and collaboration solutions to support the country’s evolving business landscape.
This expansion is driven by a strategic partnership with Fentons Information Technology (FIT), the Information Technology arm of Hayleys Fentons Limited.
The grand launch event held at The Kingsbury Colombo on 4th April, 2025, was graced by several distinguished guests, including Chief Guest Mohan Pandithage, Chairman and Chief Executive of Hayleys PLC.
The presence of Adam Paclt, Global CEO of IceWarp, and Pramod Sharda, CEO for India and the Middle East of IceWarp, along with their global team, highlighted the significance of this expansion. Industry experts, government officials, corporate leaders, and CIOs from the banking, financial services and insurance sectors were in attendance as well, reflecting strong local interest in IceWarp’s European expertise.
With this launch, Sri Lankan businesses now have access to an affordable, scalable and secure alternative to Microsoft 365 and Google Workspace. IceWarp’s advanced Collaboration Suite integrates a wide range of tools into a single, unified platform designed to streamline communication and boost productivity. Offering flexible hybrid deployment options and cost-efficient solution, IceWarp enables organisations to optimise their operations without compromising security or functionality.
Ceylon Energy and HJT China have successfully completed the Mahiyangana-Kappalthurei 33kV power distribution lines and the Uhana Gantry as part of Sri Lanka’s Supporting Electricity Supply Reliability Improvement Project (SESRIP). Funded by the Asian Development Bank ($42 million), SESRIP aims to expand energy access in underserved regions, including conflict-affected areas and provinces like Uva and North Central.
The project’s infrastructure spans over 270 km of 33kV lines, 13 switching gantries, and 2,372 km of low-voltage extensions.
The projects connect 35,000+ households and improve reliability for 493,000+ consumers; integrates renewables to reduce losses.
The projects’ notable components include: Mahiyangana-Bibila Line: 36 km with 147 steel towers and Kappalthurei-Sixth Mile Post Line: 14 km with 58 towers.
Ceylon Energy Chairman Madushanka Fernando hailed it as a ‘new beginning of a brighter era’, emphasising the project’s role in uplifting rural communities and driving sustainable development.
The initiative underscores Sri Lanka’s commitment to inclusive, reliable energy and climate resilience.
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