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CSE starts off on volatile note but turns stable

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By Hiran H.Senewiratne

CSE activities were volatile during early sessions yesterday but turned stable later. The market witnessed a steep decline during the last two days, moving downwards by 470 points during the last two sessions on Monday and Tuesday. It is said that from February 1st to 23rd this year CSE activities were down by 1339 points. However, selling pressure was noted on  banking sector counters, stock market analysts said. 

According to analysts the market’s recent downward trend has been disappointing. They advise investors to take advantage of the current weakness and focus on accumulating fundamentally robust and liquid stocks in high growth sectors within a long term investment horizon.

Amid those developments, both indices moved positively. All Share Price Index was up by 42.65 points and S and P SL20 up by 4.47 points. Turnover stood at Rs. 2.62 billion with three crossings. Those crossings were reported in Sampath Bank, which crossed two million shares to the tune of Rs. 206.75 million; its shares trading at Rs. 153.50, Commercial Bank’s 1.8 million shares crossed for Rs. 150.9 million, its shares traded at Rs. 85 and JKH 300,000 shares crossed for Rs. 45.5 million; its shares traded at Rs. 151.75.

In the retail market top five companies that mainly contributed to the turnover were; Expolanka Rs. 322 million (7.8 million shares traded), LOLC Rs. 249.8 million (695,000 shares traded), Commercial Bank Rs. 210.3 million (2.47 million shares traded), Dipped Products Rs. 183.5 million (3.6 million shares traded) and Royal Ceramic Rs. 139.3 million (300,000 shares traded). During the day, 75.7 million share volumes changed hands in 17717 transactions.



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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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