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Index-heavy companies’ share prices down

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By Hiran H.Senewiratne 

CSE market activities were negative yesterday with the index heavy LOLC share prices plummeting by 18 percent. The reason  being that investors were slightly taken aback at LOLC quarterly results which did not prove exceptionally good. As a result, 87 negative points were contributed to the All Share Price Index yesterday, stock market analysts said.

Apart from LOLC, several index heavy companies’ share prices went down, including Vallibal One, whose shares dropped by 10 percent and it contributed 20 negative points. Browns Investments reported a 9 percent drop and it contributed 20 negative points, Expolanka witnessed a five percent drop, contributing 17 negative points.

Amid those developments, both indices moved downwards. The All Share Price Index went down by 326.36 points and S and P SL20 declined by 126.05 points. Turnover stood at Rs. 4.28 billion with three crossings. Those crossings were reported in Sampath Bank, where 500,000 shares crossed for Rs. 82.5 million; its shares traded at Rs. 165, Sanasa Development Bank 850,000 shares crossed for Rs. 51 million, its shares traded at Rs. 60 and Hemas Holdings 350,000 shares crossed for Rs. 30.8 million, its shares trading at Rs. 58.

In the retail market top five companies that contributed to the turnover were; LOLC Rs. 730 million (1.97 million shares traded), Dipped Products Rs. 383 million (6.1 million shares traded), Expolanka Rs. 304 million (6.5 million shares traded, JKH Rs. 280 million (1.78 million shares traded) and Vallibel One Rs. 273 million (4.3 million shares traded). During the day 117.4 million share volumes changed hands in 34809 transactions.

Samapth Bank announced a dividend, which was Rs. 8.25 per share. Due to uncertain market conditions Sampath Bank shares  depreciated yesterday.     In contrasting actions, state fund EPF sold down in Hayleys PLC, while Sri Lanka Insurance Corporation Life Fund has upped its stake in the quarter ended December 31, 2020. Hayleys also saw 605 new shareholders in the quarter.

As per latest shareholding at Hayleys, EPF has moved down to fourth from third after selling 2.3 million shares. Its shareholding with 2.34 million shares amounted to 3.12 percent down from 5.04 percent  previously. SLIC Life Fund has increased its stake to 0.79 million shares or 1.06 percent  from 0.39 million shares or 0.5 percent.High net worth individual investor and former Director Nimal Perera figures in the Top 20 shareholders list with 0.5 million shares or 0.67 percent shares while J.B. Cocoshell Ltd. is also a new entrant with 0.37 million shares or 0.5 percent.  Hayleys’ public shareholding is 37 percent  held by 6,974 shareholders, up from 6,369 shareholders as at September 30, 2020.       

Sri Lanka rupee quoted wider around 195.00/197.50 levels to the US dollar in the spot market on Tuesday, while bond yields edged up on selling pressure, dealers said. The rupee last closed in on the one-week forward market at 196.50/197.00 levels on Monday. In the secondary market, bond yields gained on selling pressure but the market remained dull, dealers said.



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Dialog rewards winners of Govi Mithuru Nidanaya Competition

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Winners of the first phase of the island-wide Govi Mithuru Nidanaya competition being presented with their prizes from Dialog Axiata PLC

As part of the well-established revolutionary agri-tech service ‘Govi Mithuru’, Dialog Axiata PLC (“Dialog”), Sri Lanka’s premier connectivity provider, generously rewarded subscribers of the Govi Mithuru service in the island wide ‘Govi Mithuru Nidanaya Competition’.

The year-long ‘Govi Mithuru Nidanaya Competition’ rewards urban and rural farming communities with grand prizes and aims at uplifting their economies and livelihood. The first phase saw a grand prize of gold coins gifted to 35 lucky winners along with admission to an agriculture training programme conducted by the Department of Agriculture, and 24 runners-up were awarded sewing machines. The on-going second phase will also see similar prizes worth 30 lakhs being disturbed to participants, including a grand prize of a Honda Dio Bike and admission to the Department of Agriculture’s training programme to 35 lucky winners. 60 runners-up will be rewarded with mobile phones. Both phase one and two will also award a consolation prize of Rs. 500 to the 10,000 draw entrants.

Sri Lanka’s primary mobile agricultural information service, Govi Mithuru has registered over 600,000 users and helps maximize crop security and yield for farmers across the island. Under the patronage of the Department of Agriculture, the Govi Mithuru voice service enabled farmers and users in the country to receive direct access to professional guidance in the sector. Offering advice on 25 crop groups, including Home Gardening, the service is accessible to anyone using a basic feature phone.

A one-stop hub of updated, timely information, the Govi Mithuru mobile app is an extension of the original service, designed to deliver tailored formats of information according to the user’s requirements. Customers are charged Rs. 1 (plus tax) per crop per day for the voice service, and Rs. 2 (plus tax) subscription per day for unlimited access to all crops for the mobile app, with no cost on data charges for Dialog Mobile users. The Govi Mithuru app can be downloaded directly via the Google Play Store and voice service can be accessed by dialling 616.

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Odel.lk champions Soundarie David Rodrigo

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Acclaimed Sri Lankan pianist and music director Soundarie David Rodrigo

In celebration of Women’s Day 2021, Sri Lanka’s largest online fashion retailer Odel.lk partners with widely-acclaimed Sri Lankan pianist and music director Soundarie David Rodrigo in the launch of her first main stream music video in both English and Sinhala languages – a first in the country.

This is the first of Odel.lk’s collaborations, as part of a powerful initiative named ‘Composed by Odel.lk’ that aims to bolster the careers of female artistes in Sri Lanka who are breaking boundaries and leading the way forward in the country’s music arena.

“We are deeply honoured to partner with Soundarie as she forays into the world of mainstream music, after years of being in the forefront of the Sri Lankan western classical music industry and having fostered much young talent herself. This is nothing but a promisingly positive beginning to the ‘Composed by Odel.lk’ initiative to empower female artistes in the country who are shaking up the status quo and pushing the boundaries of Sri Lankan music. While Odel.lk already offers everything possible to make women feel beautiful on the outside, we will continue to evolve and invest in this mission to empower our country’s female force from within by joining in their creative journeys. To be able to launch this platform on a day as significant as International Women’s Day 2021 is a cherry on top,” commented Softlogic Holdings PLC Group Marketing Director Desiree Karunaratne.

‘Complicated’ or ‘Mulawe Maya’ is Soundarie’s latest musical masterpiece, one that makes the history books as the first in the country to be released simultaneously in both English and Sinhala. With lyrics and melody penned by Soundarie in English and transcribed into Sinhala by Shehan Galahitiyawa, the two songs are brought to life with the fine voices of accomplished young, Sri Lankan musical talent Shehara Liyanage and Hirushi Jayasena. The breathtaking melody hums the complexities of human emotion, with a powerful lyrical body which beautifully narrates a woman torn between memories of the past and the reality of the present.

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Acorn Group empowers women at work

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Acorn Group which encompasses a multitude of leading international brands in the Aviation and Travel industry takes pride in the leading role played by its female employees across its businesses. There is no better occasion than International Women’s Day to highlight how women make an impactful contribution to the businesses of Acorn. Women make up close to 44% of the Group’s workforce and have been an integral part of the organization.

 Malinga Arsakularatne, CEO of Acorn Group said: “The Acorn family is committed to providing equal opportunities at the workplace, across all businesses of the organization. The past year is a testimony to the immense contribution made by the women in the Group as we faced many challenges due to the ongoing global pandemic. We take pride in the accomplishments and achievements of our female colleagues, and applaud their significant contribution to the growth and success of the Group.”  

“Creating a work environment which is conducive to women requires flexibility and workspace ethics which can be fine-tuned to cater to the demands of everyday life. We takes pride in being one of the few organizations that not only affords an extended period of maternity leave but has made provision for paternity leave to ensure inclusivity across the board.”

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