Connect with us

Business

JKH seen as ‘good bet’ in South Asia

Published

on

By Hiran H. Senewiratne 

 

Leading investment company, Aberdeen Standard Investments, said  that JKH  could be a good bet  in the South Asian region in a post-pandemic economic recovery context, market analysts said.

Further, Aberdeen is the 9th largest shareholder of JKH,  holding 25 million shares as of now, stock market analysts said. 

CSE was positive throughout yesterday due to appreciation of JKH shares by Rs. 3.50 or 2.5 percent. This situation made a positive impact on the CSE trading floor. Its shares started trading at Rs. 142 and at the end of the day they moved up to Rs. 145.40.  With the improvement of investor sentiment both indices became positive and moved upwards, i.e., the All Share Price Index went up by 15.59 points and S and P SL20 by 15.02 points. 

Turnover stood at Rs. 1.7 billion with one crossing. The crossing was reported in JKH, which crossed 300,000 shares to the tune of Rs. 43.5 million; its shares traded at Rs. 145. 

In the retail market top five contributors to the turnover were, JKH Rs. 293 million (2.02 million shares traded), Dipped Products Rs. 205 million (653,000 shares traded), Expolanka Rs. 169 million (6.6 million shares traded), Swisstek  Ceylon PLC Rs. 68.9 million (899,000 shares traded) and Commercial Bank Rs. 55.9 million (730,000 shares traded). During the day, 47 million share volumes changed hands in 16567 transactions. With the appreciation of JKH stocks, other stocks also marginally moved up.

Further, core inflation (Y-o-Y) decreased 4.5 percent  in October 2020 from 4.8% in September 2020, while annual average core inflation decreased marginally to 4.2 percent  in October 2020 from 4.3 percent  in September 2020. This is a plus point for CSE activities, market analysts said.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published.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

Business

CBSL and IFC launch National Financial Inclusion Strategy

Published

on

Sri Lanka’s first National Financial Inclusion Strategy (NFIS) aunched recently, aims to make financial services more accessible, efficient, and affordable for all households and businesses in the country.

The NFIS is a joint effort led by the Central Bank of Sri Lanka—with technical and financial assistance from IFC, a member of the World Bank Group—under the IFC-DFAT Women in Work program. The development of this strategy was a multi-stakeholder effort supported by the government of Sri Lanka.

“The National Financial Inclusion Strategy symbolizes our country’s commitment towards a better and inclusive Sri Lanka that will benefit all individuals and enterprises. I believe this strategy will complement the Government’s efforts to minimize the provincial income disparities, urban-rural inequalities, and to promote inclusive growth,” said Mahinda Rajapaksa, Prime Minister of Sri Lanka.

“More importantly, this strategy prioritizes future generations, having identified financial literacy as a key pillar. The proposal to strengthen the national curriculum in this area is a positive step. Investing in the education of our younger generation is the most significant investment we can make as a nation, as this will be a particularly helpful approach to the systematic correction of the financial habits of Sri Lankans,” the Prime Minister said.

Continue Reading

Business

HNB – Havelock City partnership offers exclusive Ezy Pay Home Loans facility

Published

on

HNB PLC has partnered with Havelock City mixed-use development project to offer prospective homeowners of state-ofthe-art luxury apartments in Stratford and Melford Towers (Phase 3 – COC certified) and Peterson and Edmonton Towers (Phase 4) with the exclusive Ezy Pay Home Loans facility.

The partnership is set to offer customers the unprecedented opportunity to make a payment of only 20% and immediately occupy the limited units available in Phase 3 of the project or invest in apartments available in Phase 4, scheduled to be completed by May 2021. Further, Havelock City will take on the customer’s interest payment for one year.

“We have witnessed an increase in the demand for apartments and are aware that there is a limited stock of units available in the heart of Colombo. Therefore, we hope that this partnership with Havelock City will offer our customers looking to invest in a home of their own the facility to either move into an apartment immediately or invest in a home of their dreams,” HNB Head of Personal Financial Services, Kanchana Karunagama said.

Prospective homeowners can make use the bank’s flexible repayment options, such as the Step-up facility, which offers a repayment option in line with the customers evolving income. Customers can also obtain a maximum repayment period of 25 years for the loan facility for an attractive interest rate starting from just 7%.

Continue Reading

Business

DPL lends a hand to children in Monaragala Rubber Farming Communities

Published

on

As part of its ongoing efforts to empower and uplift the livelihood of its farmer co-operative societies, Dipped Products PLC (DPL) distributed school bags to the children of 1,500 smallholder rubber farmers for the 10th consecutive year, under its flagship Firstlight CSR project.

This year’s distribution recorded the largest donation of school bags, which was nearly a two-fold increase from the previous year, bringing the total value of the distribution up to nearly Rs. 1 million.

Taking place at the Pinwatta Bodimalu Viharaya in Medagama, Monaragala, this latest distribution marks the Company’s continued efforts to support the smallholder rubber farming communities, by ensuring that their essential needs are looked after.

“Especially in this time of economic uncertainty, with the nation facing significant challenges and hardships, it is truly touching to see the positive impact which we continue to have on the underprivileged smallholder rubber farming communities. We believe that programmes like Firstlight hold the key to enhancing the livelihoods of our 1500-strong rubber farmers, providing them with an improved quality of life, whilst paving the way to open up new opportunities and a brighter future. This is why, with the enthusiastic response we have received over the years, we have now also expanded this school bag distribution to include the District of Kegalle,” Dipped Products Deputy Managing Director, Pushpika Janadheera said.

 

 

Continue Reading

Trending