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NIFL share price loses steam, rupee quoted at 225/226.50 in kerb market

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By Hiran H.Senewiratne

Stock trading activities at the Colombo Stock Exchange (CSE) was subdued yesterday mainly due to price depreciation of LOLC Development Finance PLC’s (NIFL) shares by 24.5 percent or Rs 170.25. In the last couple of trading days its share price witnessed an unusual increase without any plausible reasons where market participants and stockbrokers had raised concerns about the development.

With the recording of the price depreciation in NIFL stocks, it negatively contributed to the All Share Price Index by 91 points. Both indices showed a downward trend. All Share Price Index was down by 104.2 points and S&P SL20 down by 5.01 points. If not for NIFL ‘s negative contribution ASPI would have settled with 14 negative points, market analysts said.

NIFL share price started trading at Rs 694.74 at the commencement of trading but during the latter part of the day its share price fell by Rs 170.25 and touched Rs 525.50.

According to JKSB, Top gainer was Nation Lanka Finance PLC(+14.29%) and Top loser NIFL.N (-24.51%).

Turnover stood at Rs 1.45 billion with six crossings. Those crossings were reported in Renuka Agri Food 27.6 million shares crossed for Rs 102.1 million and its share price traded at Rs 3.70, HNB (Non Voting) 600,000 shares crossed for Rs 66 million and its share price traded at Rs 110, Cargills 175,000 shares crossed for Rs 42.5 million  its share price traded at Rs 243, Royal Ceramic one million shares crossed for Rs 35 million its share price traded at Rs 35, DFCC 500,000 shares crossed for Rs 30 million and its share price traded at Rs 60 and Aitken Spence 381,000 shares crossed for Rs 20.8  million and its share price traded at Rs 54.50.

In the retail market, the top five contributing companies were HNB (Non Voting) Rs 136 million (1.24 million shares traded), Expolanka Rs 92.2 million (1.87 million shares traded), LOLC Rs  82.1 million (210,000 shares traded), Royal Ceramic Rs 72.3 million (2.1 million shares traded) and HNB Assurance Rs 46.7 million (933,000 shares traded).

People’s Leasing which  announced a Rs 8 billion debenture issue sometime back has revised its plan to increase it to Rs. 10 billion. Each debenture is quoted at Rs 100 and the purpose is to have more liquidity for the company. During the day 73.65 million share volume changed hands in 15,540 transactions.   

Meanwhile, Sri Lanka’s rupee is being quoted in the kerb market at 225.00/226.50 to the US dollar as unusual demand for currency notes emerged over the past two weeks amid forex trading curbs in the formal market as money printing continued, participants said.

 

 



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Altair on track

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Altair - the architectural marvel

`Altair’, the iconic building in Colombo – Sri Lanka is designed by Celebrity Architect Moshe Safdie based in Boston, USA. Moshe Safdie has designed many famous iconic structures including the famous Marina Bay Sands with Sky Garden in Singapore. `Altair’ is in the league of iconic buildings of the world, such as Burj Khalifa, Petronas Tower, Marina Bay Sands, Shanghai Tower, The Parc 1 Tower in Seoul – South Korea, ICC Building & Bank of China Tower in Hong Kong to name a few. 

The project `Altair’ was launched by South City Group in Colombo in the year 2013. Due to construction related complications, force majeure reasons and an unfortunate ownership related dispute, the project has been delayed. However, South City Group has expressed with much pleasure that the Group is back in the helm of the real estate project with 100% control. Most importantly, the project is progressing well and will be ready for handing over in the next few months.

The spokesperson of South City stated that that they are getting utmost support and cooperation from the Government of Sri Lanka for completing the project. President Gotabaya Rajapaksa has appointed Mr. Sirinimal Perera, the Special Authorised Officer to steer the project towards its successful completion. South City group is also receiving steadfast backing from the esteemed customers and the project is on track to deliver what it promised since inception. The rich experience of South City Management with a huge knowledge bank will be able to soon create another landmark in Sri Lanka which will be one of the top landmarks in the world.

Altair’ is an architectural marvel and consists of two vertical tower blocks, one straight tower and another stepped tower which is in slope and leaning to the straight tower. The project is in the prime area of Colombo facing Beira Lake as well as the Indian Ocean. The finishes of the project are on high calibre, with Italian marble, wooden flooring, central air-conditioning, hot water supply and super luxurious sanitary fixtures. Additionally, there is a Resident Club on the fifth level with a garden around it and on 63rd level with the swimming pool and other recreational facilities. 

The apartments have been booked by the Crème de la crème of Sri Lanka’s social fabric, HNI and a noteworthy number of overseas residents from the Sri Lankan diaspora. Notably, ‘Altair’ a is the biggest FDI investment in Colombo for real estate to date. Altair is a symbol of a successful foreign investment and a show-piece for the Sri Lankan Government to attract further investment in Sri Lanka.

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A cheering campaign to support Team Sri Lanka at TOKYO 2020

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Chethika Rajapaksha, Marketing Manager, ICL Brands, Susanthika Jayasinghe, Dushan Vas, Niloo Jayatilake, Chairperson – Women's Committee, NOCSL, Fazil Hussain, Member, Ex. Committee, NOCSL.

ICL Brands’ Eva lived up to its’ promise of ‘Leading with Confidence’ by partnering with the National Olympic Committee of Sri Lanka (NOCSL) as the Official Cheering Partner for Team Sri Lanka at TOKYO 2020, Olympics. The brand initiated a massive communication campaign, centered around the ‘Official Cheering Song’ to drive Sri Lankans to rally around Team Sri Lanka and support the 9 athletes that bear the pride of the nation at TOKYO 2020.

The launch of the ‘Official Cheering Song’ took place at the Capital Maharaja Group head office with the participation of Sri Lanka’s very own Olympic Silver Medalist, Susanthika Jaysinghe, NOCSL Women’s Committee Chairperson, Niloo Jayatilake, NOCSL’s Executive Committee Board Member, Fazil Hussain and Chethika Rajapaksha, Marketing Manager for ICL Brands. Amidst the other guests who graced the occasion were Sunil Kanojia, Group CEO – CMG, Shanthi Bhagirathan, Group Director – ICL Brands, Rakesh Khosla,CEO – ICL Brands and others.

The event was live streamed via multiple social media platforms simultaneously, reaching out to a wide audience and kicking off the cheering campaign officially. Eva’s campaign to cheer for Team Sri Lanka will continue throughout the period of TOKYO 2020 Olympics on multiple media platforms.

Susanthika Jayasinghe who graced the occasion as chief guest praised the initiative ”’I am extremely happy to see the brands of highest caliber such as Eva coming forward to support Sri Lankan athletes at Olympics. As an athlete who has represented and won for Sri Lanka on the Olympic stage, I know how much this means to our athletes in Tokyo right now”.

 

 

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Sri Lanka Development Bonds auction held during July 20-27, 2021

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Date of settlement July 30, 2021

An issuance window for SLDBs will be opened with the announcement of the auction results until close of business of day prior to settlement (i.e., preferably by 3.00 pm on 29.07.2021) at the Weighted Average Fixed Rates determined for respective maturities at the auction, up to the limit specified for possible upsizing, at first come first served basis. Applications for subscription through the issuance window are to be forwarded to ‘fopdd@cbsl.lk’ within the stipulated time period.

Public Debt Department

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