Business

Notable share appreciations in Cooperative Insurance and hSenid

Published

3 years ago

2021/12/31

By Hiran H. Senewiratne

Two newly listed companies, Cooperative Insurance and hSenid, saw their share prices appreciate significantly at the CSE yesterday, which is a notable occurrence, stock market analysts said.

Further, plantation sector companies were able to maintain their momentum as on the previous day. But there are notable activities happening in tourism/hotel sector counters due to the significant increase in tourist arrival to Sri Lanka from December 1 to 26th this year, amounting to 70000 arrivals, stock market analysts said.

Amid those developments both indices moved upwards. The All- Share Price Index went up by 104.5 points and S and P SL20 rose by 23.7 points. Turnover stood at Rs 6.5 billion with five crossings. Those crossings were reported in Commercial Bank, which crossed 3.9 million shares to the tune of Rs 308 million, its shares traded at Rs 79, Melstacorp two million shares crossed for Rs 110 million, its shares traded at Rs 55, LOLC Holdings 32000 shares crossed for Rs 37.3 million, its shares traded at Rs 1165.75, Royal Ceramic 500,000 shares crossed for Rs 37.2 million, its shares traded at Rs 74.40 and Bukitdarah 50000 shares crossed for Rs 20 million, its shares fetching Rs 400.

In the retail market, seven companies that mainly contributed to the turnover were; Expolanka Holdings Rs 815 million (2.2 million shares traded), Browns Investments Rs 546 million (37.8 million shares traded), Cooperative Insurance Rs 407 million (92.5 million shares traded), hSenid Rs 410 million (12.4 million shares traded), Lanka IOC Rs 179 million (2.5 million shares traded), Elpitiya Plantations Rs 179 million (1.2 million shares traded) and Richard Peiris Rs 161 million (6.4 million shares traded). During the day 509 million share volumes changed hands in 59000 transactions.

Price appreciations were noted in two newly listed companies. One was Cooperative Insurance, where the share price appreciated by 30 per cent or Rs 1.10. Its shares shot up to Rs 4.70 from Rs 3.60. The second was hSenid, whose share price appreciated by 16 per cent or Rs 4.50. Its share price shot up to Rs 32.80 from Rs 28.30. Further, Elpitiya Plantations share prices appreciated by Rs 21.25 or 16 per cent. Its share price shot up to Rs 156 from Rs 134.

Meanwhile, LOLC General Insurance, which oversubscribed 12 times, will be listed in the Divisavi Board today. The company will issue 1.2 billion shares, out of which 120 million will be offered to the public at Rs 7.90 a share to raise Rs 948 million.

It said high net worth and institutional investor participation was noted in Melstacorp, Commercial Bank and Sinhaputhra Finance. Mixed interest was observed in Expolanka Holdings, hSenid Business Solutions and Browns Investments, while retail interest was noted in SMB Leasing voting and non-voting and Industrial Asphalts.

Sector-wise, plantation stocks witnessed more traction during the session and ended sharply higher while Food, Beverage & Tobacco, Diversified Financials, Capital Goods and Banks sectors led activity, collectively accounting for 72.7% of turnover. Activity continued strong while the breadth of the market turned positive with 124 gainers and 91 decliners.

Separately Kelani Valley Plantations, Haycarb and Singer Sri Lanka announced their interim dividends of 25 cents, 75 cents and 35 cents per share respectively.

Yesterday the US dollar was quoted at Rs 201.96, which was the Central Bank controlled price. The actual price of the dollar is now touching Rs 250, market sources said.

All News Advertisement

Business

President briefs Sri Lankan delegation leaving for tariff related discussions in Washington

Published

7 hours ago

2025/05/24

Priyan

A Sri Lankan delegation is set to participate in discussions in Washington, D.C., focusing on tariff-related matters, following an invitation extended by the Office of the United States Trade Representative (USTR). This is the second in-person meeting aimed at ongoing efforts to strengthen bilateral trade relations between the two nations.

This initiative builds on several prior virtual interactions held between the USTR and Sri Lankan officials, and underscores a commitment to deepening economic ties. The upcoming talks are anticipated to explore avenues for enhancing trade cooperation and securing favourable outcomes for Sri Lanka, in light of current economic priorities.

Ahead of the visit, a high-level meeting was convened today under the leadership of President Anura Kumara Disanayake to ensure the country’s interests are well represented. The discussion focused on aligning the delegation’s approach with Sri Lanka’s broader economic strategy, ensuring the best possible outcomes from the upcoming discussions.

Key participants at the meeting included Deputy Minister of Finance and Planning Dr. Harshana Suriyapperuma; Secretary to the Ministry of Trade, Commerce, Food Security and Cooperative Development, K.A. Vimalenthirarajah; Duminda Hulangamuwa, Senior Economic Advisor to the President; Governor of the Central Bank Dr. Nandalal Weerasinghe; Secretary to the Ministry of Finance, Planning and Economic Development K.M.M. Siriwardana; Nirmal Vigneshwaran, representing the Attorney General’s Department; and Dharshana Perera from the Ministry of Foreign Affairs.

Details of the discussions in Washington are expected to be made available following the conclusion of the meetings.

[PMD]

Business

“Tourism Renaissance 2025” launched under the patronage of president

Published

7 hours ago

2025/05/24

Priyan

Sri Lanka’s largest tourism exhibition, “Tourism Renaissance 2025” (Sancharaka Udawa 2025), was inaugurated on Friday (23) at the Bandaranaike Memorial International Conference Hall (BMICH) in Colombo under the patronage of President Anura Kumara Disanayake.

Organized jointly by the Sri Lanka Tourism Promotion Bureau (SLTPB) and the Sri Lanka Association of Inbound Tour Operators (SLAITO), this event brings together key stakeholders across the tourism industry. It offers a valuable platform for small and medium-scale enterprises, as well as individuals aspiring to enter the tourism sector, to connect with market opportunities and showcase their products and services.

The two-day exhibition, which ends on Saturday [24], features 250 trade stalls and includes participation from a wide range of sectors such as hotels, tour operators, airlines, service providers and educational institutions.

Speaking at the opening ceremony, Minister of Foreign Affairs, Foreign Employment and Tourism Vijitha Herath stated that the government has declared 2025 the “Year of Tourism Renaissance,” with plans to generate USD 5 billion in revenue from the tourism sector by the end of the year.

Also in attendance at the opening ceremony were Secretary to the Ministry of Foreign Affairs, Foreign Employment and Tourism Aruni Ranaraja, SLAITO Chairman Nalin Jayasundara, SLTPB Chairman Buddhika Hewawasam and a distinguished group of invitees including the Ambassador of Germany to Sri Lanka.

Business

‘Be Part of the Plan’ – Sri Lanka’s theme for International Day for Biological Diversity

Published

18 hours ago

2025/05/24

Thilina Walpola

Sri Lanka celebrated International Day for Biological Diversity with a vibrant national event at the Popam Arboretum in Dambulla, centering on the theme “Be part of the Plan.” The celebration, attended by students, researchers, community members, and officials, was led by Minister of Environment Dr. Dhammika Patabendi, who emphasized the country’s commitment to preserving biodiversity and promoting sustainable development.

Delivering the keynote address, Minister Patabendi said, “As a government, we are committed to taking every possible step to protect our ecosystems and biodiversity. But this is not the responsibility of the government alone. It is a shared responsibility—one that requires the active participation of every citizen.”

The event highlighted the value of community involvement in conservation and featured a series of exhibitions and talks focused on sustainable tourism, traditional food systems, and environmental education. Locally sourced underutilized fruits and indigenous foods were displayed and shared by communities, underscoring the deep ties between biodiversity and traditional knowledge.

The celebration also featured two major guest lectures. Professor Cyril Wijesundara spoke on the current status of biodiversity in Sri Lanka, while Professor Gamini Pushpakumara presented on the promotion of underutilized food crops—a key element in ensuring food security and sustainability in the face of climate change.

“This is more than a celebration,” Minister Patabendi told journalists at the event. “It’s a reminder that sustainable development must go hand-in-hand with nature. We need to build our future with the forest, not against it.”

By Ifham Nizam