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SG Holdings buys into Expolanka Holdings stocks, boosting net foreign inflow

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By Hiran H.Senewiratne

SG Holdings bought into Expolanka Holdings’ stocks to boost the net foreign inflow at the CSE, market analysts said.CSE ‘s most profitably listed entity, Expolanka Holdings, saw 11.1 million of its shares change hands via 923 trades for Rs. 2.5 billion. Among the transactions, there were 53 crossings involving 10 million shares at Rs. 225 each. The share price of Expolanka increased by Rs. 4.25 (1.96 per cent) to close at Rs. 220.75.

Expolanka contributed 37 per cent to the day’s turnover at the CSE which saw a rebound in investor sentiment.With SG’s purchases net foreign inflow amounted to Rs. 2.3 billion yesterday, boosting the year to date figure to Rs. 4 billion and Rs. 3.5 billion for September so far. Between early August and last week SG Holdings had collected 10 million shares and with yesterday’s quantity it has acquired a 1.36 per cent stake in addition to the existing shareholding of 75.6 per cent.

Amid those developments CSE was extremely bullish yesterday and penny stocks began to be active and reported considerable gains. The reason being that stock market investors and others are attracted to the equity market because the inflation rate is more than 60 per cent. Therefore, people have begun to invest in the equity market, mainly the stock market and government securities in Treasury Bonds/Bills and other commercial papers’ annual rates are also at 30 per cent, stock market analysts said.

‘The market is continuing on the previous day’s positive sentiment mainly pushed by heavyweight Expolanka. We are still seeing crossings taking place in the counter while investors are showing interest again in plantation sector shares, an analyst said.

On Wednesday, the market saw a net foreign inflow of Rs 2.29 billion, its highest since July 2019, mainly on buying in Expolanka shares.

Both indices moved upwards. The All- Share Price Index went up by 152 points and S and P SL20 rose by 64.7 points. Turnover stood at Rs 4.9 billion with four crossings. The crossings were reported in Expolanka Holdings, which crossed 3.2 million shares to the tune of Rs 732 million, its shares traded at Rs 225, Melstacorp 2.5 million shares crossed to the tune of Rs 140 million, its shares trading at Rs 57, JKH 650,000 shares crossed to the tune of Rs 81.7 million, its shares fetched Rs 126.

In the retail market top seven companies that mainly contributed to the turnover were, Expolanka Holdings Rs 419 million (1.8 million shares traded), Richard Pieris Rs 296 million (9.5 million shares traded), Lanka IOC Rs 292 million (1.2 million shares traded), Agsta PLC Rs 226 million (12.7 million shares traded), LOLC Finance Rs 208 million (31.3 million shares traded), Melstacorp Rs 160 million (2.8 million shares traded) and JKH Rs 142 million (1.1 million shares traded).

It is said mixed interest was observed in Lanka IOC, CIC Holdings and Lankem Developments, while retail interest was noted in SMB Leasing voting and non-voting, Kotagala Plantations and Tess Agro.

The Food, Beverage and Tobacco sector was the second highest contributor to the market turnover (due to Lankem Developments) while the sector index increased by 0.84 per cent. The share price of Lankem Developments recorded a gain of Rs. 3.30 (11.34 per cent) to close at Rs. 32.40. Lanka IOC, CIC Holdings non-voting and Richard Pieris & Company were also included among the top turnover contributors.Yesterday the Central Bank’s dollar buying rate was Rs 358.41 and the selling rate Rs 369.38.



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ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

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The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

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USD 40.84m pipeline to secure aviation fuel supplies to BIA

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By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

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CSE activity up, turnover weak at Rs. 1.4 billion

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By Hiran H Senewiratne 

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well.  In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.

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