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Some Dhammika Perera-controlled entities register gains

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By Hiran H.Senewiratne 

CSE activities were bullish  yesterday and manufacturing sector counters, mainly  controlled by Dhammika Perera, witnessed considerable gains, especially Hayleys Group, Dipped Products and Royal Ceramic,  stock analysts said.

 Bourse continued its drive in a positive direction for the third consecutive session while sustaining its winning streak for the third consecutive day. Index experienced a zigzag movement throughout the day while reaching an intra-day high of 7,257  and recording a low of 7,209, while closing at 7,280  levels, gaining 25 points for the day. 

During the day, both indices  moved upwards. The All Share Price Index went up by 62.44 points and S and P SL20 rose by 60.18 points. Turnover stood at Rs. 2.48 billion, with a crossing. The crossing took place in Hayleys Group, which crossed 300,000 shares to the tune of Rs. 21 million. its share price being Rs. 70.

In the retail market, top six companies that mainly contributed to the turnover were,  Hayleys Group Rs. 364.6 million (five million shares traded), Dipped Products Rs. 263 million (5 million shares traded), Royal Ceramic Rs. 227.5 million (773,000 shares traded), Expolanka Rs. 201.1 million (4.3 million shares traded), Sampath Bank Rs. 150 million (2.8 million shares traded) and Sampath Bank Rs. 150 million (2.8 million shares traded). During the day 69.2 million share volumes changed hands in 23114 transactions.  

The  manufacturing sector companies that mainly witnessed gains were, Hayleys Group 9.5 percent or Rs. 6.40. Its shares started trading at Rs. 67.40, and at the end of the day they moved up to Rs. 73.80, Dipped Products witnessed a 10 percent or Rs. 5 gain. Its share price initially stood at Rs. 49.32 and at the end of day it shot up to Rs. 54.30, Royal Ceramic gained 10 percent or Rs. 27.25. Its shares started trading at Rs. 278.25 and at the end of the day they moved up to Rs. 305.50 and Expolanka experienced a 3 percent or Rs. 1.30 gain. Its shares began trading at Rs. 46.20 and at the end of the day they moved to Rs. 47.70.    

However,  plantation sector counters/stocks plunged after President Gotabhaya Rajapaksa said they would be required to uproot oil palm from the fields in stages and said imports of palm oil were banned from April 6. Coconut plantation shares soared.

Watawala Plantations plunged 8  percent, falling Rs. 4.20  to Rs. 53.00 during trading yesterday. Namunukula Plantations plunged seven  percent or were down to Rs.  170.20 , falling Rs. 7.

Kegalle Plantation fell 4.67 percent or Rs. 4.60 to trade at  Rs. 94  per share, Elpitiya Plantations fell Rs. 1.10  to Rs. 43.000  and Agalawatte Plantations fell 30 cents to trade at Rs. 27.70. 

Further, National Development Bank and Lankem Ceylon PLC announced right issues. Seylan Bank’s Rs. 6 billion worth listed debenture had been snapped up on its official opening day yesterday.

 

 



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INSEE Ecocycle to provide waste management solutions for Galle Analytical Lab

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Signatories to the agreement were Mrs. Dharshani Lahandapura, Chairperson and Dr. P.B. Terney Pradeep Kumara, General Manager, MEPA and Sanjeewa Chulakumara, Director of INSEE Ecocycle Lanka (Private) Limited together with senior officials from both organisations

INSEE Ecocycle, the nation’s pioneer in sustainable waste management has joined hands with the Marine Environment Protection Authority (MEPA), the apex body established to prevent, control and manage pollution in Sri Lanka’s marine environment, to provide Sustainable Integrated Waste Management Solution for the MEPA’s Galle analytical laboratory recently.

Prior to the agreement, no sustainable solution for analytical laboratory waste and chemical waste existed in the country. This hazardous waste was accumulated at laboratory premises or due to misconduct, was discharged into the open environment such as drains, soil or natural water streams etc. As a result, possible environmental impacts such as soil acidification or soil alkalization, eradication of aquatic plants and animals, possible ground water contamination, acid rains and ozone depletion could have taken place.

Similarly devastating human health impact such as skin cancers, liver damage, blindness, neurological disorders, adverse pregnancy outcomes and bioaccumulation were also a possibility.

Commenting on the agreement Sanjeewa Chulakumara noted, “INSEE Ecocycle is proud to partner with MEPA for analytical laboratory waste management and we highly appreciate the commitment and the passion of the senior management of MEPA for this collaborative sustainable initiative, which is a great example to other government institutions in the country as well.”

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94% of consumers in APAC considering the use of emerging payment methods: study

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As a result of the pandemic, enthusiasm for a broader range of payment technologies has accelerated in the Asia Pacific region as 94% of people say they will consider using at least one emerging payment method, such as QR codes, digital or mobile wallets, installment plans, cryptocurrencies, biometrics and others, in the coming year. This is according to the Mastercard New Payments Index conducted across 18 markets globally, including India, Australia and Thailand, which reveals that 84% of consumers in APAC already have access to more ways to pay compared to one year ago. Of note for entrepreneurs, 74% of respondents said that they would shop at small businesses with greater frequency if they offered additional payment options.

“Mastercard’s study finds that people in the Asia Pacific region haven’t just adopted new payment technologies—they’ve made deliberate shifts based partly on necessity, but also on considerations around personal safety, security and convenience, at a time when these concerns were paramount,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard. “Consumers in Asia Pacific have already gained recognition globally for their openness to new technologies and innovation, and these findings confirm that this trend is only set to continue as more digital payment options rapidly become mainstream in this part of the world.”

About Mastercard (NYSE: MA), www.mastercard.comMastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

 

 

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ASPI skyrockets to reach 3 ½ weeks high

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Turnover recorded at a healthy level at Rs. 2.7bn

Bourse premiered the week shooting the index remarkably high to reach a 3 ½ weeks top. ASPI displayed a stepped upward trend and surged in the first hour of trading followed by a sideways movement during mid-day and ended with a gradual uptrend to close at 7,350 gaining 122 points.

Turnover was recorded at a healthy level at LKR 2.7Bn powered by the active retail participation. Food, Beverage & Tobacco sector dominated the turnover closely followed by the Capital Goods sector to generate a joint contribution of 50%. Foreign investors remained net sellers while recording low participation.

-First Capital Research

 

 

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