Business
‘Unexplained jump’ in Chemanex share price: market analysts
by Hiran H. Senewiratne
Activities on the Colombo Stock Exchange (CSE) were sluggish yesterday, but an unusual share price increase was witnessed in Chemanex Plc, one of the leading producers and importers of industrial chemicals and intermediates in Sri Lanka.
Its share price increased by 25 percent or Rs. 18.60 without any proper reasons and became one of the main retail market contributors to the turnover, stock market analysts said.
Its share price started trading at Rs. 74.60 per share and at the end of the day it shot up to Rs. 93.20.
Amid those developments market activities indicated mixed reactions. All Share Price Index down by 12.93 points and S and P SL20 up by 3.28 points. The turnover stood at Rs 1.24 billion without a single crossing.
In the retail market companies that mainly contributed to the turnover were Dip Products Rs 310 million (one million shares traded), Expolanka Rs 105 million (4.08 million shares traded), Kelani Tyre Rs 72.4 million (899,000 shares traded), Central Industries Rs 70.6 million (645,000 shares traded) Commercial Bank Rs 49 million (640,000 shares traded) and Chemanex Rs 44.5 million (510,000 shares traded). During the day 39.04 million share volume changed hands in 16,553 transactions.
Business
SEC renews partnership with the University of Jaffna to empower future capital market professionals
The Securities and Exchange Commission of Sri Lanka (SEC) renewed its Memorandum of Understanding (MoU) with the University of Jaffna, strengthening its commitment to developing the next generation of capital market professionals.
The partnership with the University of Jaffna began in 2009, as part of the SEC’s broader initiative to collaborate with national universities in 2008. This has been instrumental in bridging academia and the capital markets industry. The latest renewal reinforces this collaboration, ensuring undergraduates continue to benefit from a robust platform for academic and professional growth.
The renewed MoU continues to offer a range of benefits to undergraduates, including academic recognitions such as gold medals and cash awards for excellence in capital market-related subjects, opportunities for research grants in the field, and enhanced industry exposure through internships and hands-on learning experiences facilitated by the SEC.
The revised MoU was formally signed with the participation of key representatives from the University and the SEC. Tushara Jayaratne, Deputy Director General of the SEC, represented the Commission, while University of Jaffna was represented by its Vice Chancellor, Prof. Sivakolundu Srisatkunarajah, Prof. N. Kengatharan, Dean of the faculty of Management Studies and Commerce and Prof. Lingesiya Kengatharan, Head of Department of Financial Management.
The SEC continues its mission to expand partnerships with other national universities, emphasizing its dedication to creating professional opportunities for students across the country. Through initiatives like these, the SEC aims to inspire a new generation of forward-thinking professionals, fostering academic excellence and driving innovation in Sri Lanka’s capital market.
Business
SLIC conducts ‘General Insurance Quiz Competition 2024’
Sales professionals from Sri Lanka Insurance Corporation General Ltd (SLICGL) converged at the Head Office on 11th November 2024, to compete in the grand final round of the General Insurance Quiz Competition 2024 and awards ceremony. The eagerly anticipated annual event hosted by SLICGL celebrates knowledge, teamwork and competitive spirit among its sales force across all its regional offices. The competition comprised regional and inter-regional rounds, culminating in an exciting final witnessed by the Chairman, Group CEO, COO, and other top management of the company, adding further prestige to the event. The Eastern Regional Team emerged triumphant as Champions while the Man of the Match was awarded to S.A.W.M. Sathurusinghe, representing the Western 3 Region.
Business
Sampath Bank renews partnership with NCE
Sampath Bank has once again reinforced its unwavering support for Sri Lanka’s export community by renewing its partnership with the National Chamber of Exporters (NCE) for the 32nd Annual Export Awards. This significant milestone reflects the Bank’s long-standing commitment to empowering the nation’s exporters through tailored financial solutions, fostering ethical trading practices, and driving sustainable economic growth.
The official signing ceremony, held at the Sampath Bank Head Office, was attended by senior representatives from both organisations. This partnership emphasises Sampath Bank’s role as a trusted financial ally to exporters, with plans to support key NCE-led initiatives, including the much-anticipated Annual Export Awards on 6th December 2024.
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