Colombo Stock Watch

CSE rebounds on retail, foreign buying

FT.lk — Wed, 22 May 2013 19:05:48 +0000

Reuters: Shares recovered on Wednesday on thin volume as retail investors bought mid caps, prompted by a fall in interest rates, while foreign investors preferred banking shares, dealers said. The main stock index rose 0.31%, or 19.98 points, to close at 6,461.62. “It was retail driven,” said a stockbroker on condition of anonymity. Market turnover [...]

Harsha appointed to Chevron Lubricants Lanka board

FT.lk — Wed, 22 May 2013 18:44:46 +0000

Top lawyer Harsha Amarasekera has been appointed as a Director on the Board of Chevron Lubricants Lanka Plc with effect from 1 June. Amarasekera is a President Counsel and has wide practice in the Original Courts as well as in the Appellate Courts. He has specialised in Commercial Law, Business Law, Securities Law, Banking Law [...]

“Ceylon Tea” gets boost in Shanghai

FT.lk — Wed, 22 May 2013 18:44:01 +0000

Sri Lanka Consul General’s office in Shanghai, China launched a promotion campaign to create awareness on “Ceylon Tea”. The event was organised on May 11. Black Tea, or Hong Cha as called in Chinese, is a popular beverage in Shanghai. The campaign targets to promote Sri Lanka’s famous teas as a high end product in [...]

“YTD Net Foreign Inflow at LKR12.4 bn; S&P SL20 index at a YTD gain of 18.7%…”

Softlogic Equity Research — Wed, 22 May 2013 03:31:47 +0000

Daily Trade Journal – CSE Diary for 21.05.2013 Indices journeyed on a consolidation path: The bourse moved on a consolidation path today as the benchmark index took a steep downturn after a 19 point gain at its peak during mid-day to an intra-day low of 6,423.04 points (-43 points). However it closed with [...]

Bourse consolidates as net foreign inflow tops Rs. 12 b

FT.lk — Tue, 21 May 2013 19:29:08 +0000

The Colombo stock market yesterday consolidated itself with ASI marginally down and blue chip S&P SL20 Index up whilst foreign buying remained robust with net inflow topping the Rs. 12 billion mark. “Reversing Monday’s gains, the ASPI lost 0.4% as investors took profit from the market’s ascent over the last week. Turnover jumped to [...]

Banks’ investments in gilt unit trusts made liquid assets

FT.lk — Tue, 21 May 2013 19:27:53 +0000

The Securities and Exchange Commission (SEC) said yesterday that the Monetary Board has approved the conditional inclusion of investments in Guilt Unit Trusts (GUTs) by Licensed Commercial Banks and Licensed Specialised Banks under the definition of “liquid assets”. The conditions are GUTs should be open ended unit trusts; the underlying investment portfolio of GUTs should [...]

14th Sri Lanka Economic Summit from 9-11 July to focus on ‘Re- Balancing the Economy

FT.lk — Tue, 21 May 2013 19:06:08 +0000

The Sri Lanka Economic Summit 2013, the flagship event of the Ceylon Chamber of Commerce will be held on the 9, 10 and 11 July 2013 at the Cinnamon Grand, Colombo under the theme ‘Re- Balancing the Economy’. The Sri Lanka Economic Summit brings together the best of Corporate Sri Lanka and world renowned academics, [...]

NDB Capital Holdings records 6.5-fold growth in profitability for 1Q 2013

FT.lk — Tue, 21 May 2013 18:30:33 +0000

The first quarter of 2013 was a highly successful period for NDB Capital Holdings PLC (NCAP), with the company recording Rs. 320 million in revenue compared to Rs. 64 million during the first quarter of 2012, a fivefold growth. This increased revenue translated to a profit of almost Rs. 297 million at company level for [...]

Sri Lanka’s potential in the new Asian hemisphere

FT.lk — Tue, 21 May 2013 18:30:27 +0000

By Shabiya Ali Ahlam Sharing how Singapore went through short-term pain for long-term gain, an acclaimed expert on world affairs of that country said that Sri Lanka must take in the views of the public. Inaugurating the Eminent Speakers Series at the Miloda Academy of Financial Studies recently, Dean of Lee Kuan Yew School of [...]

Marketwatch Daily : Rally in big caps continues

LOLC Securities — Tue, 21 May 2013 05:16:09 +0000

Bullish sentiment prevailed today to continue the rally, although the momentum slowed down a bit towards the end. Interest was witnessed in index-heavy counters while foreigners showed interest in COMB (foreign stake increased by 1,136,859 shares) where the share price closed at LKR 122.10 gaining 2.61%. JKH continued to rally also while the share price closed at LKR 297.10 gaining [...]

Marketwatch Daily : Market rallies

LOLC Securities — Tue, 21 May 2013 05:10:35 +0000

Market continued its bullish sentiment for the second consecutive day, while YTD Net Foreign Inflows surpassed LKR 11 Bn level. Foreign investor interest was vested mainly upon DIAL while the foreign stake of the counters increased by 10,523,599 shares. Foreign stake of COMB and HNB increased by 684,501 and 616,653 shares respectively. Price of Dial closed at LKR 9.80 [...]

Marketwatch Daily : Foreign activities raise bourse

LOLC Securities — Tue, 21 May 2013 05:07:47 +0000

Indices were rallying through out the day, turning back the market in to a bullish sentiment. High interest was witnessed over SPEN while the counter captured 53% of the market turnover. Price of SPEN closed at LKR 133 (-1.41%) while two crossings took place at LKR 132.60. Foreign investors were interested more on GLAS and DIAL with foreign [...]

Marketwatch Daily : Bourse almost stagnant

LOLC Securities — Tue, 21 May 2013 05:04:27 +0000

Indices remained stagnant, while a gradual rise was witnessed towards the end of the day, closing the market in a mixed note. JKH captured 26% of the market turnover while the price closed at LKR 274.20 (+0.44%). Price of NDB closed at LKR 174.90 (-2.29%). Interest was witnessed on PCH while the price closed at LKR 3.80 with a [...]

‘‘Net earnings grew 98% YoY led by commodity price stability and dip in exchange losses driven by favourable currency”

Softlogic Equity Research — Tue, 21 May 2013 03:22:04 +0000

Nestle Lanka [NEST: LKR1901.9] ANALYST SIGNAL: ‘‘UNDERWEIGHT’’ EARNINGS TALK: Nestle Lanka [NEST: LKR1901.9], concluded 1Q2013 with net earnings up 98% YoY at LKR914 mn. Gross margin improved by 210 bps YoY and 100 bps QoQ to 35% while operating profit margin recorded 14.4% cf 8.8% during 1Q2012. Net earnings dipped 3.8% on a QoQ [...]

“Bourse further extended its gains nearing 6,500 points…”

Softlogic Equity Research — Tue, 21 May 2013 03:16:20 +0000

Daily Trade Journal – CSE Diary for 20.05.2013 Indices extending its upward drive: The bourse sustained its rally today with notable buying pressure across the board. During the early morning session, ASPI rushed on the rally to reach 103 points. However it lost momentum during the mid-day to denote a market correction and eventually [...]

JKH soars to a $ 2 b company; market cap tops 10% mark

FT.lk — Mon, 20 May 2013 19:55:29 +0000

Premier blue chip John Keells Holdings Plc’s (JKH) recent meteoric rise reached a climax yesterday when its market value crossed the $ 2 billion mark, thereby surpassing the 10% share of the CSE’s total. Share price of JKH yesterday hit an intra-day high of Rs. 298.50 before closing at Rs. 297.10, up by Rs. 12.20. [...]

Hayleys records highest-ever pre-tax profit of Rs. 5 b

FT.lk — Mon, 20 May 2013 19:53:55 +0000

Group turnover up 13% 74.3 b Three keysectors Hand Protection, Purification Products and Transportation and Logistics individuallysurpass PBT of Rs. 1 b Group after tax profit up 119% to Rs. 3.6 b; net profit attributable to equity holders up 78% to Rs. 1.8 b Hayleys Plc., one of Sri Lanka’s leading conglomerates, yesterday announced an [...]

Sunil appointed as Chairman at Watawala Plantations

FT.lk — Mon, 20 May 2013 19:37:26 +0000

Longstanding chief Sathasivam steps down but will continue as director Sunil Wijesinha has been appointed as the Chairman of the Watawala Plantations PLC. He succeeds Govindasamy Sathasivam who has stepped down, having been in the top seat from 1996. However, Sathasivam will continue to serve the Board as a Director. Wijesinha who was a Director [...]

Future of insurance in Sri Lanka

FT.lk — Mon, 20 May 2013 19:14:08 +0000

With the segregation of composite insurance companies coming into effect from February 2015, the insurance industry is gearing up to be well-equipped with ample knowledge to embrace the transition as smoothly as possible. View article at source Future of insurance in Sri Lanka

“Bourse extended gains with heavy caps emerging to the edge…”

Softlogic Equity Research — Mon, 20 May 2013 03:27:09 +0000

Daily Trade Journal – CSE Diary for 17.05.2013 Indices on a strong upward climb: The bourse saw a strong upward climb with the banking and finance sector outweighing the rest with a 50% contribution to turnover. The ASPI touched 6437.27 points (+150 points) before settling with a gain of 93 points at 6380.7 [...]

Listed debt market heads for record year

FT.lk — Sun, 19 May 2013 18:30:57 +0000

Rs. 10.5 b worth of debentures already listed; nSeveral issues worth early Rs. 15 b in the pipeline as firms take advantage of 2013 Budget incentive Two issues from Singer Sri Lanka, Senkadagala open tomorrow Hayleys, Lion Brewery among new entrants with upcoming issues worth Rs. 5 b Boosted by a specific 2013 Budget move, [...]

Bourse gains 130 points; YTD net foreign inflow reaches Rs. 11 b

FT.lk — Sun, 19 May 2013 18:30:40 +0000

With all classes of investors either active or returning, the Colombo stock market last week enjoyed sustained momentum with a 130 point gain in benchmark All Share Index and net foreign inflow reaching the Rs. 11 billion mark. The indicative downward regime in interest rates, resilient corporate earnings and robust net foreign buying are key [...]

SLT successfully completes country’s first and largest CCTV surveillance system

FT.lk — Fri, 17 May 2013 19:48:50 +0000

Sri Lanka Telecom, the national telecommunication services provider successfully connected the country’s first and largest Closed Circuit Television (CCTV) surveillance system through its advanced fibre optic-based Metro Ethernet Network (MEN) infrastructure to improve road safety and national security by providing facilities to authorities of the Sri Lanka Police Department to carry out real-time video monitoring, [...]

CB to pause after aggressive rate cut, opines SCB

FT.lk — Fri, 17 May 2013 19:46:51 +0000

Standard Chartered Bank yesterday described the Central Bank’s policy rate cut last week as “aggressive” given some challenging issues within the economy but expects the monetary regulator to go into “pause” mode remainder of the year. “The Central Bank of Sri Lanka (CBSL) lowered policy rates by 50bps – the repo rate to 7% and [...]

Shares at 18-month high on foreign buying; Keells leads

FT.lk — Fri, 17 May 2013 19:45:11 +0000

Reuters: Shares rose on Friday to hit a new 18-month high on foreign buying, with market heavyweight John Keells Holdings leading the rally, while the rupee ended weaker on corporate dollar demand. The main stock index rose 1.49%, or 93.70 points, to close at 6,380.70, its highest since 4 November 2011. Foreign investors were net [...]

“Bourse gains with big caps in the green…”

Softlogic Equity Research — Fri, 17 May 2013 06:50:58 +0000

Daily Trade Journal – CSE Diary for 16.05.2013 Index jumps 66 points: The Colombo stocks saw a continuous uptrend today driven by the large cap counters regaining institutional, high net worth and foreign interest. The surge in the index was heavily weighted upon John Keells Holdings, Ceylon Tobacco Company, Lanka Orix Leasing, Commercial Bank [...]

Abans to change shopping concept with huge $ 100 m lifestyle mall in Colombo

FT.lk — Thu, 16 May 2013 18:40:56 +0000

The Abans Group in collaboration with Silver Needle Hospitality signed an agreement on 13 May with AEDAS an internationally reputed, award winning architectural firm to lead the design for their proposed US$ 100 million five-star super mall opposite the Beira Lake in Colombo. The construction will commence early next year and is expected to be [...]

JKH nears 10% of CSE market capitalisation mark

FT.lk — Thu, 16 May 2013 18:40:14 +0000

Market capitalisation now at Rs. 238.35 b or 9.76% of total Share price hit a new peak of Rs. 278, up 26% from end 2012 level Foreign shareholding at a high 57% Consistent improvement in the share price of John Keells Holdings (JKH) has propelled premier blue chip to almost 10% of Colombo’s market capitalisation. [...]

Retailers join foreigners as Bourse remain on the up

FT.lk — Thu, 16 May 2013 18:30:57 +0000

Market cap surpasses Rs. 2.4 trillion level The Colombo stock market yesterday saw a continuous uptrend driven by the large cap counters regaining institutional, high net worth and foreign interest. The Bourse’s value rose by Rs. 30 billion yesterday which saw market capitalisation surpassing the Rs. 2.4 trillion level, up 11% year-to-date, a growth mirrored [...]

Overseas Realty profits grow 33% in Q1 2013

FT.lk — Thu, 16 May 2013 18:30:30 +0000

Consolidated profits of Overseas Realty (Ceylon) PLC recorded a strong performance in the 1st quarter of 2013, with group profit of Rs. 504 million growing 33% over the previous year’s corresponding quarter. Growth in profits was driven by strong performance from leasing of office space at the World Trade Center (WTC) Colombo where revenues of [...]