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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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]
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 [...]
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 [...]
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. [...]
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 [...]
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 [...]
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
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, [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
Daily Trade Journal – CSE Diary for 15.05.2013 Bourse reverts back to the green: The benchmark index moved on a volatile note with renewed buying interest leading to a gain of 14 points at 6,221.12 points. BFI sector and Diversified sectors continued dominancy, adding 62% to the turnover. Gains denoted in heavy weights; Nestle [...]
Daily Trade Journal – CSE Diary for 13.05.2013 Indices on a corrective pattern: The bourse displayed signs of consolidation today where it traded on a restricted band during trading. Morning session witnessed continued selling pressure where the index dropped by 40 points, leading to an eventual recovery in the late trading session to settle [...]
Indices rallied at the latter half of the day surpassing the resistance level of 6,000. JKH was the top turnover provider, with capturing two crossings at LKR 252. Price of JKH closed at LKR 252.80 (+1.12%). Foreign stake of COMB increased by 450,150 shares while the price closed at LKR 116.60 (1.39%). Interest could be witnessed in CLND [...]
CSE Diary for 09.05.2013 Indices continued on an upward trajectory: The bourse extended gains with heavy focus on the banking and finance sector whilst touching a peak of 6,258.26 points (+40 points) during latter trading hours. Profit taking in selected counters led the benchmark index to close with a lesser gain of 28 points [...]
Daily Trade Journal – CSE Diary for 08.05.2013 High volatility in the index: The bourse continued its strong momentum in the early morning trading session. However the market dropped nearly 60 points due to a heavy sell-off and in mid and latter part of the day the bourse recovered successfully to end on a [...]
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 [...]
Ceylon Grain Elevators [GRAN: LKR51.1] ANALYST SIGNAL: ‘‘UNDERWEIGHT’’ EARNINGS TALK: Ceylon Grain Elevators [GRAN: LKR51.1] concluded 1Q2013 with net earnings growth of 220% YoY at LKR17.5 mn. Gross margin dipped 500 bps to 4% during 1Q2013 while EBIT margin dipped 400 bps YoY to 2% GRAN battled the quarter with the price control of [...]
Piramal Glass [GLAS: LKR6.6] ANALYST SIGNAL: ‘‘LT BUY’’ EARNINGS TALK: Piramal Glass [GLAS: LKR6.6], the sole flacconage glass manufacturer in Sri Lanka concluded 4QFY13 with net earnings growth of 11% YoY at LKR110 mn while full year earnings grew 6% YoY to LKR724 mn. GP margin saw an improvement of 100 bps YoY to 29% [...]
Ceylon Tobacco Company [CTC: LKR804.7] ANALYST SIGNAL: ‘‘UNDERWEIGHT’’ EARNINGS TALK: Ceylon Tobacco Company [CTC: LKR804.7] recorded net earnings of LKR1,463 mn (-2.0% YoY) backed by a marginal dip in gross revenue coupled with gross margin and EBIT margin dipping 100 bps YoY to 20% and 13% respectively. FORECASTS & VALUATIONS We revise [...]
Chevron Lubricants Lanka [LLUB: LKR229.9] ANALYST SIGNAL: ‘‘NEUTRAL’’ EARNINGS TALK: Chevron Lubricants Lanka [LLUB: LKR229.9], the country’s market leader for lubricants concluded 1Q2013 with net earnings up 16% YoY and 35% QoQ at LKR770 mn. Gross margin improved by 500 bps YoY to 38% while PBT margin was enhanced by 500 bps [...]
Piramal Glass [GLAS: LKR6.0] ANALYST SIGNAL: ‘‘BUY’’ EARNINGS TALK Piramal Glass [GLAS: LKR6.0], the sole flacconage glass manufacturer in Sri Lanka concluded 3QFY13 with earnings broadly flat at LKR207 mn while 9 months performance witnessed earnings surge 5% YoY to LKR621 mn. Its GP margin dipped 400 bps YoY to 25% during 3QFY13 while PBIT [...]
Chevron Lubricants Lanka [LLUB: LKR216.9] ANALYST SIGNAL: ‘‘NEUTRAL’’ EARNINGS TALK: Chevron Lubricants Lanka [LLUB: LKR216.9], the spearhead in the Sri Lanka’s lubricant market concluded 4Q2012 with net earnings broadly flat at LKR571 mn (+2.0% YoY) while full year earnings for 2012 registered a 14% YoY growth to reach LKR2,288 mn. The dip in earnings [...]
Ceylon Tobacco Company [CTC: LKR830.0] ANALYST SIGNAL: ‘UNDERWEIGHT’ Earnings Talk : Ceylon Tobacco Company [CTC: LKR830.0]: We revise our forecasts upwards to LKR8.9 bn (+8.0% YoY) for 2013E with continued price increases outweighing the impact from the slowing pattern of volume. However with guaranteed price increases strongly supported by price inelastic demand for cigarettes and [...]
Ceylon Tobacco Company [CTC: LKR830.0] ANALYST SIGNAL: ‘UNDERWEIGHT’ Earnings Talk : Ceylon Tobacco Company [CTC: LKR830.0]: We revise our forecasts upwards to LKR8.9 bn (+8.0% YoY) for 2013E with continued price increases outweighing the impact from the slowing pattern of volume. However with guaranteed price increases strongly supported by price inelastic demand for cigarettes and [...]
Textured Jersey [TJL: LKR10.1] ANALYST SIGNAL: ‘BUY’ Earnings Talk : Textured Jersey [TJL LKR10.1], Sri Lanka’s leader in cotton blended fabrics recorded a striking 95% YoY growth in earnings during 3QFY13, with cumulative earnings for the 9 months surpassing FY12’s full year net earnings of LKR628 mn to LKR694 mn. The solid growth in earnings [...]
DFCC, the 1st Specialized Development Bank in the country, expanded into commercial banking during 2003 by acquiring its 99% owned subsidiary DFCC Vardhana bank (DVB) which operates as a Licensed Commercial Bank (LCB). The two entities are operationally merged despite existing as two separate legal entities. DFCC embarked an aggressive expansionary drive in its commercial [...]
TJL, one of the largest knit apparel fabric manufacturers backed by two globally acclaimed apparel industry leaders, is well poised for growth via its expansion strategy coupled with the streamlining of operations. A significant cost advantage is likely to flow into the bottom line which is expected to grow at a CAGR of 38% FY12-15E [...]
“Net Income increased 20% YoY during 3Q2012; NIM continues its recovery path” ANALYST SIGNAL: ‘ACCUMULATE’ Excerpts of the attached: Earnings Talk : Hatton National Bank [HNB.N: LKR142.0, HNB.X: LKR108.5] witnessed its net profit surging 26.3% YoY to LKR4,917.3 mn during 1-3Q2012 slightly above our expectations. The earnings during 3Q2012 grew 21.4% YoY to LKR1,676.4 mn [...]
Sri Lanka has been witnessing a persistent weakening of its export capacity, with the exports to GDP ratio falling to a low of 16.4 per cent in 2012, and a declining share of the global export market. In 2012, earnings from exports contracted by 7.4 per cent, and have continued to contract by 8.1 per [...]
Market has seen the second consecutive negative year after the bubble burst in 2011. In 2011 ASPI dropped by 22% from all-time peak in February to year end and in 2012 the market drop has been more moderate with a drop of 7.1% albeit a considerable drop in a year where global markets have performed [...]
The budget proposals for 2013 continued to be welfare-oriented and forecasted an ambitious 5.8% deficit (down from a forecasted 6.2% in 2012). The total proposed revenue for the year 2013 amounts to LKR 1,278bn while expenditure amounts to LKR 1,785bn, of which LKR 1,267bn is accounted as recurring. Overall, the 2013 [...]
In line with the incumbent governments five year development agenda under the “five hub concept”, the budget proposals for the years 2011 and 2012 were unveiled and were hailed as “pro investor/ pro consumer” budgets. Expenditure on large scale development projects, simplification of the existing tax structure, and promotion of import substitution activities comprised the [...]
Chevron Lubricants Lanka PLC (a subsidiary of the global giant Chevron Corporation [CVX: US]), the market leader in the Sri Lankan lubricant industry, has come through a journey against plenty of challenges and has remained steady amidst a strong competition. Top-line has improved at a CAGR of 13% after the dip in 2009 and the [...]
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STOCK PICKING IN TOUGH TIMES Hasitha Premaratne lays out a prudent strategy to invest in the stock market at a time of bearish sentiment – as has been the case for most of this year The market fell 21 points in July and a further 90 points in early August, as average daily turnover [...]
Investor Sentiment Bound to Improve in the Future Samantha Amerasinghe sees a bright light at the end of the dark tunnel Due to elevated inflation pressures, Sri Lanka is not able to reduce interest rates, unlike its regional counterparts. Headline inflation, at 9.8 per cent year-on-year (y-o-y) in July (up from 9.3 per cent y-o-y in June) is [...]
Confidence in Positive Territory The upbeat sentiment endures as the distinctive indicator of biz confidence advances for a second consecutive month The sheer resilience of local business, in spite of the many curveballs thrown its way – be it in the form of abrupt policy amendments or a worsening global economic scenario – is indeed [...]
View article at source MICROCOSM
For a start I would like to congratulate you on your very powerful editorial last Sunday. The recent resignation of Thilak Karunaratne and the appointment of Nalaka Godahewa as the new SEC Chairman is a blow for good governance. Nalaka Godahewa is a qualified professional and therefore he has technical knowledge to be in the [...]
Few things seem to bother ordinary citizens than the prospective returns from the local share market. Many have dabbled in stocks with the mistaken belief that one can turn a quick Rupee. My sabbatical over the last three months from these pages have alowed for various questions on the topic dominate my inbox. Here in [...]
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