Friday, November 4th, 2011 at 10:41 pm
For the Week ended 4th November 2011.
Market closed higher over previous week thanks to sudden gain reported on Wednesday. ASI 58.08 points to end the week at 6406.52 while Milanka Index closed at 5698.85, up 36.96 points. Week’s total equity turnover amounted to 6.49 billion rupees compared to 2.17 billion reported for the previous week. Net foreign inflow of Rs 126,220,421.00 recorded for the period.
Pelwatte Sugar Industries Plc has announced the postponement of proposed Right Issue until the outcome of new act to be introduced by the government regarding unused or failed business and land acquisition. Pelwatte Sugar Industries Plc shares lost 1.90 on Friday to close at 27.00 rupees.
People’s Leasing IPO the recent largest IPO in Sri Lanka closed on its opening day due to over subscription. PLCL IPO finals subscription figures yet to be released.
CSE has approved application for listing ordinary voting shares of the Asia Asset Finance Ltd for a Diri Savi Board listing . Asia Asset Finance Ltd will issue 120,000,000 shares, with the option being reserved with the Board to accept a further 50,160,129 Ordinary Voting Shares at a price of LKR 2.50 per share.
Friday’s turnover was the lowest turnover recorded after year 2009. Market failed to sustain the quick spike recorded on Wednesday. Fresh foreign investment is critically needed to kick start the bullish trend of the market.
Colombo Stock Exchange will be closed for trading on Monday due to 07th November 2011 being declared a Public and Bank Holiday by the Ministry of Public Administration & Home Affairs
Friday, October 14th, 2011 at 9:44 pm
Weekly Stock Market Review for the week ended 14th October 2011.
Fresh foreign investor participation in Colombo Stock Exchange during the week failed to motivate local investors. CSE All Share Index fell 148.92 points for the week under review to close at 6,549.91 while Milanka Index dipped by 99.81 points to close the week at 5,878.33. Total turnover for the period amounted to 6.81 billion rupees. Net foreign purchases amounted to Rs 592,612,099.00.
Central Bank of Sri Lanka declare that Employees’ Provident Fund has purchased 33,000,000 ordinary voting shares of Laugfs Gas PLC at a price of Rs 48/- per share on October 10, 2011. With this purchase Employees’ Provident Fund’s stake in Laugfs increased to 17.28 percent.
TFIL IPO Basis of Allotment.
At a meeting of the Board of Directors of the TFIL it was resolved that the Six Million (6,000,000) Ordinary voting shares in the Company applied for under the above offer be allotted to the aforesaid applicants in the following manner.
Applicants up to 25,000 shares, be allotted and issued the entire amount of shares applied for. Applicants of over 25,000 shares be allotted and issued 25,000 shares and 25% of the remaining shares applied for, provided that applicants entitled to 50 shares on this percentage basis be allotted and issued a further 50 shares to prevent the allocation of odd lots.
During the week Expolanka has announced further investments in their foreign joint ventures namely in Expolanka Pakistan (Pvt) Ltd and Expolanka Freight (Vietnam) Limited.
Market is expected to stabilise during the next week with increased institutional and foreign activity.
Friday, May 13th, 2011 at 11:52 pm
Colombo Stock Market review for the week ended 13th May 2011.
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| CSE Investors |
The benchmark All Share Index closed almost unchanged at 7319.94 while Milanka Index closed at 6769.36, up 32.48 points for the week. But there were fluctuations during the week. CSE Market
Price Earnings Ratio increased to 26.17 times. Total market turnover for the week amounted to 8.55 billion rupees. Foreigners were net sellers with net outflow of Rs 60,263,128.00.
Nation Lanka Finance was the highest percentage gainer for the week and closed at Rs 21.60, up 7.60 or 54.29 percent while Serandib Land was the biggest percentage loser and closed at Rs 956.00, down by Rs 1444.00 or 60.17 percent.
Three more registered Finance Companies namely, Bimputh Lanka Investments Ltd, AMW Capital Leasing Ltd and The Multi Finance Company Ltd got the CSE approval for listing their shares by the way of introduction.
31st March 2011 corporate results has started to flowing in. Sri Lanka Telecom Plc reported 1.29 billion rupee profit for the quarter ended 31st March 2011 while Hatton National Bank reported Rs 1.23 billion or Rs 3.42 per share profit for the quarter. Bank of Ceylon reported massive Rs 2.23 billion profit for the March quarter. Although Bank of Ceylon (BOC) not listed in Colombo Stock Exchange they have to submit their accounts as BOC is having listed Debentures.
According to unconfirmed sources the recently closed IPO
Expolanka has been oversubscribed more than five times despite controversy over pre IPO low priced sell down by directors.
Next week’s trading will be limited to three days as market will be closed on 17th and 18th for the Vesak Festival.
Friday, April 29th, 2011 at 9:01 pm
For the week ended 29th April 2011.
There were sharp losing days and marginal positive days during the week. The benchmark ASPI lost 99.85 points for the entire week and closed at 7356.97 while more liquid MPI lost 124.34 points to close at 6822.77. Total market turnover for the week amounted to 8.26 billion rupees with an average daily turnover of Rs 1.65 billion. There were Rs 721,430,768.00 foreign net outflow reported during the week under review.
Royal Ceramics Plc (RCL) has announced strong results for the financial year ended 31st March 2011. RCL profit after tax amounted to Rs 1.45 billion or 13.17 per share but closed 2.40 lower at Rs 152.60. Commercial Bank of Ceylon Plc (COMB) released quarterly results for the quarter ended 31st March 2011. COMB reported earning of Rs 2,065,300,000 for the quarter and closed at Rs 270.10, up 80 cents for the week.
Bairaha Farms lost 34.60 to close at Rs 439.10 while Three Acre Farms closed 10 rupees lower at Rs 155.60.
Securities and Exchange Commission Of Sri Lanka (SEC) relaxes 10% price band.
By way of a directive dated 28th April 2011, the SEC has directed the CSE to subject public listed companies captured under the formula to a 10% price band for 5 market days only until further notice.The SEC has also stated that the SEC will continue to closely monitor market conduct, especially in relation to the price volatility in the market and will consider further relaxations if deemed fit. However the SEC may re-impose any conditions that have been relaxed so far if the market conditions so warrant. The above directive shall be effective from 29th April 2011.
There is a controversy over
Expolanka IPO regarding pre IPO share transfers at Rs 6.00 per share from promoters to private investors.
Next Monday (2nd May 2011) has been declared a holiday by the CSE on account of the special Bank Holiday in lieu of the May Day falling on Sunday.
Saturday, April 2nd, 2011 at 12:24 am
Weekly report for the week ended 1st April 2011.
After fluctuating within narrow range Market rallied on Friday. The benchmark ASPI gained 136.95 points for the week to close at 7377.22 while more sensitive MPI was up by 186.61 points to end the week at 7024.63.
Total market turnover for the week amounted to Rs 9.82 billion compared to Rs 14.35 billion reported for the previous week. Rupees 399.40 net foreign outflow reported during the week under review.
Market Price Earnings Ratio increased to 26.27 from last week figure of 25.66 times.
Renewed interest seen for Banks Finance and Insurance sector stocks with the debut of Union Bank. Union Bank closed at Rs 36.50 on Friday after trading as high as Rs 45.00 on first day of listing. HDFC was the highest gainer and closed at Rs 1133.60, up 228.60. Central Finance was up by 192.60 to close at Rs 1242.60. DFCC Bank closed at Rs 182.60, up 8.60.
In Food and Beverages sector, Ceylon Brewery was up by Rs 30.00 to close at for hundred rupees. Bairaha Farms was up by 6.80 to close at Rs 406.90 while Three Acre Farms gained 4.30 to close at Rs 177.00. Three Acre Farms reported Earning Per Share of Rs 9.73 for the year ended 31st December 2010.
John Keells Holdings Plc (JKH) was the highest gainer in Diversified Holding sector. JKH was up by 21.90 for the entire week to close at Rs 295.60. Finlays Colombo closed 18.90 higher at Rs 338.90 while Carsons closed at Rs 647.10, up seven rupees.
Market is likely to remain positive during the next week.
Friday, March 18th, 2011 at 11:55 pm
CSE Weekly market summary for the week ended 18th March 2011.
After sharp declines on Monday and Tuesday market gained on Wednesday and Thursday but closed lower on last trading day. For the entire week ASI lost 128.08 points to close at 7184.94 while MPI lost 130.56 points to end the week at 6691.60. Total turnover for the week amounted to 7.13 billion rupees compared to 10.05 billion last week. Foreigners were net sellers with net outflow of Rs 272,569,377.00.
John Keells Holdings Plc (JKH) has announced the acquisition of 5,604,200 shares in Union Assurance Plc (UAL) at Rs 150.00 per share. With this acquisition JKH group stake in UAL has increased to 95.6 pct from 80.7 pct.
Ceylinco Stock Brokers has disclosed that their client, Palace Path Holdings (Pvt) Ltd acquired 12pct stake (60,000,000 shares) in Panasian Power Plc at Rs 4.50 per share.
A new stock broking company Arrenga Capital (Pvt) Ltd has been admitted as trading a member by CSE. The assigned broker code for Arrenga Capital (Pvt) Ltd is ARR and the broker number is 33.
FREE LANKA CAPITAL HOLDING LIMITED – IPO
SSP Corporate Services (Pvt) Ltd has informed the CSE that the above
IPO has been oversubscribed at an issue price of Rs. 5/= and the issue had been closed at 4:30 p.m. on 17-03-2011 as per the Prospectus. The basis of allotment will be notified to the CSE in due course.
SENKADAGALA FINANCE CO. LTD – INTRODUCTION
The shares of the above company would be permitted for trading from 22nd March 2011 and would be classified under the Banks, Finance and Insurance Sector. These shares would be listed on the Diri Savi Board. The assigned security code is SFCL-N-0000
Now it is unlikely that ASI to fall below 7000 index level as increased support shown around that level. Market will stabilise around current level during the next week.
Friday, March 11th, 2011 at 9:05 pm
CSE weekly Report for the week ended 11th March 2011.
According to the brokers forced selling was seen through the week to cover margin provider’s limits. The benchmark Colombo All Share Index (ASI) lost 351.7 points for the week and closed at 7313.02 while Milanka index closed at 6822.16, lost 207.26 points for the week under review. Turnover was declined to 10.05 billion rupees compared to 15.27 billion last week. CSE Market Price Earnings Ratio declined to 27.7 times from 29.02. After continuous decline, market gained on Thursday with the bargain hunters came to collect shares at lower price but failed to sustain it on Friday.
The much awaited basis of allotment of Union Bank announced on Friday. Union Bank customers were the most fortunate applicants for the IPO as applicants up to 2000 shares got what they asked for while other investors got only 100 shares up to 5000 shares applied. Applicants applied more than 5000 shares will receive 200 shares plus 0.1094 pct of the shares applied over and above 5,000 shares rounded to the nearest 100 shares .
Ceylinco Insurance Plc was the only notable gainer in Banks Finance and Insurance sector by gaining 52.30 to close at Rs 646.50. Commercial Bank of Ceylon Plc lost 7.90 to close at Rs 257.00 while Sampath Bank closed at Rs 275.90, down 8.20 for the week.
Three Acre Farms was down by 17.90 to close at Rs 162.50 while BFL closed at Rs 392.10, down 5.50. NESTLE lost twenty rupees to close at Rs 660.00.
Most of Plantation sector stocks too faced selling pressure during the week. Kelani Valley lost 15.20 to end the week at Rs 167.90 while Kegalle Plantations 11.60 to close at Rs 208.90. Kotagala lost 9.60 to close at Rs 165.20.
Foreigners were net sellers during the week with net out flow of 649.94 million rupees.
Friday, March 4th, 2011 at 7:43 pm
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| CSE Trading Floor |
For the week ended 4th March 2010.
Market Indices declined in early part of the week but recovered on Friday. ASI closed 46.9 points lower at 7664.72 while MPI closed at 7029.42, down 139.93 points for the week. Total market turnover amounted to 15.27 billion rupees.
On Friday Distilleries Company of Sri Lanka Plc (DIST) has sold 64,120,915 shares of Lanka Hospitals (Formally known as Apollo Hospital ) to an Indian Company Fortis Health Care Global Holding Pte Ltd at Rs 62.00 per share. DIST lost the controlling power in Lanka Hospitals when they lost control in Sri Lanka Insurance on court ruling. DIST closed 8.20 higher at Rs 177.20. Lanka Hospitals closed at Rs 51.80 gaining 14.00 rupees for the week.
The rights of Ceylon Guardian Capital Partners Plc (WAPO) started to trade during the week and heavy fluctuation witnessed. Extremely illiquid WAPO issued 75 new shares for every 2 shares held at Rs 20.00 per share. Investors were confused with valuing WAPO rights due to massive right issue and low liquidity of its normal shares.
The Finance (TFC) non voting stocks has commenced trading during the week for the first time and closed at Rs 18.10. TFC Non voting shares issued to their deposit holders at Rs 20.00 per share as part of restructuring process guided by Central Bank of Sri Lanka.
Aitken Spence Hotel Holdings Plc has announced a mandatory offer to purchase all the remaining shares of Browns Beach Hotels Plc at Rs 21.70.
At the end of the week foreign investors were net buyers with a net foreign inflow of 3.4 billion rupees.
The basis of allotment of Union Bank IPO may announce during the next week. The application forms and prospectus of Free Lanka Capital Holding Ltd will be available from next Monday.
Friday, February 25th, 2011 at 11:56 pm
Week ended 25th Feb 2011.
Despite heavy fluctuations in Indices during the week Colombo ASI closed only 39.13 points higher at 7711.62 while MPI closed at 7169.35, down 72.81. Total market turnover for the week amounted to Rs 12.71 billion. Market Price Earnings Ratio stood at 29.20 times.
Carson group shares fluctuated heavily during the week. Cason Cumberbatch Company Plc and The Bukit Dahara Plc offered a voluntary offer to minority shareholders of Good Hope Plc to acquire their shares. If accepted in return Good Hope shareholders will receive combination of Carson Cumberbath shares + Bukit Dahara shares + cash.
As expected Union Bank IPO oversubscribed on the opening day itself. According to provisional figures Union Bank has oversubscribed more than 225 times. It is an IPO record in the history of the Colombo Stock Exchange.
FREE LANKA CAPITAL HOLDING LIMITED has announced an IPO. Free Lanka Capital is offering 300 million shares at Rs 5.00 per share. The issue will open on 17th March 2011 and offer documents will be available from 7th March 2011.
Foreigners were net sellers with sales amounting to Rs 1.79 billion while only 0.93 billion rupee purchases.
With the increased number of IPOs in coming months the market will see some kind of selling pressure as retailers try to increase their cash positions to apply these public issues. Market will face a minor correction or may fluctuate within narrow range without a clear direction. But this will be a good opportunity for long term investors to grab fundamentally strong stocks at low prices.
Friday, February 18th, 2011 at 8:09 pm
Weekly stock market report for the week ended 18th February 2011.
Colombo All Share Index closed 85.86 points higher for the week at 7672.49 while Milanka Index closed at 7242.16, down 17.65 points. Market turnover was down to 11.69 billion rupees from 21.88 billion previous week. Trading week limited to three days. There were high foreign activity with Rs 2.23 billion purchases and Rs 3.55 billion in sales.
Market Price Earning Ratio increased to 29.02 while total number of listed companies increased to 244 with the newly listed HVA Foods.
Carson Group dominated the trading in first two days of the week. There were renewed interest in Carson’s Malaysian Palm Oil stocks due to rising world commodity prices.
There were mixed interest in tea and rubber plantation stocks while SC Securities (Pvt) Ltd has informed the CSE that their client Dr. T. Senthilverl has bought 13.49% of the total shares issued of Bogawantalawa Tea Estates PLC as of today.
Watawala Plantations PLC has incorporated Watawala Tea-Australia Pty Ltd as a 100% subsidiary in Australia on 12th January 2011 of which the certificate of registration issued by the Australian Securities and Investments Commission.The investment of AUD 7,500 by Watawala Plantations PLC in this subsidiary was made on the approval of the Exchange Control Department of Central Bank of Sri Lanka.
Retailers are building up their cash reserves to apply for upcoming IPOs including Union Bank IPO.
