Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Friday, February 26, 2010

SRI LANKA - COLOMBO STOCK MARKET CONTINUES ITS UPWARD TREND

26/02/2010 - Colombo Shares were up today by 0.68% to close at 3807.86 & the more liquid Milanka price Index was up by 7.46 points to close at 4354.73 on a shortened day trading. All share price index finally breaks the barrier of 3800 today.

Turnover for the day was Rs 787 m.n.

There was a net foreign out flow of Rs160 m.n today. Foreigners purchased shares worth of Rs 102 m.n. & sold shares worth of Rs 262 m.n.

TOP FIVE GAINERS FOR THE DAY TOP FIVE LOSERS FOR THE DAY

CROSSINGS FOR THE DAY

NOTE

HNB one of Sri lanka's largest private sector commercial bank has released its annual report for the year 2009 today with a growth of 58%.

We believe that HNB is in a very good position with a wide branch net work, good representation in North & East areas to grab the future available opportunities created after the end 0f 30 year old civil war.
Pending dividend of Rs 5.00 .

See reoprt HNB -

Feb 26, 2010 (LBO) - Sri Lanka's Hatton National Bank (HNB) said group net profits for the 2009 financial year rose 58 percent to 4.5 billion rupees with gains from investments in government securities while the loan book shrank.
The bank said in a stock exchange filing that group December quarter profits shot up 156 percent to 1.8 billion rupees from a year ago.

Basic earnings per share for the year were 19.03 rupees compared with 12.02 rupees the previous year.

Interest income rose six percent to 34.8 billion rupees, with interest income on loans stagnant while there was a 38 percent rise in income from other interest earning assets

Interest expenses were stagnant at 20.3 billion rupees allowing net interest income to rise 16 percent to 14.6 billion rupees during the year.

Non-interest income rose three percent to 5.7 billion rupees with forex income down sharply but fee income growing

HNB showed a reversal of 22 million rupees on general loan provisioning in 2009 compared with a provision of 484 million in 2008 while specific provisions rose eight percent to 730 million rupees.

Performing loans fell four percent to 162 billion rupees as at December 31, 2009 from the beginning of the year and bad loans fell eight percent to 12.5 billion rupees over the year.

Total group assets rose nine percent to 288 billion rupees. - source www.lbo.lk