Sri Lanka Stock Picks

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Wednesday, May 26, 2010

Lanka Orix Leasing Company purchased hotel stakes: Colombo Stock Market was down again

DAILY MARKET REVIEW

25/05/2010 (S.L.S.Picks) – Colombo Stock Market was down for the second consecutive day today for this week. There were renewed buying interest on selected stocks & the improved quarterly reports published by the listed companies for the JAN – MARCH 2010 quarter (Three months) may have lifted the investor attention.

LOLC today announced that they have purchased 3.1m.n. Shares or 43.3% of in Confifi Hotel Holdings @ Rs 210/ share & purchased 20% of Riverina Hotels @ Rs 110 /share.

Foreign participation was at moderate levels. Foreigners remain as net sellers for the day by Rs 372m.n Foreigners purchased Rs 606m.n. worth of shares & sold shares worth of Rs978m.n.for the day.

Stores & Suppliers sector rose by 4.36% due to share price increase in Colombo Pharmacy, followed by Health Care sector. IT sector was heading sector the negative performers list.

There were 55 positive contributors as against 82 negative contributors for the day.

ANNOUNCEMENTS

RICHARD PIERIS Co. PLC First & Final Dividend of Rs 1.00 /share

WATAWALA PLANTATIONS PLC Final dividend of Rs 2.75/share

AITKEN SPENCE PLC Final dividend of Rs 6.50 /share

KOTAGALA PLANTATIONS PLC First & Final dividend of Rs 3.00 /share

AITKEN SPENCE HOTEL HOLDINGS PLC First & Final dividend of Rs 1.50 /share

NAWALOKA HOSPITALS PLC Interim Dividend of Rs 0.05 /share

CLOSER LOOK

There were several large Crossings took place today including the purchased of stakes in Confifi Hotel Holdings & Riverina Hotels by the LOLC.

Apart from this there were large crossings in Commercial Bank Of Ceylon @ Rs 246.00 & Janashakthi Insurance @ Rs 14.00 & Fortress Resorts @ Rs 20.00 share.