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.

Thursday, July 1, 2010

Colombo Dockyard purchased by EPF: Colombo Stocks Down

DAILY MARKET REVIEW

30/06/2010 (S.L.S.Picks) – Colombo stocks were down marginally today due to the continuous profit taking by the retail investors.

All share price index was down by marginal 0.52 points to close at 4612.46 & more liquid Milanka index was down by 21.73 points to close at 5278.35

Turnover for the day was a healthy Rs 4.6b.n backed of retailers buying into low valued stocks, Plantation Stocks & speculative stocks. However large turnover was boosted by the strategic deal of 6,843,708 shares of Colombo Dockyard Company @ Rs 280.00/share. The buyer was Employees Provident Fund & the seller was Horizon Representation of Companies based in Dubai as per the reports published by Colombo Stock Exchange.

Foreigners were net sellers today by massive Rs 1.6b.n. This includes the Transaction of Colombo Dockyard as well. Foreign purchases were at Rs 485m.n. & foreign sales were at Rs 2.1b.n

Land & property sector index rose by 3.17% & was the leading sector among all sectors for the day due to the price appreciation of many property development sector Companies led by Equity One PLC, followed by Plantation sector. The leading negative performing sector for the day was the IT sector.

There were 77 gainers as against 73 negative performing counters.

CLOSER LOOK

Govt fund EPF today purchased 6,843,708 shares of Colombo Dockyard Company at Rs 280.00 /share.

Shares of Overseas Reality & Colombo Land have not appreciated during the recent Property Sector rally very much. We strongly believe that these two Companies have a great potential to move further up in short to medium term.

Comparison - Overseas Reality VS Equity One

(Details for last three months ended 31/03/2010)

	OVERSEAS REALITY (CEYLON)	EQUITY ONE PLC
Share Capital	562,322,906	40,321,730
Net Assets Value / Share (Rs)	23.82	36.40
Assets (Rs)	21,554,551,000	2,491,319,000
Liabilities (Rs)	4,415,908,000	1,023,460,000
Earnings Per Share / (LOSS) (Rs)	0.31	(1.05)
Total Revenue (Rs)	328,299,000	63,911,000
Gross Profit / (Loss) (Rs)	273,973,000	(11,383,000)
Net Profit / (Loss) (Rs)	192,728,000	(42,242,000)
Profit Increase /(Decrease)	72%(Profit increase)	88% (Reduction in losses)
Share Price (Rs) as at 30/06/10	22.50	72.25