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.

Sunday, December 5, 2010

Caribean firm increases stake in Coco Lanka

GraceKennedy Ltd, among the Caribbean's largest corporate entities, has increased its stake in Sri Lanka’s Coco Lanka Plc buying 12 million shares on Monday, the local firm said this week.

The transaction was necessary for Renuka Agri Foods Plc, a Coco Lanka subsidiary, to enter into a manufacturing and purchasing agreement with the Caribean firm which is a regular buyer of Renuka products, the company informed the Colombo Stock Exchange.

Under this project, Renuka will manufacture and pack Coconut Water in aseptic retail packaging and also produce a range of beverages for the international markets.

Renuka Agri said in a statement that GraceKennedy Ltd is one of its long-standing customers. "Renuka's Coconut Water will be the flagship item of a range of exciting products in the company's tetra pack expansion. Alongside Coconut Water will also be a variety of other organic and functional drinks using Sri Lankan agricultural raw materials,” it said.

source - www.dailymirror.lk