Singaporean partner sells 20% of Colombo Land?
The Colombo bourse could not hold the previous day’s gains yesterday with both indices edging down although turnover at Rs.3.16 billion, up from the previous day’s Rs.3.03 billion, was satisfactory in the context of recent postings, brokers said.
The All Share Price Index which marginally gained during intra-day trading was down 7.98 points (0.11%) while the Milanka lost 17.02 point (0.25%) with 94 gainers behind 104 losers at the close of trading.
Thursday’s surge was largely attributed to the SEC relaxing broker credit rules slowing forced sales.
``There was some profit taking at the close of the week,’’ Roy Anthony of Acuity Stockbrokers said. ``Given that this was a short trading week, the market should hopefully look up next week.’’
John Keells Holdings announced a final dividend of Re.1 per share for the year ended March 31, 2011 XD from May 31 payable on June 9 and also announced a share split where three existing shares will be sub-divided into four after the payment of the final dividend.
This will raise the shares in issue to 839.7 million from 629.8 million before the sub-division.
The announcement took JKH to a high of Rs.304.90 yesterday but the share closed at Rs.296.10, down Rs.2.90 from the previous close with nearly 0.7 million shares traded between Rs.296 and Rs.304.90.
Twenty percent of Colombo Land (nearly 41.5 million shares) was traded yesterday at a price of Rs.20 with the big parcels changing hands during late afternoon trading 15% below market price. There was no confirmation on who the buyers and sellers were but brokers believed that the Singapore group who invested at the inception of the Liberty Plaza project had been on the selling side while the UDA or a connected party was believed to be the buyer.
The share closed 10 cents up at Rs.23.20 with nearly 41.5 million shares traded between Rs.20 and Rs.23.60.
Guardian Capital Partners (Watapota) topped the Rs.300 mark but closed Rs.4.80 down at Rs.262.60 with nearly 0.5 million shares traded between Rs.260 and Rs.305.
Other shares that showed volume and price gains yesterday included Laugfs Gas, both voting and non-voting. The non-voting share closed Rs.5.60 up at Rs.38.20 on 3.5 million shares done between Rs.33 and Rs.38.30 while the voting share was up Rs.4.90 to close at Rs.47.90 on over 2.1 million shares done between Rs.43.50 and Rs.48.
Among yesterday’s gainers showing quantity were Browns, up Rs.1.10 to Rs.400 on nearly 0.2 million shares, Central Finance up Rs.4.60 to Rs.1,605.50 on 42,900 shares, Pan Asia Power up 30 cents to close at Rs.4.20 on nearly 16.6 million shares, Union Bank, up Rs.1.70 to Rs.30.90 on nearly 2 million shares, Free Lanka Capital Holdings up 10 cent to Rs.5.20 on nearly 8.8 million shares and Lanka Lubricants up Rs.2.70 to Rs.170 on nearly 0.3 million shares.
Both Grain Elevators, down Rs.6 to Rs.149 on over 0.5 million shares and its subsidiary, Three Acre Farms, down Rs.8.80 to Rs.143 on nearly 0.4 million shares, were on the losing side.
DFCC Bank announced that it has increased its holding of DFCC Vardhana Bank from 95.6% to Rs.98.94% following Central Bank approval received last month authorizing it to take full control of its commercial banking subsidiary.
source - www.island.lk
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