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, February 9, 2012

JP Morgan fund buys 10 m shares of Expolanka for Rs. 70 m

A foreign fund linked to JP Morgan yesterday bought 10 million shares or 0.5% stake in Expolanka Holdings for Rs. 70 million.

Around 11.3 million shares of Expolanka traded yesterday for Rs. 79 million accounting for 6% of the day’s relatively low turnover in a highly bearish market. Of the quantity traded 9.4 million shares changed hands via crossing at Rs. 7 each with the buyer being the JP Morgan fund. Expolanka touched a high of Rs. 7.10 before closing 10 cents lower at Rs. 7.

Bulk of the selling was by local entity Ruvera Capital and to a lesser extent Indra de Silva.

Buying into Expolanka contributed to net foreign inflow of Rs. 239.5 million with non-national activity dominated on JKH, Commercial Bank and Nestle among a select others.

source - www.ft.lk