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, December 27, 2012

Bourse up 0.83%, Odel raises more than Rs. 2.5bn via rights issue

The Colombo Stock Exchange closed 0.83 percent higher with all indices closing in positive territory on Wednesday (26).

The All Share Price Index gained 46.02 points (0.83 percent) to close at 5,570.91.

The Milanka Price Index of more liquid stocks closed 21.01 points higher, up 0.42 percent to 5,060.83 while the S&P SL20 gained 0.71 percent, closing at 3,060.37, 21.59 points higher.

Turnover reached a little more than Rs. 242.4 million on 8.3 million shares changing hands during the day.

Foreign purchases amounted to Rs. 167.8 million, leading to a net inflow of Rs. 119.1 million.

CLPL.W0014 was the biggest gainer, moving up 60 cents (12 percent) to close at Rs. 5.60 followed by AUTO, which gained Rs. 81 (11.11 percent) to close at Rs. 810.

SEMB was the biggest loser, down 10 cents (20 percent) to 50 cents followed by ASCO, down Rs. 17.40 (9.41 percent) to Rs. 184.90.

In a stock exchange filing, Odel PLC said it raised a little more than Rs. 2.5 billion (Rs. 2,543,588,620) via a rights issue which were listed on the bourse. The 1:1 issue was for a consideration of Rs. 20 with 127,179,431 shares allotted and listed.

Meanwhile, Lanka Hospitals Corporation PLC said Gnanadurai Ramesh Krishnan, Vice President Integration and Growth, Fortis Healthcare International, has been appointed alternate director to Sunil Godhwani with effect from December 24.

"The market opened the day on a positive note following the Christmas holidays with the ASPI closing 0.8% higher to end the session at 5571. Market turnover meanwhile improved to LKR242 mn with trading in John Keells Holdings accounting for 62% of the total. Gainers outpaced losers with Lanka Aluminium, Ceylon Leather(W0014) and SMB Leasing rising by 12.1%, 12.0% and 11.1% offsetting losses in Property development, Hikkaduwa Beach Resort and Asia Capital which declined by 7.6%, 7.5% and 7.4% respectively," DNH Financial said.

source - www.island.lk