Friday, May 17, 2013

JKH nears 10% of CSE market capitalisation mark

Market capitalisation now at Rs. 238.35 b or 9.76% of total

◾Share price hit a new peak of Rs. 278, up 26% from end 2012 level

◾Foreign shareholding at a high 57%

Consistent improvement in the share price of John Keells Holdings (JKH) has propelled premier blue chip to almost 10% of Colombo’s market capitalisation.

JKH’s share price yesterday hit a new 52-week high of Rs. 278.50 before closing at Rs. 278. The latter put its market capitalisation at Rs. 238.35 billion or 9.76% of the total market capitalisation of the CSE.

 Analysts said the current level is JKH's highest market cap share. Last week JKH share rose by Rs. 15.50 on its way to establish a new 52-week high of Rs. 271.

 In comparison to end 2012, the current market capitalisation reflects a hefty increase of 27% or Rs. 51 billion. JKH share price ended calendar year 2012 at Rs. 220 whilst number of shares in issue was 851.5 million. The current number of shares in issue is 857.4 million.

 Reaffirming its status as the darling of foreign investors, the non-national shareholding as of yesterday had risen to over 57% from 53.8% by end December 2012.

 JJKH has also been a key magnet for rising net foreign inflow, which as of yesterday was Rs. 10.7 billion. In the first two weeks of May, net buying into JKH was Rs. 1 billion – a trend that has continued this week as well.

 JKH’s top slot in the Bourse is far ahead of the second ranked CTC, whose market capitalisation was Rs. 158.2 billion or 6.48%.

 The closest conglomerate was Carson but with a 3.58% share or Rs. 87.5 billion.

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