John Keells Holdings (JKH) continued to be the girl on the beach on the Colombo Stock Exchange yesterday with slightly over 2 million shares traded – nearly all through six crossings at the Rs.215 price that the Distilleries Company paid for a larger block on Wednesday.
"Clearly the same buyer is in the market for JKH which closed Rs.1.60 down at Rs.217 with slightly over 2 million shares traded between Rs.216.50 and Rs.2.20," brokers said.
The market did not sustain Wednesday’s gains with a turnover of Rs.2.9 billion, down from the previous day’s Rs. 5.8 billion, and both indices losing ground – the All Share marginally by 6.26 points (0.09%) while the Milanka dipped 33.83 points (0.53%)
"It wasn’t such a great day," Prashan Fernando of Acuity Stockbrokers said, ``with JKH and Ceylon Theatres being the two biggest business generators. There was also a new retail run on Renuka Agro Foods.’’
Ceylon Theatres saw two crossings, one of 645,000 shares and the other of 720,000 shares both at a price of Rs.200 with the counter closing Rs.3.30 up at Rs.198 on over 1.8 million shares traded between Rs.190 and Rs.202.
Renuka Agro, with nearly 38.9 million shares done, closed Rs.1.40 up at Rs.7.50 on a trading range of Rs.6.30 to Rs.7.90.0
Blue Diamonds also demonstrated both volume and price gain with the non-voting share up 40 cents to Rs.5.30 on nearly 26.7 million shares while the voting share was up a rupee to close at Rs.11.30 on 6 million shares done between Rs.10.30 and Rs.11.30.
Mr. Dhammika Perera made his second mandatory offer for Hayleys at a price of Rs.380 following the recent increase of his stake in the conglomerate where he owns approximately 34.4%. He and related parties - Royal Ceramics (5.04%), Vallibel One (1.25%) and L.B. Finance (0.002%) - now own 40.79% of Hayleys.
East West, controlled by business leader Nahil Wijesuriya, announced in a Stock Exchange filing that it has purchased 51% of People’s Media Network (Pvt) Limited for a consideration of Rs.49.3 million.
People’s Media has a license to maintain a private radio and TV station and currently operates nine radio and two TV frequencies issued by the Telecommunication Regulatory Commission of Sri Lanka.
Hayleys and Dipped Products announced a restructuring of their plantation holdings with Hayleys selling its 33.33% stake of Hayleys Plantation Services to DPL Plantations, a fully owned subsidiary of Dipped Products, on Sept. 1.
With this acquisition, DPL Plantations has doubled its holding of Hayleys Plantations Services to 66.66%. Hayleys Plantation Services owns 74.74% of Talawakelle Tea Plantations PLC.
Dipped Products is a member of the Hayleys group.
source - www.island.lk
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