Renuka Holdings PLC was one of the two Sri Lankan companies selected by Forbes Asia for this great honour at an award ceremony at the Shangri-La Hotel in Singapore last Thursday, 29 November. Forbes Asia’s "Best under a Billion" are Asia Pacific’s top midsized companies.
According to Forbes, the criteria of selection included profitability, growth, modest indebtedness and future prospects. Forbes editors picked 200 companies out of a universe of over 15,000 Asia Pacific companies with actively traded shares and sales between US$5 million and US$1 billion.
As per Renuka Holdings PLC’s Annual Report for 2011/2012 released to the Colombo Stock Exchange, it is a diversified holding company with subsidiaries engaged in three core sectors.
The Food and Beverage Sector is headed by Renuka Shaw Wallace PLC (formerly known as Coco Lanka PLC). Renuka Shaw Wallace’s businesses consist of fast moving consumer goods (FMCG), food service, dairy and agri-exports.
These operate under Renuka Consumer Foods Ltd, Shaw Wallace Ceylon Ltd, Shaw Wallace Food Services Ltd, Renuka Products (Pvt) Ltd, Renuka Agri Foods PLC, Renuka Organics (Pvt) Ltd, Renuka Teas Ceylon (Pvt) Ltd and Kandy Plantations Ltd. Renuka Shaw Wallace operates five factories, nine processing centres, two plantations, an out-grower network exceeding 5000 farmer families and a state-of-the-art warehouse and logistics centre.
The organisation exports to 61 countries, and locally distributes to 65,000 grocery outlets island-wide as well as to hotel, restaurants, catering establishments among others. The company directly employs 1240 people.
The Automotive sector is headed by McShaw Automotive Ltd, a joint venture between Renuka Holdings PLC and McLarens Holdings Ltd. This sector employees 95 individuals and represents 2 Fortune 500 companies. The company is the market leader in the brake oil category with Delphi Lockheed brand leading the way. It is also a significant player in the tubes, 2 wheeler and 3 wheeler tyre segments with its brands Grip, Dunlop and Pioneer, among a range of other automotive products.
The Investment and Services division is engaged in portfolio management, real estate, logistics and the provision of management services. The organisation has a valuable real estate bank in Colombo and intends to develop it with international partners.
The year under review was a milestone year for the Group as Gross Profit surpassed Rs. 01 billion, for the first time. The Group performed remarkably with revenue of Rs. 5.4 billion, which is a 100% growth over the Rs. 2.7 billion recorded the previous year. Profit-after-taxation was Rs. 510.6 million, while total equity of the group grew from Rs. 4.8 billion to Rs. 6.7 billion at the end of the financial year.
As per the recent Colombo Stock Exchange release, the Group recently concluded a re-alignment of its companies and rebranding of its food and beverage holding company from Coco Lanka PLC, to Renuka Shaw Wallace PLC. As part of this aggressive expansion, Renuka Shaw Wallace is raising Rs. 1008 million by way of a Rights Issue which closes on Friday 07 December 2012.
Elaborating on the Forbes Award and the future direction, Director/ Chief Operating Officer Renuka Holdings PLC, Shamindra Rajiyah said, "We are most honoured by this international recognition this year as well. This recognition of Renuka Holdings PLC is a reflection on the hard work, commitment and dedication of all our stakeholders and our constant aim for perfection. Our recent re-alignment of companies and aggressive expansion in the food and beverage space will seize the opportunities the country offers and will see us entering the next phase of corporate growth."
The Board of Directors of Renuka Holdings PLC consists of Mrs. I. R. Rajiyah (Chairperson), Dr S. R. Rajiyah (Group Managing Director), Mr. C. J. De. S. Amaratunge, Mr. L. M. Abeywickrama, Mr. S. V. Rajiyah, Mr. J. M. Swaminathan, Mr. T. K. Bandaranayake, Mr. M. S. Dominic and Ms. A. L. Rajiyah
source - www.island.lk
Tuesday, December 4, 2012
Monday, December 3, 2012
Sri Lanka stocks close 0.2-pct lower, rupee stronger
Dec 03, 2012 (LBO) - Sri Lanka stocks closed 0.2 percent lower Monday amid thin trading, with some large cap stocks losing ground, while the rupee gained against the dollar, brokers and dealers said.
The rupee opened at around 129.80/130.00 against the US dollar in the spot market and closed around 129.30/40 levels, after trading as strong as 129.00/20 levels, dealers said.
The benchmark Colombo All Share Price Index slipped 13 points to close at 5,337.7 points and the S&P SL20 Index closed at 2,931.40 falling 10.62 points or 0.36 percent.
Turnover was 173 million rupees.
Trading in John Keells Holdings brought the biggest turnover for the day at 24.7 million, Pan Asia Bank 20.8 million, 12 million DFCC and 9.3 million and Metropolitan Resource Holdings.
John Keells closed at 297.10 down 1.40 rupees, Cargills closed at 140.00 down 4.00 rupees.
Commercial Leasing and Finance rose 30 cents to close at 3.60 rupees, People's Leasing closed at 12.00 up 50 cents, LOLC closed at 50 rupees up 90 cents and Aitken Spence closed at 118.20 up 60 cents.
Brokers say some stocks are getting fundamentally strong amid falling prices and some earnings growth, but price earnings multiples are weak due to macro issues giving opportunities for long term buyers, unlike buyers exposed to credit.
Foreign investors who sold out at high multiples during a stock and credit market bubble are now coming back.
source - www.lbo.lk
Corporate earnings dip YoY, up QoQ
Combined earnings of listed companies have marginally declined Year-on-Year (YoY) but improved Quarter on Quarter (QoQ) in September according to two broking firms.
For the 30 September 2012 quarter, 266 companies have released their results by last week, signalling a strong recovery in the market earnings, Softlogic Stockbrokers said.It said market earnings for September 2012 was almost flat or marginally down 2% to Rs. 46.1 billion while on a QoQ basis earnings have grown by 34% to Rs. 34.5 billion.
The September data reflects an improvement in comparison to June performance. The June saw earnings dropping as much as 12% YoY and 37% QoQ on the basis of results of 236 companies.
“With radical policy measures taken at the start of the year resulted in a slowdown in the economy which we believe to have bottomed out by the June quarter. Following the stability in the exchange rate and interest rate the business outlook and economic conditions improved. As a result the earnings outlook of companies have started to show signs of improvement during the September Quarter with earnings ending to be almost flat on a YoY basis,” Softlogic Stockbrokers said.
“We continue to stand by our forecast that the listed entities are likely to witness a complete recovery of their earnings by the 4QCY12 and 1QCY13 with the Banking, Hotel, and Diversified Sectors leading the growth in earnings,” it added.
Softlogic expects economic conditions and earnings of most companies to stabilise by August and the US Dollar exchange rate remaining stable at Rs. 130 levels. “We expect a better second half for most companies with the recovery of economic conditions and business activity affecting companies towards the 4QCY12 and 1QCY13. We further expect the December 2013E / March 2014E to be a year of strong growth in corporate earnings,” Softlogic said.
Asia Wealth Management on the other hand noted negative third quarter growth was painting the market red.
“The lack of vitality in the performance of Colombo Bourse during the post-Budget phase of trading has persisted along with robust growth in 3QCY2012 net earnings of selected sectors and counters, while the overall net earnings of the market dropped 4% YoY,” Asia said.
“This can be largely attributed to the restrictive market and non market measures adopted by the fiscal and monetary authorities in the form of raising policy interest rates, imposing quantitative limits on credit growth of the banking sector, high import tariffs on selected imports and the depreciation of the currency to stabilise the growth process of the economy,” it added.
Despite overall dip, Asia said a few sectors have so far shown impressive resilience to the challenging economic environment by posting impressive YoY earnings growth in 3QCY2012.
For instance, the Banking Sector net earnings grew 27%, Hotels and Leisure Sector by a whopping 143%, Insurance sector by 103% and Plantations managed to improve from a loss to a significant profit.
“In this light, we are of the view that marginal capital efficiency of few selected sectors is remaining well above that of the market rate of interest and hence, return on equity investments of these particular sectors bear the potential to exceed the rate of return on non-equity financial investments such as time deposits and government securities,” Asia Wealth said.
“Furthermore, four quarter trailing price earnings ratio of the market also improved to 12.6X indicating that prospects of return on equity investments in the Colombo Bourse are attractive relative to the regional peers,” it added.
The broking firm also said the adoption of restrictive non market measures by the fiscal and monetary authorities mentioned earlier are triggered on the grounds that independent interaction of free market forces has not entirely kept the process of economic growth of the Sri Lankan economy within a stable framework.
“In our view this particular aspect should be subjected to further probing by analysts as well as policy makers to uncover the factors that trigger such a condition, and in turn, should formulate more progressive long-term policy frameworks capable of sustaining the stability of the growth process without curtailing its growth momentum,” Asia Wealth opined.
source - www.ft.lk
For the 30 September 2012 quarter, 266 companies have released their results by last week, signalling a strong recovery in the market earnings, Softlogic Stockbrokers said.It said market earnings for September 2012 was almost flat or marginally down 2% to Rs. 46.1 billion while on a QoQ basis earnings have grown by 34% to Rs. 34.5 billion.
The September data reflects an improvement in comparison to June performance. The June saw earnings dropping as much as 12% YoY and 37% QoQ on the basis of results of 236 companies.
“With radical policy measures taken at the start of the year resulted in a slowdown in the economy which we believe to have bottomed out by the June quarter. Following the stability in the exchange rate and interest rate the business outlook and economic conditions improved. As a result the earnings outlook of companies have started to show signs of improvement during the September Quarter with earnings ending to be almost flat on a YoY basis,” Softlogic Stockbrokers said.
“We continue to stand by our forecast that the listed entities are likely to witness a complete recovery of their earnings by the 4QCY12 and 1QCY13 with the Banking, Hotel, and Diversified Sectors leading the growth in earnings,” it added.
Softlogic expects economic conditions and earnings of most companies to stabilise by August and the US Dollar exchange rate remaining stable at Rs. 130 levels. “We expect a better second half for most companies with the recovery of economic conditions and business activity affecting companies towards the 4QCY12 and 1QCY13. We further expect the December 2013E / March 2014E to be a year of strong growth in corporate earnings,” Softlogic said.
Asia Wealth Management on the other hand noted negative third quarter growth was painting the market red.
“The lack of vitality in the performance of Colombo Bourse during the post-Budget phase of trading has persisted along with robust growth in 3QCY2012 net earnings of selected sectors and counters, while the overall net earnings of the market dropped 4% YoY,” Asia said.
“This can be largely attributed to the restrictive market and non market measures adopted by the fiscal and monetary authorities in the form of raising policy interest rates, imposing quantitative limits on credit growth of the banking sector, high import tariffs on selected imports and the depreciation of the currency to stabilise the growth process of the economy,” it added.
Despite overall dip, Asia said a few sectors have so far shown impressive resilience to the challenging economic environment by posting impressive YoY earnings growth in 3QCY2012.
For instance, the Banking Sector net earnings grew 27%, Hotels and Leisure Sector by a whopping 143%, Insurance sector by 103% and Plantations managed to improve from a loss to a significant profit.
“In this light, we are of the view that marginal capital efficiency of few selected sectors is remaining well above that of the market rate of interest and hence, return on equity investments of these particular sectors bear the potential to exceed the rate of return on non-equity financial investments such as time deposits and government securities,” Asia Wealth said.
“Furthermore, four quarter trailing price earnings ratio of the market also improved to 12.6X indicating that prospects of return on equity investments in the Colombo Bourse are attractive relative to the regional peers,” it added.
The broking firm also said the adoption of restrictive non market measures by the fiscal and monetary authorities mentioned earlier are triggered on the grounds that independent interaction of free market forces has not entirely kept the process of economic growth of the Sri Lankan economy within a stable framework.
“In our view this particular aspect should be subjected to further probing by analysts as well as policy makers to uncover the factors that trigger such a condition, and in turn, should formulate more progressive long-term policy frameworks capable of sustaining the stability of the growth process without curtailing its growth momentum,” Asia Wealth opined.
source - www.ft.lk
Bourse continues to slide
Stock Market Review for the week ending 30th November 2012
The market opened trading for the week, positively in the early hours however closed with both the ASPI and Milanka indicess losing 22 and 19 points to close at 5,384 and 4,935 respectively. With the market’s turnover being at a level of Rs 115 million during the day, thereby reaching a 19 week low, all round investor sentiment was considered to be at a low ebb. The top contributors to turnover for the day was JKH recording Rs 26.6 million, followed by Peoples Finance achieving Rs 6 million and Colombo Dockyard at Rs 5.6 million. The share price of JKH and Peoples Finance gained by cents -/40 and Rs 3.50 to close at Rs 211.90 and Rs 34.70 respectively. Meanwhile Colombo Dockyard lost Rs 4.00 to close at Rs 215.00. A net foreign inflow of Rs 27 million was seen during the day.
The market reopened on Wednesday with both the indices continuing to drop; the ASPI lost 50 points to close at 5,337, while Milanka too declined by 77 points to close at 4,852. However an improved turnover of Rs 739 million was recorded on the back of foreign buying interest in selective blue chip counters. JKH topped the turnover list contributing Rs 393 million followed by Aitken Spence at Rs. 210 million, Peoples Finance at Rs 23 million and Commercial Bank at Rs 20 million. The shares of both JKH and Aitken Spence edged below by Rs 2.80 and cents -/20 to close at Rs 209.00 and Rs 119.00 respectively. Meanwhile Peoples Finance gained Rs 0.70 to close at Rs 34.70 while Commercial Bank lost Rs 1.50 to close at Rs 100.00. A net foreign inflow of Rs 395 million was recorded for the day.
The market rebounded on Thursday with the indices closing higher giving investors a much deserved sigh of relief. The ASPI gained 29 points to close at 5,363 while the Milanka gained 32 points to close at 4,890. Turnover levels improved from yesterday recording Rs 877 million on the back of continued foreign buying interest confined to blue chip counters such as JKH amounting to a total contribution of Rs 350 million. Activity among stocks that included Cargills and Nestle contributed as much as Rs 81 and 61 million towards turnover, and was followed by Seylan Bank (non-voting) registering a turnover of Rs 60 million. The share price of JKH gained by Rs 1.70 to close at Rs 211.70. Both Cargills and Nestle increased in price by Rs 4.20 and Rs 8.90 to close at Rs 149.20 and Rs 1284.90 respectively, while Seylan Bank (non-voting) too gained Rs 1.70 to close at Rs 34.80. A large net foreign inflow amounting to Rs 461.7 was witnessed for the day.
On Friday, the market closed in the red with both indices closing in the negative; ASPI lost 12 points while Milanka lost 21 points and the two indices closed at 5,351 and 4,868 respectively. A turnover of Rs 344 million was recorded. JKH led the top contributor list with a turnover of Rs 74 million, followed by Distilleries and Nestle contributing Rs 28 million each, and Aitken Spence Hotels achieved a turnover of Rs 17 million. The shares of JKH lost Rs 6.20 to close at Rs 205.50 while Distilleries closed flat at Rs 150.00. Meanwhile Nestle and Aitken Spence Hotels each gained in price Rs 25.00 and cents -/90 respectively to close at Rs 1,309.90 and Rs 71.00 respectively.
(Courtesy: Innovest Investments Pvt. Ltd – an Investment Management Company licensed by the Securities & Exchange Commission of Sri Lanka)
source - www.island.lk
The market opened trading for the week, positively in the early hours however closed with both the ASPI and Milanka indicess losing 22 and 19 points to close at 5,384 and 4,935 respectively. With the market’s turnover being at a level of Rs 115 million during the day, thereby reaching a 19 week low, all round investor sentiment was considered to be at a low ebb. The top contributors to turnover for the day was JKH recording Rs 26.6 million, followed by Peoples Finance achieving Rs 6 million and Colombo Dockyard at Rs 5.6 million. The share price of JKH and Peoples Finance gained by cents -/40 and Rs 3.50 to close at Rs 211.90 and Rs 34.70 respectively. Meanwhile Colombo Dockyard lost Rs 4.00 to close at Rs 215.00. A net foreign inflow of Rs 27 million was seen during the day.
The market reopened on Wednesday with both the indices continuing to drop; the ASPI lost 50 points to close at 5,337, while Milanka too declined by 77 points to close at 4,852. However an improved turnover of Rs 739 million was recorded on the back of foreign buying interest in selective blue chip counters. JKH topped the turnover list contributing Rs 393 million followed by Aitken Spence at Rs. 210 million, Peoples Finance at Rs 23 million and Commercial Bank at Rs 20 million. The shares of both JKH and Aitken Spence edged below by Rs 2.80 and cents -/20 to close at Rs 209.00 and Rs 119.00 respectively. Meanwhile Peoples Finance gained Rs 0.70 to close at Rs 34.70 while Commercial Bank lost Rs 1.50 to close at Rs 100.00. A net foreign inflow of Rs 395 million was recorded for the day.
The market rebounded on Thursday with the indices closing higher giving investors a much deserved sigh of relief. The ASPI gained 29 points to close at 5,363 while the Milanka gained 32 points to close at 4,890. Turnover levels improved from yesterday recording Rs 877 million on the back of continued foreign buying interest confined to blue chip counters such as JKH amounting to a total contribution of Rs 350 million. Activity among stocks that included Cargills and Nestle contributed as much as Rs 81 and 61 million towards turnover, and was followed by Seylan Bank (non-voting) registering a turnover of Rs 60 million. The share price of JKH gained by Rs 1.70 to close at Rs 211.70. Both Cargills and Nestle increased in price by Rs 4.20 and Rs 8.90 to close at Rs 149.20 and Rs 1284.90 respectively, while Seylan Bank (non-voting) too gained Rs 1.70 to close at Rs 34.80. A large net foreign inflow amounting to Rs 461.7 was witnessed for the day.
On Friday, the market closed in the red with both indices closing in the negative; ASPI lost 12 points while Milanka lost 21 points and the two indices closed at 5,351 and 4,868 respectively. A turnover of Rs 344 million was recorded. JKH led the top contributor list with a turnover of Rs 74 million, followed by Distilleries and Nestle contributing Rs 28 million each, and Aitken Spence Hotels achieved a turnover of Rs 17 million. The shares of JKH lost Rs 6.20 to close at Rs 205.50 while Distilleries closed flat at Rs 150.00. Meanwhile Nestle and Aitken Spence Hotels each gained in price Rs 25.00 and cents -/90 respectively to close at Rs 1,309.90 and Rs 71.00 respectively.
(Courtesy: Innovest Investments Pvt. Ltd – an Investment Management Company licensed by the Securities & Exchange Commission of Sri Lanka)
source - www.island.lk
Sunday, December 2, 2012
Weekly Market Focus
Market opened for the week on Monday on a negative note. ASI slipped 22.22 points (0.4%) MPI lost 19.70 points (0.4%) and S&P SL20 index shed 7.30 points (0.25%).. Turnover was Rs 116.0mn.
John Keells Holdings (Rs. 26.7mn), Peoples Finance (Rs. 6.0mn) and Colombo Dockyard (Rs. 5.6mn) emerged as the top contributors to the turnover while relatively high activity was seen in Peoples Finance, Blue Diamond-non voting and Central Investments and Finance counters. Foreign participation was 15% of total market turnover whilst net foreign buying was Rs. 39Mn.
Stocks slumped on Colombo Bourse on Wednesday, again on low volumes with only 16mn shares traded. Market turnover picked up to LKR 739.5mn from last Monday mainly due to the crossings recorded in index heavy John Keells Holdings and Aitken Spence Holdings which accounted for 73% of the market turnover. Benchmark All Shares Index slipped by 50.21 points (-0.93%) while sensitive MPI lost 77.36 index points (-1.57%) and S&P SL 20 Index lost 25.24 points (-0.85%). John Keells Holdings (Rs. 393.3mn) and Aitken Spence Holdings (Rs. 157.4mn) were the top contributors to the turnover followed by Peoples Finance (Rs. 23.9mn), which continued to attract high investor interest.
Further, Commercial Bank, Swarnamahal Financial Services and Browns Investments were among the actively traded stocks. Foreign participation was 51% and foreign investors were net buyers with a net inflow of Rs. 395.6mn.
Colombo Stocks recovered on Thursday after two consecutive days of losses as all the market indices closed with positive returns. Retail investor participation also improved compared to the previous day. Off-the-floor deals from John Keells Holdings and Cargills Ceylon accounted for 38% of the market turnover. All Shares Index advanced by 28.92 points (+0.54%) while MPI gained 32.39 index points (+0.67%) and S&P SL 20 Index advanced by 17.39 points (+0.59%). Market turnover improved to Rs.877.5mn. Foreign participation was 32% of the total turnover and foreign investors were net buyers with a net inflow of Rs. 462mn.
On Friday market closed with negative performance. ASI lost 12.35 points (-0.23%), MPI lost 21.71 points (-0.44%) and S&P SL20 index lost 10.14 points (-0.34%). Turnover was Rs. 344.8mn. Top contributors to the turnover were John Keells Holdings (Rs.51.9mn), Nestle Lanka (Rs.28.0mn) and Distilleries (Rs.25.6mn). further Odel-Rights, John Keells Holdings and Touchwood Investments traded heavily during the day. Odel-Rights commenced trading today and closed as the top gainer.
Odel-Rights reached the high of Rs.1.10 and closed at Rs.0.50, up Rs.0.40 (+400%). Foreign participation was 27% of the total turnover and foreign investors were net buyers with a net inflow of Rs.29.3mn.
During the week ASI lost by 55.86 points (-1.03%WoW) to end at 5,351.25 while liquid MPI dipped by 86.38 points (-1.74%%WoW) to close at 4,868.83. S&P SL 20 Index closed at 2,942.02, a drop of 25.29 index points (-0.85%WoW). Average daily market turnover was Rs.519.4mn (-62.9%WoW). Foreign participation for the week was 27.0%. At the end of the week foreign investors were the net buyers with a net foreign inflow of Rs.915.5mn.
source - www.nation.lk
John Keells Holdings (Rs. 26.7mn), Peoples Finance (Rs. 6.0mn) and Colombo Dockyard (Rs. 5.6mn) emerged as the top contributors to the turnover while relatively high activity was seen in Peoples Finance, Blue Diamond-non voting and Central Investments and Finance counters. Foreign participation was 15% of total market turnover whilst net foreign buying was Rs. 39Mn.
Stocks slumped on Colombo Bourse on Wednesday, again on low volumes with only 16mn shares traded. Market turnover picked up to LKR 739.5mn from last Monday mainly due to the crossings recorded in index heavy John Keells Holdings and Aitken Spence Holdings which accounted for 73% of the market turnover. Benchmark All Shares Index slipped by 50.21 points (-0.93%) while sensitive MPI lost 77.36 index points (-1.57%) and S&P SL 20 Index lost 25.24 points (-0.85%). John Keells Holdings (Rs. 393.3mn) and Aitken Spence Holdings (Rs. 157.4mn) were the top contributors to the turnover followed by Peoples Finance (Rs. 23.9mn), which continued to attract high investor interest.
Further, Commercial Bank, Swarnamahal Financial Services and Browns Investments were among the actively traded stocks. Foreign participation was 51% and foreign investors were net buyers with a net inflow of Rs. 395.6mn.
Colombo Stocks recovered on Thursday after two consecutive days of losses as all the market indices closed with positive returns. Retail investor participation also improved compared to the previous day. Off-the-floor deals from John Keells Holdings and Cargills Ceylon accounted for 38% of the market turnover. All Shares Index advanced by 28.92 points (+0.54%) while MPI gained 32.39 index points (+0.67%) and S&P SL 20 Index advanced by 17.39 points (+0.59%). Market turnover improved to Rs.877.5mn. Foreign participation was 32% of the total turnover and foreign investors were net buyers with a net inflow of Rs. 462mn.
On Friday market closed with negative performance. ASI lost 12.35 points (-0.23%), MPI lost 21.71 points (-0.44%) and S&P SL20 index lost 10.14 points (-0.34%). Turnover was Rs. 344.8mn. Top contributors to the turnover were John Keells Holdings (Rs.51.9mn), Nestle Lanka (Rs.28.0mn) and Distilleries (Rs.25.6mn). further Odel-Rights, John Keells Holdings and Touchwood Investments traded heavily during the day. Odel-Rights commenced trading today and closed as the top gainer.
Odel-Rights reached the high of Rs.1.10 and closed at Rs.0.50, up Rs.0.40 (+400%). Foreign participation was 27% of the total turnover and foreign investors were net buyers with a net inflow of Rs.29.3mn.
During the week ASI lost by 55.86 points (-1.03%WoW) to end at 5,351.25 while liquid MPI dipped by 86.38 points (-1.74%%WoW) to close at 4,868.83. S&P SL 20 Index closed at 2,942.02, a drop of 25.29 index points (-0.85%WoW). Average daily market turnover was Rs.519.4mn (-62.9%WoW). Foreign participation for the week was 27.0%. At the end of the week foreign investors were the net buyers with a net foreign inflow of Rs.915.5mn.
source - www.nation.lk
Foreign interest continues at the CSE
The week ending 30th November saw a net foreign inflow of Rs 915 million, taking the year to date total to above Rs 36 bn in what has been an otherwise lacklustre market. Entering when locals are reluctant and exiting foreign investment continued to pour into blue chip counters such as John Keells Holdings, Aitken Spence, Distilleries Company, Chevron Lubricants, Ceylon Tobacco and Nestle Lanka.
The week’s total inflow was Rs 1,225 against sales of Rs 310 million. Total turnover for the four day week was Rs 2,078 million, a daily average of Rs 519 million, which was lower than the previous week’s average of Rs 1.4 billion. The broader All Share Index lost 55.86 points, or 1.03%, to close at 5,351.25, while the more sensitive S&P SL 20 Index lost 25.29 points or 0.9% to close at 2,942.02.
Galadari Hotels announced that it will go ahead and convert debt amounting to Rs. 7, 164 million to equity via a private placement at the rate of Rs. 22.50 a share. The company will issue 318.4 million shares to Galadari Brothers Company, who are the promoters of the Sri Lankan venture. The National Insurance Trust Fund, which also has lent money to GHLL have not taken up the shares in lieu of the debt. The company has carried forward losses of Rs 9.3 billion which has been partially offset by a revaluation of the property by Rs 7.9 billion. Seylan Bank announced the issue of 100 million debentures at Rs 100.00 per script to Rs 1 billion to fund its loan portfolio. The rates are to be determined at a later date, but will be based on 3 types of debentures that will pay interests separately.
Sunshine Holdings disclosed that it was in discussion to form a JV with Wilmar International of Singapore to market the products of Watawala Plantations and Watawala Marketing.
Sri Lanka’s annual average inflation to November was at 9.5%, up from the 8.9% in October, with food prices gaining by 2.4% in the period.
source - www.lakbimanews.lk
The week’s total inflow was Rs 1,225 against sales of Rs 310 million. Total turnover for the four day week was Rs 2,078 million, a daily average of Rs 519 million, which was lower than the previous week’s average of Rs 1.4 billion. The broader All Share Index lost 55.86 points, or 1.03%, to close at 5,351.25, while the more sensitive S&P SL 20 Index lost 25.29 points or 0.9% to close at 2,942.02.
Galadari Hotels announced that it will go ahead and convert debt amounting to Rs. 7, 164 million to equity via a private placement at the rate of Rs. 22.50 a share. The company will issue 318.4 million shares to Galadari Brothers Company, who are the promoters of the Sri Lankan venture. The National Insurance Trust Fund, which also has lent money to GHLL have not taken up the shares in lieu of the debt. The company has carried forward losses of Rs 9.3 billion which has been partially offset by a revaluation of the property by Rs 7.9 billion. Seylan Bank announced the issue of 100 million debentures at Rs 100.00 per script to Rs 1 billion to fund its loan portfolio. The rates are to be determined at a later date, but will be based on 3 types of debentures that will pay interests separately.
Sunshine Holdings disclosed that it was in discussion to form a JV with Wilmar International of Singapore to market the products of Watawala Plantations and Watawala Marketing.
Sri Lanka’s annual average inflation to November was at 9.5%, up from the 8.9% in October, with food prices gaining by 2.4% in the period.
source - www.lakbimanews.lk
Foreign inflows into CSE at all-time high
Net foreign inflows to the Colombo bourse has hit an all-time high of Rs.34.55 billion amidst solid buying interest in blue chip counters, Acuity Stockbrokers said in a market report yesterday. This was the highest inflow posted since January 1992.
However, the share market continued its downward momentum as November inflation rose to 9.5% year-on-year against 8.9% y-o-y in October and 9.1% y-o-y in September making three consecutive months of decline.
The Acuity report said that the markets were weighed down by depressed retail sentiment with the main All Share Price Index hovering just above the 5,350-point mark.
"ASPI gains on Thursday (plus 28.9 points) failed to offset the rest of the week’s cumulative decline of 84.8 points while average daily volume for the week touched Rs.0.5 billion, 44% below the year-to-date daily average of Rs.0.9 billion," the report said.
"Foreign inflows to the bourse however remained buoyant, hitting an all-time year-to-date high of Rs.34.55 billion amid solid buying interest in blue chip counters."
Acuity expected subdued retail sentiment to predominate this week as well.
The ASPI lost 1.03% (55.86 points) last week while the Milanka dropped 86.38 points (1.74%) and S&P SL20 was down 0.85% (25.29 points) over the week.
JKH, contributing 40.65% of the week’s total market turnover value, was the biggest contributor with Rs.844.54 million followed by Aitken Spence with Rs.158.13 million (7.61%) and Nestle with Rs.8.93 million (4.33%).
The week’s market turnover was down 70.29% to Rs.2.08 billion from the previous week’s Rs.6.99 billion.
John Keells Stock Brokers noted in its weekly market review that the indices had declined over the week on the back of sustained selling pressure across the board on lower volumes with over 70% of the weekly turnover being driven by trades on diversified, food, beverage and tobacco counters inclusive of crossings.
"Foreign participation continued to remain buoyant resulting in a net inflow of Rs.915 million," the report said.
source - www.island.lk
However, the share market continued its downward momentum as November inflation rose to 9.5% year-on-year against 8.9% y-o-y in October and 9.1% y-o-y in September making three consecutive months of decline.
The Acuity report said that the markets were weighed down by depressed retail sentiment with the main All Share Price Index hovering just above the 5,350-point mark.
"ASPI gains on Thursday (plus 28.9 points) failed to offset the rest of the week’s cumulative decline of 84.8 points while average daily volume for the week touched Rs.0.5 billion, 44% below the year-to-date daily average of Rs.0.9 billion," the report said.
"Foreign inflows to the bourse however remained buoyant, hitting an all-time year-to-date high of Rs.34.55 billion amid solid buying interest in blue chip counters."
Acuity expected subdued retail sentiment to predominate this week as well.
The ASPI lost 1.03% (55.86 points) last week while the Milanka dropped 86.38 points (1.74%) and S&P SL20 was down 0.85% (25.29 points) over the week.
JKH, contributing 40.65% of the week’s total market turnover value, was the biggest contributor with Rs.844.54 million followed by Aitken Spence with Rs.158.13 million (7.61%) and Nestle with Rs.8.93 million (4.33%).
The week’s market turnover was down 70.29% to Rs.2.08 billion from the previous week’s Rs.6.99 billion.
John Keells Stock Brokers noted in its weekly market review that the indices had declined over the week on the back of sustained selling pressure across the board on lower volumes with over 70% of the weekly turnover being driven by trades on diversified, food, beverage and tobacco counters inclusive of crossings.
"Foreign participation continued to remain buoyant resulting in a net inflow of Rs.915 million," the report said.
source - www.island.lk
Saturday, December 1, 2012
Negative close for Bourse
The Colombo bourse ended the week on a negative note with the broad index, the All Share Price Index (ASPI) losing ground marginally over Thursday’s close.
SC Securities said the ASPI lost 0.23% (12.35 points) to end the day at 5,351.25 points, whilst the Milanka Price Index (MPI) shed 0.44% (21.71 points) to end at 4,868.83 points.
The S&P SL 20 Index (S&P) ended the week at 2,942.02 points, declining by 0.34% (10.14 points) for the day.
Market turnover narrowed down to Rs. 344.75 million chiefly due to the lack of any high value trades. The top five turnover generators for the day were John Keells Holdings PLC (JKH), Tokyo Cement Company (Lanka) PLC (TKYO), Distilleries Company of Sri Lanka (DIST), Nestle Lanka PLC (NEST), and Aitken Spence Hotel Holdings PLC (AHUN). The top five contributors accounted for 52% of the total market turnover.
JKH ended as the top turnover generator for fourth day running, witnessing a turnover of Rs. 74.49 million. A volume of 354 k shares traded during the day. The counter ended the day at LKR 208.50, shedding 1.51% (LKR 3.20) over yesterdays’ close.
TKYO witnessed a solitary crossing of 1.11 million shares at a price of Rs. 27.90. The counter generated a total turnover of Rs. 32.31 million. The share ended the day at 27.10, rising by 0.37% (10 cents) over the previous close.
Among the other top turnover generators were NEST and AHUN. Both the counters witnessed price appreciations during the day. NEST gained 1.94% (Rs. 24.90) while AHUN rose by 1.28% (Rs. 0.90). NEST & AHUN closed trading at Rs. 1,309.80 and Rs..71.00 respectively.
Foreigners ended the day as net buyers with foreign purchases worth of Rs. 106.51 million against foreign sales worth of Rs. 77.22 million resulting in a net inflow of Rs. 29.28 million.
source - www.ft.lk
SC Securities said the ASPI lost 0.23% (12.35 points) to end the day at 5,351.25 points, whilst the Milanka Price Index (MPI) shed 0.44% (21.71 points) to end at 4,868.83 points.
The S&P SL 20 Index (S&P) ended the week at 2,942.02 points, declining by 0.34% (10.14 points) for the day.
Market turnover narrowed down to Rs. 344.75 million chiefly due to the lack of any high value trades. The top five turnover generators for the day were John Keells Holdings PLC (JKH), Tokyo Cement Company (Lanka) PLC (TKYO), Distilleries Company of Sri Lanka (DIST), Nestle Lanka PLC (NEST), and Aitken Spence Hotel Holdings PLC (AHUN). The top five contributors accounted for 52% of the total market turnover.
JKH ended as the top turnover generator for fourth day running, witnessing a turnover of Rs. 74.49 million. A volume of 354 k shares traded during the day. The counter ended the day at LKR 208.50, shedding 1.51% (LKR 3.20) over yesterdays’ close.
TKYO witnessed a solitary crossing of 1.11 million shares at a price of Rs. 27.90. The counter generated a total turnover of Rs. 32.31 million. The share ended the day at 27.10, rising by 0.37% (10 cents) over the previous close.
Among the other top turnover generators were NEST and AHUN. Both the counters witnessed price appreciations during the day. NEST gained 1.94% (Rs. 24.90) while AHUN rose by 1.28% (Rs. 0.90). NEST & AHUN closed trading at Rs. 1,309.80 and Rs..71.00 respectively.
Foreigners ended the day as net buyers with foreign purchases worth of Rs. 106.51 million against foreign sales worth of Rs. 77.22 million resulting in a net inflow of Rs. 29.28 million.
source - www.ft.lk
Bourse closes week on downward mode
Turnover low, indices dip
The Colombo bourse closed the week back in a downward mode with turnover a disappointing Rs.344.8 million, down from the previous day’s Rs.877.5 million, with all indices down – the All Share by 12.35 points (0.23%), the Milanka by 21.71 points (0.44%) and S&P SL20 by 16.86 points (0.57%) with 107 losers well ahead of 79 gainers while 56 counters closed flat.
Brokers said it was "another down day" with JKH in which foreign interest continues generating the top turnover of Rs.72.6 million. Other major turnover generators were Nestle (Rs.28 million), Distilleries (Rs.27.8 million) and Aitken Spence Hotels (Rs.16.8 million).
Brokers said that JKH gained on the previous close most of the day but was down Rs.6.20 at close on very thin trades at Rs.205.50.
Distilleries closed flat at Rs.150 on nearly 0.2 million shares trading between Rs.150 and Rs.150.20 contributing Rs.28.2 million to turnover while Nestle was up sharply by Rs.25 to close at Rs.1,309.90 on 25,550 shares, generating a turnover of Rs.28 million.
``There were two parcels of 10,000 shares each indicating trading by high net worth investors,’’ a broker said. ``The counter has been going up sharply in recent days.’’
Aitken Spence Hotels was up 90 cents to close at Rs.71 contributing Rs.17.2 million to turnover, PC House closed flat at Rs.5.20 on over 2.4 million shares on a turnover of Rs.12.7 million while Commercial Bank (voting) also closed flat at Rs.100 on slightly over 0.1 million shares with a turnover of Rs.11.3 million.
Alliance Finance announced an interim dividend of Rs.25 per share for 2012/13 XD from Dec. 10 and with payment on Dec. 18 while Ceylon Tea Services announced an interim dividend of Rs.20 per share for 2012/13 XD from Dec. 10 and with payment on Dec. 14.
source - www.island.lk
The Colombo bourse closed the week back in a downward mode with turnover a disappointing Rs.344.8 million, down from the previous day’s Rs.877.5 million, with all indices down – the All Share by 12.35 points (0.23%), the Milanka by 21.71 points (0.44%) and S&P SL20 by 16.86 points (0.57%) with 107 losers well ahead of 79 gainers while 56 counters closed flat.
Brokers said it was "another down day" with JKH in which foreign interest continues generating the top turnover of Rs.72.6 million. Other major turnover generators were Nestle (Rs.28 million), Distilleries (Rs.27.8 million) and Aitken Spence Hotels (Rs.16.8 million).
Brokers said that JKH gained on the previous close most of the day but was down Rs.6.20 at close on very thin trades at Rs.205.50.
Distilleries closed flat at Rs.150 on nearly 0.2 million shares trading between Rs.150 and Rs.150.20 contributing Rs.28.2 million to turnover while Nestle was up sharply by Rs.25 to close at Rs.1,309.90 on 25,550 shares, generating a turnover of Rs.28 million.
``There were two parcels of 10,000 shares each indicating trading by high net worth investors,’’ a broker said. ``The counter has been going up sharply in recent days.’’
Aitken Spence Hotels was up 90 cents to close at Rs.71 contributing Rs.17.2 million to turnover, PC House closed flat at Rs.5.20 on over 2.4 million shares on a turnover of Rs.12.7 million while Commercial Bank (voting) also closed flat at Rs.100 on slightly over 0.1 million shares with a turnover of Rs.11.3 million.
Alliance Finance announced an interim dividend of Rs.25 per share for 2012/13 XD from Dec. 10 and with payment on Dec. 18 while Ceylon Tea Services announced an interim dividend of Rs.20 per share for 2012/13 XD from Dec. 10 and with payment on Dec. 14.
source - www.island.lk
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