Notable appreciation of shares in Cooperative Insurance and hSenid – The Island
By Hiran H. Senewiratne
Two newly listed companies, Cooperative Insurance and hSenid, saw their stock prices appreciate significantly on the CSE yesterday, which is a notable event, according to stock analysts.
In addition, companies in the plantation sector were able to maintain their momentum as on the previous day. But notable activity is taking place at the counters in the tourism and hospitality sector due to the significant increase in tourist arrivals to Sri Lanka from December 1 to 26 this year, amounting to 70,000 arrivals, according to the report. said stock analysts.
In the midst of these developments, both indices have increased. The All-Share Price Index increased 104.5 points and S and P SL20 increased 23.7 points. The turnover amounted to Rs 6.5 billion with five passages. These crosses were reported to Commercial Bank, which crossed 3.9 million shares for an amount of Rs 308 million, its shares traded at Rs 79, Melstacorp two million shares crossed for Rs 110 million, its shares traded at Rs 55, LOLC Holdings 32,000 shares traded for Rs 37.3 million, its shares traded at Rs 1,165.75, Royal Ceramic 500,000 cross shares for Rs 37.2 million, its shares traded at Rs 74.40 and Bukitdarah 50,000 cross shares for Rs 20 million, his shares reaching Rs 400.
In the retail market, seven companies that mainly contributed to turnover were; Expolanka Holdings Rs 815 million (2.2 million shares traded), Browns Investments Rs 546 million (37.8 million shares traded), Cooperative Insurance Rs 407 million (92.5 million shares traded), hSenid Rs 410 million (12.4 million shares traded), Lanka IOC Rs 179 million (2.5 million shares traded), Elpitiya Plantations Rs 179 million (1.2 million shares traded) and Richard Peiris Rs 161 million (6.4 million shares traded). During the day, 509 million share volumes changed hands in 59,000 trades.
Price appreciations were noted in two newly listed companies. One was Cooperative Insurance, where the share price appreciated 30 percent or Rs 1.10. Its shares climbed to Rs 4.70 from Rs 3.60. The second was hSenid, whose share price appreciated by 16% or Rs 4.50. Its share price climbed to Rs 32.80 from Rs 28.30. In addition, Elpitiya Plantations’ stock price appreciated by 21.25 rupees or 16 percent. Its share price climbed to Rs 156 from Rs 134.
Meanwhile, LOLC General Insurance, which has oversubscribed 12 times, will be listed today on the Board of Divisavi. The company will issue 1.2 billion shares, of which 120 million will be offered to the public at Rs 7.90 per share to raise Rs 948 million.
He said high net worth and institutional investor stake were noted in Melstacorp, Commercial Bank and Sinhaputhra Finance. There was mixed interest in Expolanka Holdings, hSenid Business Solutions and Browns Investments, while retail interest was noted in SMB Non-Voting and Voting Leasing and Industrial Asphalts.
On a sectoral level, plantation values saw greater traction during the session and ended sharply higher while the food, beverage and tobacco, diversified financials, and goods sectors. equipment and banks dominated the activity, collectively accounting for 72.7% of sales. Activity continued vigorously as the market spread turned positive with 124 gains and 91 declines.
Separately, Kelani Valley Plantations, Haycarb and Singer Sri Lanka announced their interim dividends of 25 cents, 75 cents and 35 cents per share respectively.
Yesterday the US dollar was listed at Rs 201.96, which was the price controlled by the Central Bank. The real price of the dollar has now reached 250 rupees, according to market sources.