Bourse rebounds

16 August 2011 01:03 pm - 0 - {{hitsCtrl.values.hits}}

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ASI closed at 7,050.74, up 214.21 (+3.13%) while liquid MPI settled at 6,427.19, up 227.6 points (+3.67%).

The market turnover jumped to Rs.3.7bn. Market RSI was recorded at 65 (+22.6%).

Lanka Hospitals stock was the star at the Colombo bourse yesterday as the share closed at an all time high of Rs.89.5, up Rs.36.80 or 69.8 percent for the day.

According to brokers the share was targeted by speculators. The market was full of various speculative stories which even said India’s Fortis group is planning to increase their shareholding in the company. Fortis currently has 29.6 percent of Lanka Hospitals.

Amidst these speculations, 5 million Lanka Hospitals’ shares traded between Rs.50-Rs.89.50, contributing Rs.623 million to the day’s turnover. The company has 223.7 million shares in issue including two crossings of 500, 000 and 484, 200.

For the second quarter which ended June 30, Lanka Hospitals’ net profit fell 3 percent to Rs.66.2 million. The revenue of the company went up 26 percent to Rs.926 million.

The top 20 shareholders of the company consists Waskaduwa Beach Resort Limited and Triad Private Limied, controlled by Dilith Jayaweera.

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Bourse rebounds

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