Stock

The Rs.1.5 billion debenture issue by Singer (Sri Lanka) PLC has been oversubscribed and issue will close at 4.30 pm today as per the Prospectus

A substantial decrease in finance costs enabled Lanka IOC PLC (LIOC) to post a net profit of Rs.805.9 million for the three months ended March 31, 2013 (4Q12) as against Rs.42.6 million during the corresponding period of the previous year, interim financials released to the Colombo Stock Exchange revealed

Sri Lanka's diversified Hayleys PLC reported a net profit of Rs.490.8 million for the final quarter of FY12/13, up 267 percent year-on-year, helped by increased other income gains and a substantial deceleration of net finance costs.

Premier blue chip John Keells Holdings saw its market capitalization surpassing US $ 2 billion today for the first time amid sharp price gains, the Colombo Stock Exchange (CSE) provisional data showed.

Nestlé Lanka PLC, a unit of Swiss-based multinational, said its profit in the first quarter of 2013 (1Q13) rose 98 percent year-on-year (YoY) to Rs.914 million, mainly benefiting from the favourable exchange rate environment prevailed in the country

The consolidated post tax profit of Sri Lanka Telecom PLC (SLT) rose 226 percent Year-on-Year (YoY) to Rs.1.6 billion, helped by foreign exchange gains.

Sri Lanka's National Development Bank PLC (NDB) saw its group net profit falling 52 percent Year-on-Year (YoY) to Rs.500 million in the first quarter of 2013 (1Q13) despite bank's profit rising 387 percent

Shares rose for the fifth straight session yesterday to hit a new 1-1/2-year high, led by conglomerate John Keells Holdings despite foreign outflows as hopes of a rate cut at the Central Bank’s policy meeting later this week boosted local investor appetite for stocks.

Sri Lankan shares closed at their highest in nearly 1-1/2 years yesterday, led by blue chips, due to an improved appetite for risky assets after heavy foreign buying amid hopes of a rate cut at the central bank’s policy meeting later this week.

Sri Lankan shares hit a 16-month high yesterday on expectations of a rate cut at a central bank policy meeting later this month, traders said.

The Colombo Stock Exchange (CSE) is currently in the process of amending regulations pertaining to the listing of debt securities, according to CSE’s Assistant General Manager of Regulatory Affairs, Renuke Wijayawardhane.

Shares hit a sixmonth high yesterday, as investors bought diversified shares and retail investors came back after the Central Bank said there would be room for further monetary policy easing.

Shares hit a two-and-ahalf month high yesterday, led by foreign buying, after the central bank said there would be room for further monetary policy easing, though it freezed the key policy rates for April.

The Sri Lankan rupee gained slightly to its highest close in a year yesterday on dollar inflows from inward remittances and exporter conversions ahead of the traditional New Year, dealers said. The rupee edged up to 125.50/55 to the dollar, from Friday’s close of 125.50/70, its strongest close since April 9, 2012.

The Colombo Stockbrokers Association (CSBA) recently launched a code of ethics and website to promote best practices and standards among its membership.

Royal Ceramic PLC (RCL) last week completed the sale of the controlling stake of Asia Siyaka PLC to Lanka Commodity Brokers Ltd, using a special approval granted by the country’s market regulator.

The Colombo Stock Exchange (CSE) opened its 6th branch office in Anuradhapura yesterday.

Stocks ended tad weaker yesterday to hit a one-week low despite foreign inflows, as investors were worried over upward pressure on interest rates after yields in Treasury bills rose for a fourth straight week.

Sri Lankan stocks edged up for the fourth straight session yesterday to a near fourweek high on foreign buying in blue chips like market heavyweight John Keells Holdings.

Sri Lankan stocks rose for a third straight session yesterday to a near one-month high as investors picked up bank shares, but turnover was low as many investors stayed away because of rising interest rates.