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Index-heavy companies’ share prices down

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By Hiran H.Senewiratne 

CSE market activities were negative yesterday with the index heavy LOLC share prices plummeting by 18 percent. The reason  being that investors were slightly taken aback at LOLC quarterly results which did not prove exceptionally good. As a result, 87 negative points were contributed to the All Share Price Index yesterday, stock market analysts said.

Apart from LOLC, several index heavy companies’ share prices went down, including Vallibal One, whose shares dropped by 10 percent and it contributed 20 negative points. Browns Investments reported a 9 percent drop and it contributed 20 negative points, Expolanka witnessed a five percent drop, contributing 17 negative points.

Amid those developments, both indices moved downwards. The All Share Price Index went down by 326.36 points and S and P SL20 declined by 126.05 points. Turnover stood at Rs. 4.28 billion with three crossings. Those crossings were reported in Sampath Bank, where 500,000 shares crossed for Rs. 82.5 million; its shares traded at Rs. 165, Sanasa Development Bank 850,000 shares crossed for Rs. 51 million, its shares traded at Rs. 60 and Hemas Holdings 350,000 shares crossed for Rs. 30.8 million, its shares trading at Rs. 58.

In the retail market top five companies that contributed to the turnover were; LOLC Rs. 730 million (1.97 million shares traded), Dipped Products Rs. 383 million (6.1 million shares traded), Expolanka Rs. 304 million (6.5 million shares traded, JKH Rs. 280 million (1.78 million shares traded) and Vallibel One Rs. 273 million (4.3 million shares traded). During the day 117.4 million share volumes changed hands in 34809 transactions.

Samapth Bank announced a dividend, which was Rs. 8.25 per share. Due to uncertain market conditions Sampath Bank shares  depreciated yesterday.     In contrasting actions, state fund EPF sold down in Hayleys PLC, while Sri Lanka Insurance Corporation Life Fund has upped its stake in the quarter ended December 31, 2020. Hayleys also saw 605 new shareholders in the quarter.

As per latest shareholding at Hayleys, EPF has moved down to fourth from third after selling 2.3 million shares. Its shareholding with 2.34 million shares amounted to 3.12 percent down from 5.04 percent  previously. SLIC Life Fund has increased its stake to 0.79 million shares or 1.06 percent  from 0.39 million shares or 0.5 percent.High net worth individual investor and former Director Nimal Perera figures in the Top 20 shareholders list with 0.5 million shares or 0.67 percent shares while J.B. Cocoshell Ltd. is also a new entrant with 0.37 million shares or 0.5 percent.  Hayleys’ public shareholding is 37 percent  held by 6,974 shareholders, up from 6,369 shareholders as at September 30, 2020.       

Sri Lanka rupee quoted wider around 195.00/197.50 levels to the US dollar in the spot market on Tuesday, while bond yields edged up on selling pressure, dealers said. The rupee last closed in on the one-week forward market at 196.50/197.00 levels on Monday. In the secondary market, bond yields gained on selling pressure but the market remained dull, dealers said.



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ICC breaks ground on ‘The Residencies Kohuwala’

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ICC officials at the ground breaking ceremony

International Construction Consortium (ICC), Sri Lanka’s trusted name in construction and development, proudly announces the groundbreaking of its latest residential project, “The Residencies Kohuwala”. Set in one of Colombo’s most dynamic and connected neighborhoods, this new development is poised to redefine city living with smart design, premium amenities, and ICC’s signature quality.

As both developer and contractor, ICC brings a unique commitment to excellence, delivering what is promised, on time, and without compromise. This dual expertise continues to set ICC apart in the real estate landscape, ensuring each project is completed with precision, integrity, and long term value.

The launch of The Residencies Kohuwala comes as ICC celebrates significant milestones across its other flagship projects:

The Residencies Kotte, a landmark twin-tower development with 234 apartments, is now in its final construction phase and well ahead of schedule. With construction completion anticipated by December 2025, it stands as a testament to ICC’s reliability and project discipline.

Meanwhile, Oceanfront Service Apartments Marine Drive, ICC’s third beachfront service apartment project is rapidly gaining attention. Located on Colombo’s iconic Marine Drive, this project offers a rare investment opportunity with high ROI potential and year-round rental appeal.

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Kobe Motor teams up with Auto Miraj as authorized partner for powertrain warranty

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Umar Ali (President – Kobe Motor Company) and Ramith Sarathchandra (Deputy Chairman – Auto Miraj Group) exchanging the agreement

Kobe Motor, a global leader in Japanese vehicle exports since 1997, has recorded a sharp increase in vehicle sales to Sri Lanka following the recent lifting of the import ban. The company reported over 2,500 vehicle imports, underscoring the strong consumer trust it has built over nearly three decades.

Headquartered in Yokohama, Japan, Kobe Motor operates in over 60 countries, with active regional hubs in Sri Lanka, the Philippines, Kenya, Tanzania, Pakistan, Mauritius, and the UAE. With an inventory of over 3,000 vehicles in stock and access to 100,000+ units worldwide, the company offers a broad selection of cars, trucks, machinery, and boats.

As a Gold Member of Japanese auctions, Kobe Motor guarantees competitive pricing. Its multilingual team—fluent in 15 languages—delivers highly personalized service, ensuring a smooth and efficient purchasing experience.

Kobe Motor has announced Auto Miraj as its authorized nationwide service partner. This collaboration aims to offer unparalleled value and peace of mind to Sri Lankan vehicle owners. The two world renowned brands, with the experience and understanding the customer requirements, step into another revolutionize strategic alliance to serve unmatched benefits to every Sri Lankan. Kobe Motor – the leading Japanese Vehicle Exporter and Auto Miraj, the leading aftercare service provider join hands today begin a new era together in the years to come.

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Vista Solar named Best Solar Provider at Asia Miracle Awards 2025

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Dr. Senaka Wijesinghe (Managing Director and CEO) receiving the award

Vista Solar Energy, a leader in Sri Lanka’s renewable energy sector, was honoured with the Best Solar Energy Solution Provider of the Year award at the Asia Miracle Awards 2025. The event took place recently at the Taj Samudra Hotel in Colombo. Over the years, Vista Solar Energy has built a strong reputation for making clean energy more accessible to both homes and commercial properties.

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