News & market updates

Dipped Products said it will merge its wholly owned subsidiary DPL Premier Gloves Limited, subject to Board of Investment approval. The board said the amalgamation will financially and operationally benefit the company; the stock was trading up 1.85% at 49.50 rupees.

Sri Lanka stocks closed mixed: ASPI fell 0.08% to 15,543.99 while the S&P SL20 rose 0.05% to 4,608.41. Trading was volatile with Lion Brewery, Melstacorp, Central Finance, NTB and DFCC among top decliners, Haycarb and Hayleys Fiber gained and turnover was LKR 1.1bn.

Colombo bourse opened marginally negative as the ASPI fell 17 points (0.11%) to 15,600 on low turnover of Rs.1.16bn. Banking stocks led turnover (24% share) while HAYL, LION, JKH, DIPD and TJL were top negative contributors and Sampath and Lanka IOC drew buying interest.

Sri Lanka export stocks fell after China warned it would take countermeasures, with the ASPI down 0.11% to 15,599.61. Export-linked names including Teejay Lanka, Dipped Products, Hayleys Fabric, John Keells and Lion Brewery led declines amid weak market sentiment.

A 90-day US tariff pause lifted the Colombo market: ASPI +4.74% and S&P SL20 +6.7%, boosting market capitalisation by about Rs.221bn to Rs.5.549tn on Rs.7bn turnover, led by heavy trading in Sampath Bank, John Keells, Commercial Bank and RIL Property.

ASPI fell 1.7% to 14,876 with the S&P SL20 down 2.4%; turnover was Rs.3 billion and there was a Rs.1 billion net foreign inflow led by John Keells (Rs.665m). Banking names (Sampath, Commercial Bank, Hatton) and Hayleys were among the main laggards while capital goods drove turnover.

Colombo stocks fell after the US 'Liberation day' tariff announcement, with the ASPI down 1.82% (284.25 pts) to 15,373.35 and the S&P SL20 down 2.19% to 4,541.71. Banks and export-linked stocks led losses, with top negative contributors including Sampath Bank, Commercial Bank, John Keells, HNB and LOLC and turnover sliding to 3.17 billion rupees.

Sri Lanka stocks plunged for a second day as the ASPI fell 362.66 pts (2.32%) to 15,294.94 and the S&P SL20 fell 125.95 pts (2.71%) to 4,517.37 after a US executive order imposing a 44% tax on Sri Lanka. Major banks and exporters including Commercial Bank, Sampath, HNB, LOLC, John Keells, Teejay Lanka, Hela Apparel, Haycarb and Dipped Products dropped roughly 0.2–5.6%.

Colombo stock market plunged over 2% as the ASPI fell 350 points after the US imposed reciprocal tariffs on Sri Lanka, hitting export-oriented counters. Turnover rose to Rs.3.8bn with heavy selling in Commercial Bank, Hayleys, Melstacorp, HNB and Sampath, while a 38% TSML stake sale by JKH drove turnover.

A US 44% reciprocal tariff on Sri Lanka exports triggered a market sell-off, sending the ASPI down 2.19% (349.84 pts) and hitting exporters and other stocks (e.g., Hela Apparel -8.11%, Teejay Lanka -8.66%).

CAL Group research said four listed exporters — Hayleys Fabric (MGT), Teejay Lanka (TJL), Dipped Products (DIPD) and Haycarb (HAYC) — are likely affected by US reciprocal tariffs on Sri Lanka (44%); Hayleys Fabric is seen as most exposed and its shares fell 12.9%.

US announced a 44% reciprocal tariff on Sri Lanka, triggering a slump in export stocks: Hela Apparel -8.11% (LKR 3.40), Teejay Lanka -9.06% (LKR 46.20), Haycarb -5.31% (LKR 78.50), Dipped Products -7.53% (LKR 52.80).

Colombo market reverted to YTD positive as the ASPI rose 73 points (0.46%) to 16,007, leaving YTD up 0.39%, while foreigners were net sellers of Rs. 282m. Top movers included HAYL and CTC; turnover was Rs. 2.3bn led by Capital Goods and Food, Beverage & Tobacco sectors.

Dividend · Rs 0.85 · XD Apr 8, 2025

Fourth Interim dividend of LKR 0.85/share; XD 2025-04-08; record 2025-04-08; payable 2025-04-24; FY 2024/2025

Colombo market closed flat (ASPI -4) despite higher turnover of Rs.2.9bn led by Sampath Bank (Rs.1.2bn); banking drove 52% of turnover while capital goods and food/beverage/tobacco made up 26%. Foreign investors were net sellers (Rs.122m) and several large crossings dominated activity.

Sri Lanka stocks closed flat as the ASPI fell 0.03% to 15,908.23 with turnover of Rs2.89bn driven by crossings and heavy bank trades, including a Rs1.1bn off-board Sampath Bank transaction. Notable movers included Ceylinco Insurance (-5.7%), Dipped Products (-3.0%), HNB and DFCC.

ASPI rose 33 points (0.2%) as turnover hit Rs.1.9 billion, led by crossings in Hatton National Bank, Commercial Bank and CIC Holdings; banking stocks were the main drivers while materials also saw heavy trading.

Colombo market rebounded as ASPI rose 151 pts (0.96%) to 15,861 on turnover of Rs.24bn, led by banking and blue‑chip gains; top contributors included COMB, HNB, SAMP, HAYL and JKH while BOGA, JKH and SAMP led turnover.

Sri Lanka's ASPI rose 0.96% to 15,861.14 and the S&P SL20 gained 1.07% as turnover was Rs 2.42bn with a net foreign inflow of Rs 49m. Top contributors included Commercial Bank, HNB, Sampath Bank, Hayleys and John Keells.

Colombo market fell 1.9% as the ASPI dropped 290 points to 15,711 on turnover of Rs.2.5bn, led by a selling spree; major negative contributors included HNB, SFCL, LOLC, COMB and HAYL. The banking sector accounted for 41% of turnover and its index lost 2.01%.

Colombo market fell for a second day as the ASPI dropped 1.2% to 16,859 (≈215 pts) with turnover of Rs.2.9bn and a Rs.381mn foreign outflow; the Banking sector led the decline with HNB, Sampath Bank and NDB among the top negative contributors.

Colombo Stock Exchange fell 0.9% as the ASPI dropped 0.86% to 16,927.13 amid profit-taking—especially in banks—and a net foreign outflow of Rs 380mn. DFCC reported an 80% rise in December-quarter profits and Sampath an 85% increase.

Colombo Stock Exchange closed down 0.70% to ASPI 17,074.02 on turnover Rs3.6bn, with a net foreign inflow of Rs307mn. Top turnover and movers included Dialog, Commercial Bank, Hemas, HNB and John Keells; LB Finance announced a Rs2.25 interim dividend.

Colombo Stock Exchange rose after the Budget, with the ASPI up 1.3% and net foreign inflows of Rs. 777.4 million. Banking, insurance and diversified financials led the session, with Ceylinco, Melstacorp, NDB and Sampath among the top contributors.

Dipped Products PLC won Innovative Export Product of the Year for its Magneto glove and Best Exporter in the Latex Rubber Product Category at the 26th Presidential Export Awards. The Magneto glove can detect 5mm x 5mm fragments, holds US and Sri Lanka patents, and DPL is a subsidiary of Hayleys PLC.

Hayleys PLC reported a 108% rise in profit to Rs 4.4 bn in the December 2024 quarter, with EPS of Rs 5.87. The group noted nine-month EPS of Rs 10.10, Rs 294 bn in short-term investments, a Dipped Products acquisition in Thailand for Rs 1.58 bn and a 50 MW Mannar wind award.

Dipped Products' net profit rose 43% to 1.01 billion rupees in the December 2024 quarter, aided by higher other income and a reduction in tax expenses. The Hayleys group unit's pre-tax profit was marginally up, and Dipped Products acquired Hi Care Thai Gloves in Thailand for $11m to expand internationally.

Colombo market turned bearish as the ASPI slipped 2 points to 17,115 on turnover of Rs.7.34bn and a net foreign outflow of Rs.2.2bn led by JKH; capital goods led turnover while NDB, COOP, AEL and Sierra Cables rose and Browns, Royal Ceramics, Melstacorp, LOLC and Hayleys lagged.

SLAMERP re‑elected Pushpika Janadheera (MD of Dipped Products PLC) as Chairman and set a target of $2 billion in rubber exports by 2030 after the sector earned $1 billion in 2024. The AGM highlighted the Rubber Master Plan, the Thailand FTA, training on technology and EUDR compliance, and challenges like high energy costs and declining natural rubber output.