Colombo Stock Market closed mixed: ASPI +40 pts (+0.27%) while S&P SL20 -14 pts (-0.3%), with turnover Rs.5.85bn on 357m shares and a net foreign outflow of Rs.1.5m. Top contributors included Ceylon Cold Stores, PGP Glass, John Keells, Lanka IOC, Dipped Products and Lanka Milk Foods, with Food, Beverage & Tobacco leading turnover.
Colombo market closed with the ASPI up 0.27% at 14,654.26 while the S&P SL20 fell 0.32% to 4,390.12 as profit-taking in banking stocks weighed on the SL20. Top gainers included Ceylon Cold Stores, PGP Glass, John Keells, Dipped Products and Lanka IOC; net foreign outflow was Rs 1.4 million.
Dr. T. Senthilverl sold his 6% stake in Alumex PLC for Rs. 408 million. Buyers included Rayynor Silva, Aravinda de Silva and Ajith Devasurendra; Senthilverl also increased stakes in Agarapatana (over 10%) and Kotagala (5%) and exited a 10% stake in Asia Asset Finance.
Colombo Stock Exchange ASPI rose 0.40% to 13,613 and S&P SL20 gained 0.41% to 4,069 on Friday, with turnover Rs4.9bn and a net foreign outflow of Rs429m. Major contributors included Hayleys, Sunshine Holdings, LOLC, Access Engineering and Royal Ceramics; heavy volumes in HNB Finance and plantation stocks.
Colombo market showed a muted response to the NPP landslide, with the ASPI up 0.2% and the S&P SL20 up 0.08% on turnover of Rs.5.5bn; the banking sector led turnover while foreign investors were net sellers of Rs.761.2m.
Ada Derana·Nov 4, 2024·Promotional / marketingPositive
Kotagala Plantations opened the Rosita Tea House, its first dedicated Tea Center overlooking St. Clair's Waterfall, to showcase Dimbula single-origin teas. The ceremony included Lankem Plantations and Sri Lanka Tea Board representatives and aims to promote Kotagala's tea to visitors and global markets.
Kotagala Plantations (KOTA.N0000) was downgraded by Fitch to 'CCC(lka)' and its unsecured debentures to 'CCC-(lka)' after a statutory wage hike and weakening liquidity. Fitch flagged insufficient cash to meet ~LKR540m and LKR496m maturities in FY25–26 and noted guarantees/possible support links to CFLB and Lankem (LCEY).
Colombo market closed lower with the S&P SL20 down 0.7% and ASPI down 0.4%, while foreigners were net buyers of Rs.153.6m. Banks (e.g. Commercial Bank, Sampath) dragged indices, while Balangoda Plantations, John Keells and Hayleys Fabric led turnover with mixed price moves.
Fitch assigned Bogawantalawa Tea Estates PLC a first-time national long-term rating of 'A(lka)' with a Stable Outlook and gave its outstanding senior unsecured debentures the same rating. Fitch cited structural industry decline and cost pressures but noted Bogawantalawa's healthy financial profile and net cash position as buffers.