News & market updates

Sri Lanka's ASPI fell 2.95% (500.39 pts) to 16,456.10 on Feb 5 as profit-taking triggered broad selling. Top losers included HNB, Commercial Bank, NDB, Sampath, Teejay Lanka and Singer, while Ceylinco Holdings and Lion Brewery gained; turnover was Rs 6.3bn with a net foreign outflow of Rs 343m.

Fitch recalibrated Sri Lanka’s national rating scale, upgrading seven non-financial corporates (including Sri Lanka Telecom to AA-(lka), Windforce to A+(lka) and Resus Energy to A-(lka)) and revising Bogawantalawa Tea Estates to BBB+(lka).

Colombo Stock Exchange closed higher as ASPI rose 0.71% to 16,373.15, led by banks and capital goods stocks. Heavy volumes included Sierra Cables, Teejay Lanka and LOLC Finance, with Teejay Lanka, NDB, DFCC and Ceylon Cold Stores among top contributors.

The ASPI fell 143 points (0.9%) to 15,811 and the S&P SL20 lost 1.2%; turnover was Rs.4.13bn with a net foreign outflow of Rs.38m. Selling in banking counters (Sampath, Commercial Bank, DFCC) weighed on the market while John Keells, Browns and LB Finance saw heavy turnover and small price moves.

Colombo Stock Exchange rebounded with the ASPI rising 0.63% (≈99 points) to 15,954 on turnover of Rs.5.2 billion. Key contributors included Sampath, Melstacorp, LB Finance and Commercial Bank, with the banking sector leading turnover and a net foreign outflow of Rs.229.6m.

Distilleries Company of Sri Lanka (DIST.N0000) acquired 99.4% of Heineken Lanka and rebranded it as DCSL Breweries Lanka. The company has launched a new beer range (DCSL Strong, Lager, Stout) targeting local consumers and international markets.

Distilleries Company of Sri Lanka Plc (DIST.N0000) launched a new range of beers after acquiring 99.4% of Heineken Lanka and rebranding it as DCSL Breweries Lanka Ltd. The lineup (DCSL Strong, Lager, Stout) will be distributed across Sri Lanka and targeted at tourists and export markets.

Colombo Stock Exchange fell for a third straight day as the ASPI closed down 0.15% at 15,854.64 amid heavy profit-taking, with turnover of 4.5 billion rupees. Banks HNB, NTB and NDB and other contributors Central Finance, Hemas and Lion Brewery were among the top decliners.

Colombo Stock Exchange fell with the ASPI down 1.06% (170.82 pts) to 15,878.60 and the S&P SL20 down 1.10% to 4,806.63 on turnover of 8.5 billion rupees. There was a net foreign inflow of 188 million rupees; top positive contributors included Browns Investments, Watawala Plantations, Lion Brewery, Hayleys and Hemas.

Lion Brewery (Ceylon) PLC has commissioned Sri Lanka’s first BOI-approved Innovation Centre for craft and specialty brews to develop value-added products, boost exports and support the tourism sector.

Colombo Stock Exchange closed higher as the ASPI hit an all-time high, up 1.29% to 13,511 and the S&P SL20 rose 1.90% to 4,016 on turnover of Rs5.2bn. Banks and bluechips led gains (Commercial Bank, Sampath, John Keells, DFCC, NDB, Lion Brewery) amid bullish flows and nearing debt restructuring.

Lion Brewery (LION.N0000) is in talks with Diageo to locally produce Diageo spirit brands such as Vat 69 and Smirnoff, expanding into gin, brandy and vodka with feasibility work underway and outcomes expected in 2026.

Lion Brewery (LION.N0000) has built a 4 billion-rupee, 2,000-litre innovation centre to develop new beers and aims to increase exports to US$35m (about 20% of output) over the next five years. The facility will allow small-batch testing to reduce wastage and market new products to tourists; Distilleries (DIST.N0000) is noted as a competitor.

Colombo market opened higher as the ASPI rose 0.30% to 13,229 and the S&P SL20 gained 0.12% on turnover of Rs. 2.3bn; top contributors included HAYL, SPEN, AEL, JKH and CFIN, with Lion Brewery closing up at Rs. 1,114.75.

Colombo Stock Exchange ASPI rose 0.30% to 13,228 on turnover of Rs2.3bn, led by retail buying in food, beverage & tobacco and renewed interest in construction. Notable movers included gains in Lion Brewery, Ceylon Cold Stores, Distilleries, Access Engineering and Central Finance, while Sierra Cables fell; net foreign outflow was Rs379mn.

Fitch affirmed Lion Brewery (Ceylon) PLC’s National Long-Term Rating at 'AAA(lka)' with a Stable outlook, citing strong market position and financials but noting medium-term competition from a new beer launch; Fitch also highlighted net cash position, margins and export plans.

The Colombo stock market edged up as the ASPI rose 8 points (0.06%) and the S&P SL20 gained 5 points (0.13%) on turnover of Rs.2.7 billion. John Keells, Commercial Bank, Lion Brewery, R.I.L. Property and food & beverage counters were among top contributors while foreign investors were net sellers of Rs.366 million.

Colombo Stock Exchange closed up: ASPI +0.06% to 13,113 and S&P SL20 +0.13% to 3,919 on turnover Rs2.7bn. Top contributors included John Keells, Commercial Bank, Lion Brewery and Access Engineering; banking stocks were mixed and there was a net foreign outflow of Rs366mn.

The Institute of Supply and Materials Management held National Supply Chain Day on 24 Oct 2024 in Colombo, hosting an international seminar and awards attended by ~400 participants. The event featured CEOs from Dialog and Singer, and listed firms including Hayleys, Lion Brewery, Dipped Products, CIC, Alumex, DIMO and Haycarb were among nominees.

Colombo Stock Exchange closed lower: ASPI down 0.06% at 12,855 and S&P SL20 down 0.11% at 3,875. Banking stocks led turnover and mostly fell (Commercial Bank, HNB, DFCC, NDB down) while Melstacorp, Sampath, Teejay Lanka and Lion Brewery were top gainers; turnover was 1.8bn rupees with a net foreign outflow of 31m.

A Sri Lankan business delegation visited Thailand to explore partnerships and investments ahead of the Sri Lanka–Thailand free trade agreement taking effect in January 2025, focusing on tourism, healthcare, agriculture, logistics and food & beverage sectors.

Colombo Stock Exchange ended the week in green: ASPI rose 0.35% to 12,517 and turnover was Rs4.7bn, with Sampath Bank and Hatton National Bank contributing over Rs1bn and Rs1.3bn respectively. Net foreign outflow was Rs186m and Lion Brewery announced a Rs17.3/share dividend.

Dividend · Rs 17.30 · XD Nov 6, 2024

First Interim dividend of LKR 17.3/share; XD 2024-11-06; record 2024-11-06; payable 2024-11-26; FY 2024/25

Colombo Stock Exchange closed mixed: ASPI fell 0.08% to 12,300 while S&P SL20 rose 0.11% to 3,628, with turnover Rs1.9bn and a net foreign inflow of Rs37m. Top contributors included John Keells, Lion Brewery, Sampath Bank, HNB and Central Finance.

Jonathan Alles has been appointed to the Board of Hayleys PLC as an Independent Non-Executive Director. Alles is a former MD/CEO of Hatton National Bank with over 37 years' banking experience and was recently appointed to the boards of United Motors Lanka, Ceylon Beverage Holdings and Lion Brewery.

Lion Brewery (Ceylon) PLC has been accredited with ISO 27001:2022 for its data center and information security. The company plans a full transition to a cloud-based system by 2025 and will extend the certification to application development.

Sri Lanka stocks closed up 1% with the Colombo All Share Index rising 123.5 points to 12,053, led by gains in John Keells, Sampath, Hatton National Bank and NDB. Turnover was 2.83 billion rupees; Melstacorp rose while Lion Brewery fell.

The Excise Department has called on liquor manufacturers to pay Rs. 1.8 billion of unpaid excise taxes by 30 November, warning legal action for non-compliance. The department has collected Rs. 162 billion of its Rs. 323 billion target so far.

Ceylon Beverage Holdings PLC appointed Jonathan Alles, Ajay Bhaskar Baliga and Saktha Amaratunga as Independent Non-Executive Directors; Alles and Amaratunga were also appointed to the board of Lion Brewery Ceylon PLC.