News & market updates

Sri Lanka's ASPI closed up 0.04% (7.52 pts) at 17,122.73 despite month-end selling, with turnover Rs 5.1bn and a net domestic inflow of Rs 405m (foreign outflow Rs 405m). Banking, diversified counters and capital goods drew interest; notable movers included LOFC +2.9%, CFIN +3.2%, TJL +3.8% and TAP +7.0%.

Colombo Stock Exchange rose as banking stocks led gains after Fitch upgraded several Sri Lankan banks; the ASPI closed up 1.40% at 16,828.80. Turnover was LKR 10.66bn with a net domestic inflow of LKR 670m and a net foreign outflow of LKR 670m; notable movers included HNB, NDB, Browns and Ceylon Tobacco.

Colombo market opened bullish as the ASPI rose ~115 points (0.71%) to 16,373 on turnover of Rs.5.5bn. Banking and Capital Goods led activity with DFCC, HNB, NDB, Teejay Lanka, Sierra Cables, CIC and Ceylon Cold Stores among top contributors.

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.

C.W. Mackie PLC appointed Indrajit Asela Wickramasinghe and Shrihan Blaise Perera as Independent Non-Executive Directors effective 30 December 2024. Wickramasinghe is the former CEO of Union Bank and Perera holds board/audit committee roles at Teejay Lanka and has senior FMCG experience.

Colombo market opened the holidays-shortened week higher as the ASPI rose 1.4% and the S&P SL20 rose 2% on turnover of Rs.4.4bn, supported by lower T-bill yields and strong banking and blue‑chip buying (notable contributors: SAMP, DFCC, NDB, HNB, COMB, JKH).

Colombo Stock Exchange closed higher: ASPI up 0.98% (147.79 pts) to 15,168 and S&P SL20 up 0.82% to 4,535 on turnover of 5.4 billion rupees. Top contributors included Hayleys, Central Finance, C T Holdings and Sampath Bank, with a net foreign outflow of 94 million rupees.

Teejay Lanka PLC will set up manufacturing operations in Egypt via a new entity incorporated on 19 November 2024. In H1 FY25 the Group reported PAT of Rs.0.9bn, revenue of Rs.32.7bn (up 11% y/y), gross profit Rs.3.2bn (up 47%) and cash of Rs.8.4bn.

UN Global Compact Network Sri Lanka and UNDP held a Science-Based Targets initiative workshop urging corporates to set validated SBTs to reduce emissions and strengthen resilience; Teejay Lanka and Talawakelle Tea presented local case studies and Hayleys representatives shared experiences to boost corporate decarbonisation and reporting.

UN Global Compact Network Sri Lanka and UNDP held an SBTi workshop with 48 companies to support setting science-based decarbonisation targets; Teejay Lanka (TJL.N0000), Talawakelle Tea Estates (TPL.N0000) and Hayleys (HAYL.N0000) presented local case studies.

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.

Teejay Lanka reported September-quarter net profit fell 20% to 756 million rupees. Revenue rose 11% to 17.2 billion and the company said it is winning China+1 orders with shifts from Bangladesh to India and Sri Lanka, while facing currency challenges.

Teejay Lanka (TJL.N0000) posted a PAT of Rs.0.9 bn for H1 to 30 Sep, with revenue up 11% to Rs.32.7 bn and gross profit of Rs.3.2 bn; cash balance Rs.8.4 bn and net assets Rs.30.4 bn. Management cited rupee depreciation, supply-chain volatility and a shift of orders to Asia while pursuing digitalisation and ESG initiatives.

Teejay Lanka (TJL.N0000) reported H1 profit after tax of LKR 0.9 Bn and revenue of LKR 32.7 Bn (up 11%) for the half-year to 30 Sep 2024. Gross profit rose 47% to LKR 3.2 Bn, net assets were LKR 30.4 Bn (LKR 42.19/share) and cash LKR 8.4 Bn; management cited digitalization, ESG, cost reductions and stronger export demand despite rupee depreciation.

Colombo Stock Exchange closed higher: ASPI rose 0.92% to 12,164 and S&P SL20 gained 1.34% to 3,590, led by banking stocks which accounted for Rs 1.4bn of turnover; top contributors included C T Holdings, Sampath Bank, John Keells and Commercial Bank.

Colombo market extended gains as the ASPI closed at 11,992.91 (+1.16%), led by banking and consumer durables; HNB, Sampath, Commercial Bank, DFCC and John Keells were top positive contributors amid higher turnover and renewed apparel export demand.

Colombo market turnover topped Rs. 4 billion as the ASPI closed up 12 points at 11,672, marking an eighth consecutive day of gains. Banking stocks drove activity—contributing 39% of turnover with HNB, Sampath, NDB, Teejay Lanka and DFCC among top positive contributors, while Commercial Bank fell.

Teejay Lanka PLC has partnered with InterBalance to implement an ESG management framework aligned with GRI and IFRS S1 and S2, and its 2023/24 annual report follows a double materiality approach to sustainability reporting.

Colombo bourse slipped with the S&P SL20 down 0.83% and ASPI down 0.35% on turnover of Rs.1.03bn as political uncertainty and net foreign selling weighed on sentiment. Banking and blue-chip counters (notably Sampath, Commercial Bank, John Keells and Melstacorp) were main drags while Teejay Lanka and Hayleys saw notable activity.

Colombo Stock Exchange closed lower: All Share Index fell 0.35% to 10,907 and S&P SL20 fell 0.83% to 3,070, with turnover around LKR 1 billion and a net foreign outflow of 25.6 million; top turnover stocks included Sampath, Hayleys, Teejay, Nations Trust and Commercial Bank.

Colombo market opened lower with the ASPI closing at 11,495, down 9 points, on turnover of Rs.580.5m; capital goods led turnover (38%) while banking and blue-chip counters put pressure on the index.

Colombo Stock Exchange closed with the All Share Index down 0.11% at 11,482 and the S&P SL20 up 0.08% at 3,302, on turnover of 547 million and net foreign inflow of 580,955. Top movers included Sampath Bank, NDB and Aitken Spence (higher), Chevron Lubricants and Teejay (foreign buying) and Melstacorp (down).

Colombo Stock Exchange closed lower as All Share Index fell 0.08% to 11,494 and S&P SL20 fell 0.02% to 3,300, with differing informal election polls weighing on sentiment. Turnover was 580 million with net foreign inflow of 47.8 million; crossings included JKH, TJL and MELS, and Lanka Aluminium declared a Rs1 dividend.

ESG Summit 2024, opened by the President, emphasised Sri Lanka's net-zero by 2040 goal and called for major investment in renewable energy and sustainable supply chains. The focus on low-carbon infrastructure and export-oriented sustainability supports renewable-energy firms and exporters such as VLL.N0000 and TJL.N0000.

Teejay Lanka reported profit before tax of Rs 273.7m and net profit of Rs 158.3m for Q1 ended 30 June 2024, reversing prior-year losses. Revenue rose 10% to Rs 15.4bn, gross profit increased 357% to Rs 1.3bn and cash stood at Rs 8.9bn.

Colombo Stock Exchange closed down: ASPI fell 0.36% to 11,253 and S&P SL20 fell 0.43% to 3,210, with turnover Rs629mn. Top contributors included Sampath (up after stellar interim results and a Rs10bn debenture announcement), DFCC and SMB Finance, while several banks including HNB, NDB and Commercial Bank weighed on the index; net foreign inflow was Rs19mn.

Teejay Lanka (TJL.N0000) reported profit before tax of Rs 273.7 million and net profit of Rs 158.3 million for Q1 ended 30 June 2024, reversing prior-year losses on revenue of Rs 15.4 billion and gross profit of Rs 1.3 billion. The group ended the quarter with Rs 8.9 billion cash, citing ESG, digitalisation and higher Asian orders as drivers of the turnaround.

President Ranil Wickremesinghe will inaugurate the Daily FT–Colombo University MBAA ESG Summit 2024 tomorrow at 9 a.m. at the Cinnamon Grand. Speakers and panelists include executives from HSBC and listed firms Alliance Finance (ALLI.N0000), Diesel & Motor Engineering (DIMO.N0000) and Teejay Lanka (TJL.N0000) discussing environment, governance and sustainable financing.