News & market updates

Lankem Ceylon PLC has invested Rs. 3 billion to open a 50,000 tpa Single Super Phosphate (SSP) plant 'Mada Raja' via subsidiary Lankem Minerals, targeting up to 80% of Sri Lanka's SSP demand and reduced imports. The locally made SSP supplies phosphorus, sulphur and calcium to address sulphur-deficient soils and support crops including tea, paddy and coconut.

Lankem Ceylon (LCEY.N0000) invested Rs. 3 billion to commission a Single Super Phosphate (SSP) plant with 50,000 mt annual capacity, targeting up to 80% of Sri Lanka's SSP demand. The plant will use Eppawala rock phosphate and source over 30,000 mt annually from Lanka Phosphate to reduce imports and support soil health for crops including tea.

CSE All Share Index rose 0.43% to 21,156.10 while the S&P SL20 fell 0.26% to 5,888.48, with Hatton National Bank and Commercial Bank sliding after dividend expiries. Turnover was 3.57 billion rupees; Melstacorp and Sampath led gains while Central Finance was a top laggard.

Hayleys Mobility (part of Hayleys PLC) opened a Kaiyi Flagship Store in Colombo, showcasing the Kaiyi eVibe E04 EV with a CLTC-certified 300 km range and up to 30-minute fast-charging capability.

Colombo Stock Exchange rose as the ASPI gained 0.55% (116.65 pts) to 21,182.83, with bank stocks leading turnover of Rs.370 million. WindForce filed to issue up to 40 million green bonds to raise Rs.4 billion; top movers included Sampath, ACL Cables and Dialog while HNB and John Keells weighed on the index.

Morison, a subsidiary of Hemas Holdings, invested LKR 4 billion in a world‑class Pitipana manufacturing facility and is shifting focus to build branded, high‑quality affordable pharmaceuticals with EU‑GMP targets and export ambitions. Management cites policy, regulatory consistency and tax reforms as key enablers for long‑term viability.

Colombo Stock Exchange closed marginally down as the ASPI fell 0.12% to 21,066.18 after an intra-day dip below 21,000, with turnover ~Rs.3.6bn and foreign net outflows of Rs.125m. Sampath, NDB, Hayleys, ACL Cables and PGP Glass were cited as top negative contributors and the ASPI was down 11.24% for March.

Sunshine Holdings completed the acquisition of a 75% stake in Joint Agri Products Ceylon Ltd for Rs. 2.6988752284 billion (≈Rs. 2.7 b). The target processes and exports spices, coconut products and tea, and the deal bolsters Sunshine's consumer/export portfolio and presence in export markets.

Colombo Stock Exchange closed down with the ASPI down 0.12% to 21,066.18 and turnover at 3.57 billion rupees. Crossings included John Keells (11,971,313 shares) and Seylan Bank (300,000), and Dipped Products and Haycarb announced cash dividends of 0.76 and 1.70 rupees per share respectively.

John Keells CG Auto, the sole authorised BYD and DENZA distributor, urged customers to use smart charging and provides 7kW and 2.5kW home chargers so vehicles can be scheduled to charge in off-peak hours, supporting grid stability amid higher tariffs and rising NEV demand.

Colombo Stock Exchange eased at midday with the ASPI down 0.33% to 21,022.14 and the S&P SL20 down 0.47% to 5,881.20. Brent futures fell below $110; Sampath Bank, Hayleys and ACL Cables were top decliners while Renuka Agri Foods rose after a filing showed a 10.04% shareholding.

The ASPI fell 1.33% (283.49 pts) to 21,092.24 as Colombo market opened lower amid rising oil prices and Mideast tensions; principal detractors included John Keells, NDB, Hayleys, Melstacorp and Commercial Bank while Lanka IOC and Browns Investments saw gains.

Dipped Products PLC (DIPD.N0000) was named Overall Winner – Most Outstanding Exporter 2025 at the National Chamber of Exporters Awards, winning five awards including Highest Net Foreign Exchange Earner and Gold in Rubber & Rubber Products. The company, part of Hayleys Group, was also recognised for emerging markets performance and inclusive employment.

Ambeon Capital (via subsidiary Ambeon Essentials) launched a voluntary offer to buy all Harischandra Mills shares at Rs.3,400 per share (equity value ~Rs.6.5bn); the SPA covers 51.11% (981,118 shares) at Rs.3.34bn and the offer will convert to a mandatory offer on acceptance.

Colombo Stock Exchange closed down 1.33% as Brent crude stayed above $115/bbl; ASPI fell 283.49 pts to 21,092.24 and S&P SL20 dropped 91.03 pts to 5,908.96. Turnover was Rs 4.76bn with diversified financials contributing Rs 1.612bn; JKH and Sampath saw crossings.

Colombo Stock Exchange fell, with the ASPI down 0.86% to 21,192.24 as Brent crude climbed past $115/bbl. Turnover was Rs 1 billion; top gainers were Bukit Darah (up 8.96%) and Browns Investments (up 8.77%), while Hayleys, Commercial Bank and NDB were among the biggest losers.

ASPI rose 3.56% for the week but closed yesterday down 0.21% at 21,375.73 as the bourse ended a volatile week; foreign investors were net sellers of over Rs.1.2 billion and market turnover was about Rs.2.7 billion.

Colombo Stock Exchange fell 3.4% over the week; ASPI closed at 21,375.73 (-0.21%) and S&P SL20 at 5,999.99, with turnover of 2.67 billion rupees. Top negative contributors were John Keells, NDB and Cargills, while Ambeon Capital's subsidiary offered to buy 1,919,600 Harishchandra shares at Rs 3,400.

Colombo market fell 2.05% (ASPI -448.91 pts to 21,419.94), wiping out Rs.173 billion after oil rose ~2% to ~$104/bbl amid escalating Mideast tensions. HNB, MELS, COMB, CTHR and JKH were the top negative contributors; turnover was near Rs.3.3 billion.

Ambeon Essentials (a subsidiary of Ambeon Capital) made a voluntary offer to buy 1,919,600 ordinary voting shares of Harischandra Mills at Rs 3,400 per share. Hayleys previously offered Rs 3,300 after acquiring a 40.58% stake, and Harischandra was trading at Rs 4,810.25.

Ceylon Cold Stores PLC won the Gold Award in the Large Category of the Confectionery Products Sector at the NCE Export Awards 2025 for its 2024/25 export performance. The John Keells subsidiary exports to 16 countries and is expanding ties in India via a partnership with Reliance.

John Keells Hotels (KHL.N0000) will host an Easter Brunch at Quizine on April 5 at Cinnamon Life at City of Dreams, featuring an extensive buffet, family activities and seasonal Sweet Labs treats.

A presidential tourism task force chaired by Tourism Minister Vijitha Herath met to shield the sector after arrivals fell 5.15% in the first 15 days of March amid Middle East conflict-related flight cancellations (447 arrivals, 451 departures). The industry faces heavy losses (estimated $80–100m/month) even as cumulative 2026 arrivals topped 708,348 year-to-date.

Sri Lanka's ASPI fell 2.05% to 21,419.94 on Thursday amid uncertainty over US‑Iran talks and Brent crude rising above $100. Hatton National Bank, Melstacorp, Commercial Bank and C T Holdings were top negative contributors; Commercial Bank announced scrip dividend allocations of 14,236,941 voting and 984,260 non‑voting shares.

CSE extended its rebound as the ASPI rose 3.79% (797.62 pts) to 21,868.85, with market value gaining Rs.284.1 billion in the session and recouping about 48% of the Rs.1.1 trillion loss since the Middle East conflict began. Commercial Bank, Hatton National Bank, Melstacorp, John Keells and Hayleys led gains; turnover topped Rs.6.4bn and foreigners were net sellers (Rs.525m).