News & market updates

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.

Colombo market closed the week higher as ASPI and S&P SL20 rose about 2% (ASPI 16,937, +358 pts) with turnover Rs.5 billion, led by banks, capital goods and food & beverage stocks ahead of the 2025 Budget.

ASPI rose ~232 points (1.41%) to 16,578 as the Colombo market returned to positive territory with turnover of Rs.3.58bn. Ceylinco, Central Finance, Sampath, LOLC and NDB were top positive contributors while CTC, HNB and SPEN weighed on the index; Ambeon, JKH and Printcare also gained.

Colombo's ASPI rose 7.4% in January, with yesterday's turnover at Rs.5.1bn and foreign net selling of Rs.405.6m. Price gains in counters including Central Finance, Colombo Fort Land & Building, Ambeon Holdings, Teejay Lanka and Ambeon Capital and activity in Access Engineering and John Keells supported the market recovery.

Colombo market rose with the ASPI up 0.8% on turnover of Rs. 6 billion, led by heavy trading in John Keells, Lanka IOC, HNB, Alumex and Browns and a net foreign outflow of Rs. 492.4 million. JKH fell to Rs. 23.10, HNB rose to Rs. 350.25, LIOC to Rs. 142.25, Alumex to Rs. 15.90 and Browns to Rs. 8.50.

Sri Lanka's ASPI rose 0.75% to 17,044.67, led by gains in capital goods and power/energy with top contributors including Lanka IOC, Melstacorp and Bukit Darah. Turnover was 5.9 billion rupees, with a net domestic inflow of 492 million and a net foreign outflow of 492 million rupees.

Hela Apparel Holdings celebrated over 100 graduates at an NIBM certificate ceremony for its Hela Diridaruwo (IT and English), Hela Diriliya (Techno Entrepreneurship) and RISE training programs, held in partnership with NIBM and partners including Tesco and Berendina.

NDB Investment Bank (part of the NDB Group) was named Euromoney's 'Best Investment Bank in Sri Lanka' for the 13th consecutive year. The release notes NDBIB's recent role arranging a USD 14m debt raise for Hela Apparel and advising on IPOs including UB Finance and Cargills Bank.

NDB Investment Bank (part of the NDB Group) was named 'Best Investment Bank in Sri Lanka' by Euromoney for the 13th consecutive year. The release notes NDBIB's 2023 transactions, including arranging $14m debt for Hela Apparel and advising on IPOs for UB Finance and Cargills Bank.

Bank-led rally lifted the ASPI 0.66% as the banking sector drove 63% of turnover with top contributors including Sampath Bank, Hatton National Bank, Richard Pieris, Dipped Products and DFCC. Turnover was Rs.3.6bn and there was a net foreign outflow of Rs.119.7m.

Colombo market fell with the ASPI down 1% and S&P SL20 down 1.5% on Rs.7.04bn turnover and a net foreign outflow of Rs.211.6m. Banks led turnover (65%) with DFCC and CDB among gainers while JKH, Commercial Bank, Sampath and Browns were top negative contributors.

Rights issue · 8:33 at Rs 5.00 · XD Aug 27, 2024

Hela Apparel Holdings PLC returned to operating profit in Q2 ended 30 Sep, reporting an operating profit of Rs.557 million and revenue up 36.5% y/y to Rs.23.4 billion. The turnaround was driven by its new Brand Licensing Division after the Focus Brands acquisition, gross profit up 222.9% to Rs.4.5 billion, and a rights issue raising ~Rs.1.6 billion.

Hela Apparel Holdings (HELA.N0000) returned to operating profit in Q2 ended 30 Sept, reporting an operating profit of Rs. 557 million on revenue of Rs. 23.4 billion (up 36.5% YoY). Gross profit rose to Rs. 4.5 billion and the company completed an oversubscribed rights issue raising ~Rs. 1.6 billion.

ASPI rose 0.7% to 12,610 (a 32-month high) as turnover hit Rs.4.4bn, led by the banking sector which contributed 36% of turnover. HNB, Sampath, NDB, LOLC, Browns and MELS were top contributors while JKH fell modestly and foreigners were net sellers of Rs.12.2m.

ASPI fell 9 points to 12,300 with turnover of Rs.19.3 billion; John Keells Holdings (JKH.N0000) led turnover (Rs.676m), had rights converted to ordinary shares and rose to Rs.199.

Hela Apparel Holdings (HELA.N0000) announced an exclusive long-term partnership with Authentic Brands Group to design, manufacture and sell Reebok-branded outerwear across the UK and Europe. Focus Brands will serve as Reebok’s exclusive brand management partner for the category, with products sold via retailers and e-commerce.

Hela Apparel Holdings (HELA.N0000) announced an exclusive long-term partnership with Authentic Brands Group to design, manufacture and sell Reebok-branded outerwear across the UK and Europe. Focus Brands will serve as Reebok’s exclusive brand management partner in the region, supplying jackets, soft shells, fleeces and padded jackets via retailers, department stores and e-commerce.

ASPI closed down 4 points at 12,309 while S&P SL20 rose 2 points, with turnover of Rs.1.5 billion and foreign investors net selling Rs.109.4 million. ACL, UAL and HELA were among gainers while CFIN, LMF, LIOC, HAYL, RCL and SPEN were notable losers; Capital Goods led turnover.

Hela Apparel Holdings PLC completed a rights issue raising Rs. 1,596,826,135 through 319,365,227 ordinary shares, with the issue oversubscribed. The proceeds will be used to settle part of the Group's bank borrowings and strengthen the balance sheet as the first phase of its capital augmentation strategy.

Colombo market was mixed as the ASPI rose 0.09% to 12,258 while the S&P SL20 fell 0.20%; turnover was about Rs.1.85–1.9 billion and foreigners were net buyers of Rs.139.7 million, led by net foreign buying in John Keells (Rs.240.9m) and net selling in Dialog.

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.

Hela Apparel Holdings PLC completed a rights issue raising LKR 1,596,826,135 via 319,365,227 ordinary voting shares. The proceeds, from an oversubscribed issue, will be used in part to settle group bank borrowings and strengthen the balance sheet.

Colombo's ASPI fell 4 points to 11,930 as the market stayed bearish, with S&P SL20 down 26 points (0.7%), turnover Rs.1.3bn and net foreign outflow of Rs.18m. Major negatives were HNB, SAMP, COMB, HAYL and JKH while CINS and PKME (PickMe) were among gainers; Commercial Credit and Lankem also rose.

Colombo market cooled after 11 straight gains as the ASPI fell about 59 points (0.5%) on turnover of Rs.2.3bn, with banks contributing 59% of turnover. Sampath, Commercial and Hatton National rose, while Vallibel One and Nations Trust fell; JKH, LOLC, NDB, Hayleys and DFCC weighed on the index.