News & market updates

Hatton National Bank saw a 9.99% stake divestment (45.9m shares) by Browns Investments via nine off‑board trades at Rs.305, driving turnover to Rs.18.7bn and lifting the ASPI ~1%. Banking counters led gains and accounted for 81% of turnover, with broad buying across banks and select FMCG names.

LOLC Finance PLC reported PAT of Rs.25.0 billion for the year ended 31 Mar 2025 (up from Rs.21.5b), with a loan portfolio >Rs.305b, deposits >Rs.225b and net NPL at 4.97%.

Brown & Company PLC (BRWN.N0000) celebrates its 150th anniversary, highlighting its status as a diversified conglomerate and the world’s largest tea producer/exporter with investments in renewables and the Colombo Port City marina; the company is presented as part of the LOLC group.

The Colombo market paused its upward run as the ASPI fell 0.37% and the S&P SL20 dropped 0.5%, while foreigners recorded a net inflow of Rs.170 million. Turnover was Rs.1.5 billion with top contributors John Keells, Commercial Bank and Hayleys and the banking sector leading activity.

Colombo Stock Exchange fell 0.37% as profit taking and concern over a proposed 18.3% electricity tariff hike weighed on markets, with the ASPI down 61.43 points to 16,336.25 and banking names notably weaker; turnover slipped to 1.5 billion rupees.

Colombo bourse closed the shortened week with the ASPI up 2.9% and S&P SL20 up 3.5%, average daily turnover Rs.3.67bn, led by gains in JKH, LOLC, CARS, EBCR and SAMP; foreigners recorded a net inflow of Rs.157.2m.

Colombo Stock Exchange rose 0.40% as the US-China tariff truce lifted sentiment; ASPI gained 64.40 points to 16,379.39, led by gains in John Keells, LOLC, Carson Cumberbatch, E B Creasy and Sampath Bank.

ASPI rose 183.55 points (1.14%) to 16,314.79 as CSE turnover hit Rs.4.55 billion with over 180 million shares traded. Lanka Realty led activity (Rs.467m); JKH, LOLC and Commercial Bank saw heavy trading; Melstacorp, Sampath, Commercial Bank, Hayleys and Aitken Spence helped drive gains while several counters including Dipped Products, Ceylon Grain Elevators, Industrial Asphalts and NDB fell.

Browns Investments PLC (BIL) acquired FLMC Plantations Ltd. from Damro and Piyestra for Rs. 4.8 billion under a share sale and purchase agreement. FLMC holds Pussellawa Plantations (11,500 ha across 24 estates producing ~4.3m kg made tea and ~2.3m kg rubber) and Melfort Green Teas, boosting the group's tea capacity to ~17.5m kg.

LOLC Holdings PLC has entered a strategic partnership with Australia’s Tomorrow Financial Solutions (TFS) and opened a new TFS office at LOLC premises, marking LOLC’s official entry into the Australian financial market. The alliance includes LOLC capital support and targets mortgage broking, financial planning and lending services.

LOLC Finance opened a new branch in Badalkumbura (the first NBFI there) and relocated its Hakmana branch, taking its network to over 200 branches. The new outlets will offer savings, loans, leasing, card facilities and gold loans to improve financial access in underserved areas.

Colombo Bourse closed the week higher, with the ASPI up ~2% and finishing at 15,742 after a 126-point gain on Friday. Market gains were led by LOLC, RCL, NDB, SUN and MELS, with Friday turnover at Rs.2.4bn (Capital Goods, Food & Beverage and Diversified Financials leading) while foreigners were net sellers (Rs.103.6m).

Colombo stocks rose 0.81% as exporters rallied on expectations of a US–Sri Lanka trade deal, with the ASPI closing at 15,742.04 (up 126.41 pts). Key contributors included Teejay Lanka, Hayleys Fabric, Haycarb, Dipped Products, LOLC and Royal Ceramics, while selected banks (Sampath, HNB, Amana) fell.

A 90-day US tariff pause lifted the Colombo market: ASPI +4.74% and S&P SL20 +6.7%, boosting market capitalisation by about Rs.221bn to Rs.5.549tn on Rs.7bn turnover, led by heavy trading in Sampath Bank, John Keells, Commercial Bank and RIL Property.

Verdant Capital's Hybrid Fund injected an additional $4.5m into LOLC Africa Singapore, bringing Verdant's total investment in the pan-African microfinance operator to $13.5m to support expansion of lending across ten African countries. This follows an initial $9m commitment made in June 2023.

Verdant Capital's Hybrid Fund invested an additional $4.5m in LOLC Africa, bringing its total investment to $13.5m to expand MSME lending across 10 African countries. The holding-company loans will fund operating lending subsidiaries and include technical assistance for social ratings and client protection.

Brown & Company PLC opened a new 200,000 sq ft manufacturing and warehouse facility in Katunayake to boost its logistics and supply-chain capabilities. The hub, sited minutes from Bandaranaike International Airport, was inaugurated with participation from LOLC executives.

Colombo stocks fell after the US 'Liberation day' tariff announcement, with the ASPI down 1.82% (284.25 pts) to 15,373.35 and the S&P SL20 down 2.19% to 4,541.71. Banks and export-linked stocks led losses, with top negative contributors including Sampath Bank, Commercial Bank, John Keells, HNB and LOLC and turnover sliding to 3.17 billion rupees.

Sri Lanka stocks plunged for a second day as the ASPI fell 362.66 pts (2.32%) to 15,294.94 and the S&P SL20 fell 125.95 pts (2.71%) to 4,517.37 after a US executive order imposing a 44% tax on Sri Lanka. Major banks and exporters including Commercial Bank, Sampath, HNB, LOLC, John Keells, Teejay Lanka, Hela Apparel, Haycarb and Dipped Products dropped roughly 0.2–5.6%.

John Keells Holdings (JKH) sold its 37.62% stake in Tea Smallholder Factories PLC to a LOLC subsidiary for Rs 395 million (11,286,000 shares at Rs 35 each). Udapussellawa Plantations PLC, a LOLC subsidiary, acquired 11,276,839 of those shares.

Sri Lanka's ASPI rose 0.76% to 15,934.38 as buying interest returned, but turnover remained light at 1.91 billion rupees. Top contributors included Melstacorp, Hayleys, HNB, NDB and LOLC, with banks, capital goods and diversified financials leading turnover.

LOLC Holdings (LOLC.N0000) was named the SLIM Kantar People’s Financial Services Brand of the Year for the ninth consecutive year. The award, based on independent Kantar consumer research, underscores LOLC's strong customer connection, digital transformation and brand leadership across its finance and insurance businesses.

Colombo market closed higher — ASPI +12 points, S&P SL20 +19 with turnover of Rs.1.25bn. Major contributors included Commercial Bank, HNB, Melstacorp, NDB and Sampath while John Keells, Hemas, Browns, LOLC and Ceylon Cold Stores were among laggards; foreigners were net buyers of Rs.14.2m.

LOLC Holdings PLC appointed Kanthimany Sivanesan as an Independent Director, filling the vacancy left by the retirement of non‑executive director M.D.D. Pieris. Sivanesan is Partner – Head of Tax at Amerasekera & Co. with over 20 years' experience in taxation.

LOLC Holdings' subsidiary LOLC Life Assurance will offer in March 2025 an additional 50% cover (up to Rs.1,000,000) for female-specific critical illnesses on policies with a minimum Rs.1,000,000 sum assured. The initiative also includes a Rs.25,000 cash reward for policyholders who give birth in March if their policy was obtained by 31 Dec 2024 and remains active.

LOLC Holdings PLC will join the FTSE Frontier 50 Index effective 24 March. The inclusion should increase the company's visibility to global institutional investors and may improve market liquidity for its shares.

Colombo market opened lower as the ASPI fell 0.71% (115 points) and the S&P SL20 dropped 0.69% amid low turnover of Rs. 824.6 million, with banks and blue-chip counters leading the decline.

Crayon held its Partner Summit 2025 in Sri Lanka to promote ISV innovation, co-selling frameworks and AI/data solutions; speakers included LOLC Technologies Deputy CEO Prasanna Siriwardena and Microsoft Sri Lanka representatives.

The ASPI rose 0.5% to 16,431 on low turnover of Rs.1.6 billion as bargain buying and month‑end flows supported a symbolic rebound; CINS, LOLC and COMB were top positive contributors while MELS and CFVF were among the main detractors.