News & market updates

HNB General Insurance appointed Lakshman Silva as Non-Executive/Nominee Director and Sandra De Zoysa as Independent/Non-Executive Director to its board. The appointments are intended to strengthen governance and drive digital/CX transformation as the insurer scales its platforms and customer service architecture.

CSE ended an eight-session slide as the ASPI rose 0.31% to 21,765.56 and the S&P SL20 gained 0.25% to 6,081.43. Turnover topped Rs.2bn with foreign net outflows of Rs.673mn; top contributors included Ceylon Cold Stores, Haycarb, John Keells and RIL, while banks (Commercial Bank, Sampath) led turnover.

The ASPI edged up 0.01% to 22,256.49 with turnover above Rs.1.56bn and foreign investors net-selling Rs.225mn. Hemas, NDB and Hayleys Fibre were top turnover contributors (Hemas and Hayleys up, Panasian Power down).

ASPI fell 0.4% (85.70 pts) to 21,461.47 as selling pressure reversed early gains; turnover was below Rs.1.7bn and foreign investors were net buyers of Rs.55.9m. Major negative contributors were C T Holdings, Melstacorp, Ambeon, Access Engineering and Central Finance, while John Keells, Chevron Lubricants and Commercial Bank were top turnover names.

Panasian Power (PAP.N0000) connected its 5MW ground-mounted Baddegama solar plant to the national grid on Dec 30, with its subsidiary starting revenue generation and adding 5MWac/6.76MWp to the grid.

Panasian Power PLC connected a 5 MW (6.76 MWp DC) ground-mounted solar plant at Baddegama to the national grid on 30 December 2025 and has commenced revenue generation via a subsidiary. The plant is the final 5 MW unit under a batch of seven PPAs and the share price closed up Rs.0.40 at Rs.23.40.

Panasian Power (PAP.N0000) connected its 5MW ground-mounted Uda Aparakke solar plant to the Matara Grid Substation on Nov 17 and begins revenue generation, adding 5MWac/6.76MWp to the national grid. It is the sixth of seven 5MW projects the company has PPAs for with the Ceylon Electricity Board.

Panasian Power (PAP.N0000) connected a 5MWac (6.76MWp DC) ground-mounted solar plant at Uda Aparakke to the national grid, starting commercial revenue. It is the sixth 5MW plant under seven PPAs signed in Q3 2024, with one project still under development.

Energy Minister Kumara Jayakody warned that lobbying for higher feed-in tariffs would raise consumer bills, noting solar prices paid to new producers have fallen from 37 → 27 → 24 → 18 rupees. He cited 30% cheaper panels, a stronger rupee, competitive low bids (e.g. Vidullanka ~3.77 USc/kWh) and additional grid/BESS costs.

Panasian Power PLC connected a 5MW ground-mounted solar plant at Deegawapiya, Ampara, to the national grid on 17 October 2025, adding 5MWac/6.76MWp and commencing revenue generation. The project, operated via a Panasian Power subsidiary using Longi Bi-facial N-type 615 W modules, is the fifth 5MW plant connected under PPAs from Q3 2024.

Panasian Power (PAP) connected its 5MW ground-mounted Deegawapiya solar plant to the national grid and said revenue generation starts immediately; the commissioning adds 5MWac/6.76MWp and is the fifth of seven 5MW plants under PPAs with the Ceylon Electricity Board.

Colombo market rebounded as the ASPI rose 264 points (1.3%) and the S&P SL20 gained 1.2% on turnover of Rs.6.2bn. Banks and hotel counters led gains (COMB, SAMP, HNB, SPEN, DFCC), capital goods and utilities drove turnover, while foreigners were net sellers of Rs.270.8m.

Panasian Power PLC appointed Nilendra Weerasinghe as an Independent Non-Executive Director. He has over 15 years' experience in investment banking and corporate finance, currently serves as CFO and Strategy Officer at hSenid Business Solutions, and brings capital-markets and energy-sector transaction expertise.

Panasian Power (PAP.N0000) said its 5 MW ground-mounted solar plant in Galle is fully operational and connected to the national grid from 4 September. CEB transmission upgrades resolved earlier limits and this is the 4th of seven 5 MW projects under PPAs in 2024.

Panasian Power (PAP) completed and connected a 5 MW ground-mounted sun-tracking solar plant to the national grid on July 14 and expects commercial operations to start shortly. The plant, operated via a PAP subsidiary, uses Longi bi-facial N-type panels and is the group's third 5MW ground-mounted project.

Vidullanka PLC launched the Colombo Stock Exchange's first-ever listed Sukuk. The asset-backed, Shariah-compliant instrument creates a new financing route for renewable energy and infrastructure projects that could benefit other listed power companies.

ASPI fell 30 points to 17,997 as turnover hit Rs.7.63 billion, led by large crossings in LOLC Finance, L B Finance and Sampath Bank. Top turnover contributors included LOFC, JKH, Central Finance, Panasian Power and Sampath Bank, while foreign investors were net sellers of Rs.3.4bn.

The Colombo Bourse rebounded on Friday with the ASPI and S&P SL20 up 1.6% (ASPI closed at 17,088) though the ASPI fell 1.8% for the week. Banking led turnover (28%) and sector gains, with Ceylinco, Sampath, Hayleys, Commercial Bank, Panasian Power and East West among top contributors; foreigners were net sellers (Rs.42.3m).

Colombo bourse opened June higher as ASPI rose 0.74% (125 pts) and S&P SL20 gained 1%, with turnover Rs.5.8bn and foreigners net selling ~Rs.3bn. Top turnover leaders were Access Engineering, Capital Alliance, Panasian Power, Commercial Credit and Alpha Fire, with banks and capital-goods stocks driving the rally.

Panasian Power PLC commissioned two 5MW ground-mounted solar projects (total 5MWac / 6.24MWp) at the Anuradhapura and Maho substations on 17 May 2025; the subsidiary-operated plants are expected to connect to the CEB grid shortly and use bifacial N-type PV modules with trackers.

Colombo Bourse opened the week higher: ASPI +0.1% and S&P SL20 +0.3% with turnover Rs. 2.6bn, led by banking stocks (Pan Asia, Commercial Bank, Seylan, HNB) and gains in John Keells and C T Holdings.

ASPI rose 84.3 points (+0.5%) to 15,926 on low turnover of about Rs.1.7bn while foreigners were net sellers of Rs.35.1m; gains were led by counters including CINS, MELS, COMB and SPEN, with Food, Beverage & Tobacco and Banking driving activity.