News & market updates

Sierra Cables PLC reported FY2025/26 revenue of LKR 16 billion and net profit of LKR 2.7 billion, up 73% and 194% year‑on‑year respectively. Export revenue rose 345% to LKR 5.0 billion (31% of group revenue) with expansion into the US market.

ISO has published a Chinese-developed standard for corrosion testing of conducting alloys in AC conditions and IEC approved a Chinese-led offshore wind standard; the measures aim to improve conductor lifespan and could cut maintenance/operational costs by over 10%.

John Keells Holdings chair Krishan Balendra will lead a 19-member Sri Lankan corporate delegation to Mumbai for the India–Sri Lanka Business Forum on 13 May to engage Indian counterparts on trade, investment and partnerships. Sri Lanka and India have also discussed a proposed $450m post-conflict reconstruction package.

The Ceylon Chamber will lead a senior corporate delegation to Mumbai for the India–Sri Lanka Business Forum on 13 May 2026, with leaders from John Keells, Aitken Spence, Hayleys, Sierra Cables and Vidullanka among participants to engage Indian investors on trade and investment opportunities.

ASPI rose 0.65% (145.47 pts) to 22,695.00 while the S&P SL20 gained 0.6% to 6,244.64. Market turnover exceeded Rs. 4.8bn with Ceylon Tobacco Company dominating turnover (Rs. 2.4bn) even as foreign investors were net sellers, extending YTD foreign outflows to Rs. 27.6bn.

Colombo Stock Exchange closed higher Monday with the ASPI up 0.65% at 22,695.00 and turnover of 4.81 billion rupees, driven by buying in banking counters. Top contributors included NDB, Dialog, Melstacorp and Colombo Dockyard, while Ceylinco Insurance and Windforce were among decliners.

Colombo Stock Exchange closed flat as the ASPI rose 0.03% to 22,620.15. Top positive contributors were Commercial Bank, John Keells and ACL Cables while DFCC and Central Finance lagged; Janashakthi (JXG) is set to start trading on April 29 with 2.3 billion shares.

The EPF's listed equity portfolio rose 27% to Rs. 188.85 billion at end-2025. The fund cut holdings from 65 to 59, fully exited six counters (Cargills Bank, Ceylon Hotels, Colombo Dockyard, Jetwing Symphony, LAUGFS Gas, Sierra Cables) and added Hemas (40m shares); gains were led by banks and diversified stocks.

EPF fully exited holdings in six CSE-listed companies in 2025 — Cargills Bank, Ceylon Hotels, Colombo Dockyard, Jetwing Symphony, LAUGFS Gas and Sierra Cables — and made one new investment, buying 40 million shares in Hemas Holdings; its listed equity count fell from 65 to 59.

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.

Sierra Cables PLC won two major 2025 NCE Export Awards — Gold in the Large Category (Electronic & Electrical Products) and Best Sri Lankan Brand Exporter. The company highlights its unique UL 44 certification (only Sri Lankan cable maker certified) and expanded international footprint enabling access to regulated markets including the US.

Sierra Cables PLC posted nine-month revenue of Rs. 12 billion (up 68% y/y) and profit for the period of Rs. 2.1 billion (up 105%), with EPS rising to Rs. 3.88. The company, now a 2025 subsidiary of Browns Investments, expanded exports, earned UL 44 certification and retained a Fitch A+ (lka) rating.

The Colombo market ended marginally higher — ASPI +0.02% to 23,655.68 — on turnover of Rs.3.35 billion with foreign net outflows of Rs.64 million. Top positive contributors included NHL, CFIN, CARG, JKH and LLUB, while Samson International, UB Finance and Sierra Cables led turnover.

Colombo stock market ended the week up as the ASPI rose 0.14% to 23,801.96 while year-to-date net foreign selling approached Rs. 11.8 billion. Turnover was nearly Rs. 9.1 billion, led by banks and large crossings (notably Commercial Bank) with gains in ACME, JKH, Sampath, HNB, KZOO, Colombo Dockyard and Teejay.

CSE ended flat for a second straight session: ASPI down 0.71 pts to 23,607.80 and S&P SL20 down 0.12% to 6,494.76. Top negatives included JKH, DOCK, DFCC, SFCL and HHL while Sierra Cables, Commercial Bank, CDB and RIL recorded gains; turnover ~Rs.4.9bn and foreign net inflow Rs.22m.

Merchant Bank of Sri Lanka & Finance PLC (MBSL) recalibrated the MBSL Midcap Index effective 1 January 2026, setting the midcap market-cap range at Rs. 8.45 billion–Rs. 84.5 billion and selecting 25 constituents. New inclusions include Sierra Cables, Aitken Spence, Vallibel Finance, Lanka IOC, JAT Holdings and Prime Lands; Citizens Development, CIC, Ceylon Grain Elevators, John Keells, Hayleys Fabric, Teejay Lanka and Watawala Plantations were excluded.

Sri Lanka's Colombo Stock Exchange rose on the first trading day of 2026, with the All Share Price Index up 1.26% to 22,910.46 and the S&P SL20 up 0.63% to 6,195.95 on turnover of 5.1 billion rupees. Top contributors included ACL Cables, Commercial Bank, Access Engineering and DFCC Bank, with construction and bank shares drawing investor interest as reconstruction followed Cyclone Ditwah.

Colombo Stock Exchange closed Friday with the ASPI up 0.50% (109.79 pts) to 22,068.84, re-entering the 22,000 mark. Turnover was over Rs.2.7bn, foreign investors were net buyers (Rs.18.9m), with banking counters and names like DOCK and RICH among top contributors.

Colombo Dockyard led gains as the ASPI rose 0.13% to 21,927.00, with Dockyard up to Rs127.00. Other contributors included Sampath Bank, John Keells, Tokyo Cement and Sierra Cables; turnover fell to Rs2.5bn and the CSE recorded a net foreign outflow of Rs68.58m.

Colombo stock market rose for a third straight session, gaining Rs.119.7 billion as the ASPI climbed 1.76% to 22,422.43; capital goods and materials led turnover, with JKH down to Rs.20.90 while DOCK, SIRA and AEL advanced.

Speculative trading in Colombo Dockyard lifted the Colombo Stock Exchange—ASPI rose 1.90% to 22,452.22 while Colombo Dockyard gained 43 rupees to 217. Momentum spread into banks and construction, with higher turnover of 6.2 billion rupees and several active stocks advancing.

Colombo Stock Exchange regained nearly 40% of last week's Rs. 424 billion loss as the ASPI rose 2.04% (439.46 pts) to 22,034.32. Top contributors included DOCK, CINS, COMB, SAMP and ACL, with turnover around Rs. 3.88 billion.

Colombo Stock Exchange ASPI fell 1.87% to 21,826.59 and the S&P SL20 dropped 1.75% to 6,030.66. Top decliners included Ceylinco Holdings, Melstacorp, Commercial Bank, Senkadagala Finance and Bukit Darah; construction names Access Engineering and Sierra Cables also slid, and Hemas appointed Ajith Fernando as chairman effective Jan 1.

Colombo market recouped 30% of Monday’s Rs.240 billion wipe-off as the ASPI rose 1% (219 points), restoring about Rs.72 billion of market cap; top contributors included RICH, CINS, SAMP, BUKI and NDB while capital goods and materials led turnover.

Colombo Stock Exchange recovered as the ASPI rose 1% (219.51 pts) to 22,241.57, led by gains in diversified financials and construction-related shares, with notable rises in Ceylinco, Sampath, NDB, Bukit Darah, Sierra Cables and ACL Cables.

Sierra Cables (SIRA.N0000) reported 1H revenue up 80% to Rs. 7.51bn and net profit up 130% to Rs. 1.37bn. The company affirmed an A+ national rating, is expanding exports (notably to the US), increasing capacity and targeting renewable-energy and construction-grade product lines.

Eng. Prof. Ananda Jayawardane has been appointed by the Finance Ministry as an Independent Non‑Executive Director on the Bank of Ceylon board. He completed his term as Chairman of Commercial Bank in April 2024 and currently serves as a director of Prime Lands Residencies and HNB Assurance, with past links to Sierra Cables and NDB.

Colombo market recovered from early losses to finish the week essentially flat, with the ASPI down 0.01% at 23,459.75 and the S&P SL20 down 0.34% at 6,435.93. Market turnover was over Rs. 5.6 billion, foreigners were net sellers (~Rs. 5.9m), and heavy activity was led by banking, capital goods and food sectors.

Sri Lanka's ASPI rose 0.34% to 23,582.16, led by bluechips and banking shares; top contributors included DIAL.N0000, DFCC.N0000, AEL.N0000, HNB.N0000, SIRA.N0000 and JKH.N0000, with John Keells reporting a Sept quarter net profit up 21% to LKR 1.65bn.