News & market updates

Colombo stocks closed marginally down, with the ASPI falling 0.23% to 18,100 and the S&P SL20 down 0.22% to 5,347. Seylan Bank received in-principle CSE approval for a Rs15bn Basel III debenture issue, and Tal Lanka Hotels listed 32,228,524 ordinary voting shares after a private placement.

Brown & Company PLC reported FY25 consolidated revenue of Rs. 107.82 billion and PBT of Rs. 25.88 billion, with total assets of Rs. 752.69 billion. The Group completed major East Africa Lipton plantation acquisitions, took controlling stakes in Sierra Cables and Tea Smallholder Factories, and saw strong results across its plantations and hospitality units.

LOLC Group posted a PAT of Rs.41 billion for FY2024/25 (up 89%) and lifted total assets to Rs.2.03 trillion. LOLC Finance PLC recorded a pre-tax profit of Rs.30.8 billion with NPLs falling to 4.97%, while the group expanded plantation holdings and boosted hospitality and manufacturing contributions.

Colombo market closed the week higher as the ASPI rose 39 points to 16,855, led by gains in HAYL, CALH, COMB, NDB and RIL; total turnover was Rs. 5.2 billion and foreign investors recorded a net outflow of Rs. 441.6 million.

Colombo market rose with ASPI +0.6% and S&P SL20 +0.9% on turnover of Rs.6.4bn, led by Sampath Bank, LOLC, Hemas and Sierra Cables; foreigners were net sellers (Rs.218m outflow). Several firms made gains and interim dividends were announced (RIL, UML).

THE VIEWS, COMMENTS AND ADVICE OF THE BOARD OF DIRECTORS OF SIERRA CABLES PLC IN TERMS OF RULE 13(2) OF THE COMPANY TAKEOVERS AND MERGERS CODE OF 1995 (AS AMENDED) ON THE MANDATORY OFFER MADE BY BROWNS INVESTMENTS PLC TO THE SIIAREHOLDERS OF THE COMPANY TO PURCHASE 233,248,008 ORDINARY VOTING SHARES OF SIERRA CABLES PLC

Colombo Stock Exchange closed higher in a shortened session, with the ASPI up 45 points to 15,962 (S&P SL20 +0.22%). Turnover was about Rs.1.48–1.5 billion and foreign investors net sold Rs.177.3 million; key contributors included MELS, WIND, SPEN, SAMP and heavy turnover in CTC, BIL and KOTA.

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).

The ASPI gained 72 points (+0.5%) to 15,616 as the Colombo market bounced back, led by the capital goods sector. Turnover was about Rs.1.5 billion with net foreign inflows of Rs.35.2m; notable movers included Hemas, John Keells, Browns, Alumex and DFCC.

ANNOUNCEMENT UNDER THE COMPANY TAKE-OVERS AND MERGERS CODE 1995 (AS AMENDED IN 2003) AND GAZETTED IN THE GAZETTE EXTRAORDINARY NO. 875/9 DATED 16TH JUNE 1995 AND AMENDED BY GAZETTE NO. 1299/6 DATED 29TH JULY 2003 MANDATORY OFFER BY BROWNS INVESTMENTS PLC (TO PURCHASE 233,248,008 (43.40%) ORDINARY VOTING SHARES OF SIERRA CABLES PLC

Browns Investments (BIL.N0000) acquired a 26.16% stake in Sierra Cables (SIRA.N0000) for Rs.1.7 billion (140.6m shares at Rs.12.30), taking the Browns group’s combined holding to 56.59%. Sierra Cables closed at Rs.16 (up Rs.0.50) while Browns Investments closed at Rs.7.40 (down Rs.0.10).

ASPI rose 1.67% (256 pts) as turnover reached Rs.3.67bn, led by heavy Sierra Cables volume and buying in banking and diversified-financial stocks. Banking stocks and capital-goods names (notably Sierra Cables, John Keells, CDB, HNB) were key contributors.

Sri Lanka's ASPI rose 1.67% to 15,662.85, led by a banking-sector bounce that also lifted the S&P SL20 up 2.14% to 4,703.54. Turnover jumped to 3.67 billion rupees; top contributors included Commercial Bank, HNB, John Keells, Sampath Bank and DFCC, while Sierra Cables had the largest turnover.

Colombo market rebounded as ASPI rose 151 pts (0.96%) to 15,861 on turnover of Rs.24bn, led by banking and blue‑chip gains; top contributors included COMB, HNB, SAMP, HAYL and JKH while BOGA, JKH and SAMP led turnover.

Sri Lanka's ASPI rose 0.96% to 15,861.14 and the S&P SL20 gained 1.07% as turnover was Rs 2.42bn with a net foreign inflow of Rs 49m. Top contributors included Commercial Bank, HNB, Sampath Bank, Hayleys and John Keells.

Fitch affirmed Singer (Sri Lanka) PLC’s national long-term rating at 'AA-(lka)' with a Stable outlook. Fitch cited expected revenue growth of 18% in FY25, improved margins and lower borrowing costs, while noting about LKR70bn of group debt including LKR40bn at Singer Finance.

The ASPI rose 1.87% (about 296 pts) to 16,167 as the Colombo market staged a strong rebound and turnover doubled to Rs.5.18bn. The Banking sector led gains (Hatton, Nations Trust, National Development Bank, Sampath among top contributors) while capital goods and select stocks also saw heavy activity.

Colombo Stock Exchange closed down 0.70% to ASPI 17,074.02 on turnover Rs3.6bn, with a net foreign inflow of Rs307mn. Top turnover and movers included Dialog, Commercial Bank, Hemas, HNB and John Keells; LB Finance announced a Rs2.25 interim dividend.

Colombo market closed marginally higher with ASPI +0.2% and S&P SL20 +0.6% on turnover of Rs.5.5bn. Banking led turnover (30%) and gained 1.25%; notable moves included Sampath +Rs1, Commercial Bank +Rs2, Sierra Cables +Rs0.40, Lanka IOC +Rs0.50 and LOLC -Rs4, with net foreign outflow of Rs.93m.

Colombo Stock Exchange closed higher, with the ASPI up 0.22% at 17,193.79 and the S&P SL20 up 0.63% at 5,139.63. Investor interest centred on banks and capital goods (notably Sampath, Commercial Bank and Hemas); Melstacorp, Distilleries, Sampath and Teejay Lanka declared cash dividends and Hemas plans a share sub-division.

ASPI closed up 1.30% (219.36 pts) at 17,156.05, nearing its all-time high amid the 2025 budget presentation. Net foreign inflow of LKR 777m (highest in 2025) drove buying in Ceylinco Holdings, Browns Investments and activity in NDB, Sampath, Hayleys, Sierra Cables and Jetwing Symphony.

Sri Lanka's ASPI closed up 2.18% (362.03 pts) at 16,940.25, led by gains in diversified counters and bank stocks; the S&P SL20 rose 1.88% to 5,037.52, turnover was 4.8 billion rupees and net foreign outflow was 513 million rupees.

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.

Sri Lanka's ASPI closed up 1.42% at 16,578.22, led by banks and finance stocks, with a net foreign outflow of 892 million rupees. Top contributors included Ceylinco (+9.3%), Central Finance (+6.0%), Sampath (+2.1%) and NDB (+2.4%), while Ambeon saw heavy foreign selling.