News & market updates

Colombo Stock Exchange indices were trading higher midday, the ASPI up 0.36% (76.41 pts) at 21,205.62 and the S&P SL20 up 0.38% at 5,962.29; market turnover was Rs 314 million, with banks leading at Rs 122.7 million. Asia Asset Finance said 41,398,511 preference shares will be deemed converted into 53,348,596 ordinary shares at Rs 7.76 each effective Aug 10 (pref shares trade ends Aug 6; ordinary shares from Sep 16).

SLT Group CEO Riyaaz Rasheed warned that Sri Lankan corporates and government bodies underinvest in cybersecurity and urged earlier spending as AI-driven 'agentic' threats rise. He also flagged semiconductor shortages, energy costs and talent shortfalls as constraints on telecom investment.

Sri Lanka Telecom Plc (SLT-MOBITEL) will be a founding member and infrastructure partner for the proposed National AI Institute, providing shared AI infrastructure to support research, innovation and national digital transformation.

Dialog Axiata (DIAL.N0000) launched Dialog Air Fibre, the country's first 5G-powered wireless home broadband with plans: 100GB Rs.2,795; 200GB Rs.3,795; 300GB Rs.5,495. The service runs on Dialog's 5G network (over 1,000 sites), offers up to six hours battery backup and 48-hour installation with refund if standards aren't met.

First Capital Research: aggregate earnings of 271 listed companies fell 11.4% YoY in the March 2026 quarter (third straight quarter), but underlying earnings rose 30.1% YoY after adjusting for major one-offs. Food, Beverage & Tobacco dragged the aggregate result while retailing and telecom posted strong gains (e.g. UML, DIAL, SLTL, SINS).

Colombo Stock Exchange ASPI rose 1.68% (up 357.08 pts) to 21,627.10, with the S&P SL20 up 1.55% as banks supported gains. Market turnover was Rs.666m led by real estate; Colombo Fort Investments and Colombo Investment Trust listed scrip-dividend shares effective June 12, 2026.

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Sri Lanka Telecom PLC reported 1Q2026 consolidated revenue of Rs.30.8bn (up 10.6% YoY) and PAT of Rs.3.1bn (up 53.3%), driven by broadband demand; SLT PLC standalone revenue was Rs.19.7bn with PAT of Rs.2.1bn, supported by cost efficiencies and FX gains.

Dialog Axiata PLC expanded its 5G network to over 800 live sites across 24 districts, marking the fastest 5G rollout in Sri Lanka. The move builds on an earlier commercial launch (220+ sites, 1.5M+ subscribers) and includes new-district coverage and 5G Experience Zones at Iconic, WTC and Kandy.

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Dialog Axiata (DIAL.N0000) signed an agreement with Ericsson to deploy 5G RAN nationwide, supplying 3.5 GHz Massive MIMO radios, Ericsson 5G Advanced software and cloud-native infrastructure to expand coverage and enterprise services. Dialog currently operates Sri Lanka's largest 5G network with over 1.5 million subscribers.

Dialog Axiata (DIAL.N0000) signed an agreement with Ericsson to deploy 5G RAN on the 3.5 GHz band, supplying Massive MIMO AIR 3219, 5G Advanced software and cloud-native infrastructure to expand nationwide 5G coverage and enterprise services. Ericsson will provide rollout, integration and optimization support.

SLT Group PAT surged 221% to Rs. 10.0 billion in FY2025, driven by cost savings, lower finance costs and steady revenue growth. SLT PLC posted PAT of Rs. 6.2 billion and Mobitel Rs. 3.1 billion as the group expanded fibre, data services and rolled out 5G.

GovPAY traffic fine payment system was rolled out countrywide on 3 Feb 2026, collecting over Rs.115 million across more than 86,000 digital transactions since inception. Motorists can pay via leading banks, fintechs and over 55,000 Dialog eZ Cash agents, with rollout supported by ICTA, LankaPay and Sri Lanka Telecom.

The GovPay digital traffic fine payment system was rolled out nationwide on 3 Feb 2026, enabling over LKR 115 million in digital collections and more than 86,000 successful transactions; payments are accepted via banks, fintech apps and over 55,000 Dialog eZ Cash agents.

ASPI closed at an all-time high of 23,806.32, up 0.77% (182.58 pts) on turnover above Rs.9.8bn. Gains were led by Hayleys, Colombo Dockyard and Sampath Bank, with the capital goods and banking sectors among the top contributors.

Colombo Dockyard drove turnover and traded higher after India’s Mazagon Dock bought a 41.73% stake; the ASPI rose 0.76% to 23,803 with market turnover Rs9.81bn, of which DOCK accounted for Rs2.65bn.

Colombo market rose for a ninth straight session as the ASPI gained 1.21% to 23,292.91, with market turnover about Rs. 6.6bn; banking counters led activity and top positive contributors included HNB, COMB, JKH, NDB and SAMP.

EDOTCO Sri Lanka commissioned its first independently owned neutral-host telecommunications tower in Kahagalla, Kegalle after receiving an Infrastructure Provider License, enabling MNOs to use passive infrastructure to improve coverage and rollout. MNOs such as Dialog and Sri Lanka Telecom are expected to benefit from faster, cost-efficient deployments in underserved areas.

EDOTCO Sri Lanka has commissioned 400 resilient power systems (USD 1.7m) to strengthen telecom network reliability, supporting Dialog, Hutch and Mobitel, and plans to scale to 1,000 sites by mid-2026 (approx LKR 1.2bn). The rollout aims to ensure service continuity during disasters after Cyclone Ditwah disrupted thousands of sites.

Dialog Axiata PLC and Sri Lanka Telecom (Mobitel) formally received 5G spectrum licenses from TRCSL; Dialog was assigned 100 MHz in 3400–3500 MHz and 200 MHz in 27,200–27,400 MHz, and Sri Lanka Telecom received 100 MHz in 3500–3600 MHz.

Dialog Axiata PLC and SLT-Mobitel (unit of Sri Lanka Telecom PLC) won 5G spectrum licences in an auction that raised about Rs. 10 billion. Licences cover the 3.5 GHz and 27 GHz bands and were issued for a 10-year period.

Dialog Axiata (DIAL.N0000) partnered with Starlink to deliver high-speed, low-latency satellite internet across Sri Lanka for enterprises and underserved areas. Dialog will act as an authorised Starlink agent and offer services via its corporate channels with installation and support.

Dialog Axiata (DIAL.N0000) commercially launched Dialog 5G Ultra, operating over 220 live sites and connecting more than 1.5 million subscribers after securing 3500 MHz and 27 GHz spectrum, and pledged $100m of investment over the next two years. The rollout also includes 5G roaming partnerships across 76 countries.

Dialog Axiata PLC commercially launched Dialog 5G Ultra, powering over 220 live 5G sites and connecting more than 1.5 million subscribers. It secured 3500 MHz and 27 GHz spectrum blocks and plans to invest USD 100 million over the next two years to expand 5G coverage.

Dialog Axiata (DIAL.N0000) and Sri Lanka Telecom/SLT‑Mobitel (SLTL.N0000) are carrying out 24/7 recovery work after Cyclone Ditwah damaged backbone fibre and caused widespread outages; operators extended free mobile connectivity until 2 Dec and are prioritising backbone repairs with partners including Huawei.

Dialog Axiata (DIAL.N0000) and Sri Lanka Telecom (SLTL.N0000) are conducting round-the-clock repairs to backbone fibre and power installations after Cyclone Ditwah caused widespread network outages. Operators extended free mobile connectivity until Dec 2 and partners including Huawei have mobilised engineers to support recovery.

Sri Lanka Telecom Plc (SLTL.N0000) posted 9M PAT of Rs. 4.1 billion, up 238% YoY (group 9M PAT Rs. 6.5 billion), driven by higher operating profit and lower finance costs. 3Q company PAT rose to Rs. 1.4 billion with improved margins and cost optimisation.