A market brief each morning, plus company filings and news from across Sri Lanka's stock market. Filter by company, sector and theme, and use sentiment badges to quickly identify Positive or Negative news.
Cabinet approved a Rs.22.2 billion contract to China Petroleum Pipeline Engineering Co (US$40.84m + Rs8.5bn) to build a 92,000-cubic-metre aviation fuel storage complex at Muthurajawela, a pipeline to Bandaranaike Airport and upgrades to the existing terminal.
National inflation (NCPI) accelerated to 8.1% YoY in August 2026, up from 7.2% in July, with the index at 223.9 (MoM +0.26%). The rise was led by non-food items-notably Transport (petrol contributed 1.14 percentage points) and Housing-while food inflation also jumped, driven by fresh and dried fish, green chillies and onions.
Vidullanka PLC-led consortium emerged as the lowest-cost bidder (approx. Rs. 5 billion) for the construction of a 132 kV transmission line under a JICA-funded programme; the contract award remains subject to technical evaluations and formal issuance of the Letter of Award.
IMF staff concluded its mission and cautioned that recently tabled amendments could weaken Sri Lanka's anti‑corruption framework and transparency. The IMF urged maintaining the 5% inflation target, stronger revenue administration, greater exchange‑rate flexibility, and energy cost‑recovery pricing.
Fitch says global growth remains resilient and has raised its 2026 GDP forecast to 2.6%, but real policy interest rates are rising as central banks tighten; Fitch expects the Fed to raise rates in December and hold them at 4.25% next year, while energy price shocks are influencing the outlook.
Vidullanka PLC, in a consortium with India's Skipper Limited, emerged as the lowest bidder for a JICA-funded LKR 5.0 billion 132 kV transmission line project in Sri Lanka. The 18-month contract would see Vidullanka lead local execution and project management, marking its entry into high-voltage transmission construction pending technical clearance and an LOA.
Resus Energy PLC commissioned a 2MW solar plant at Damana, Ampara and began commercial operations on 18 September 2026; the plant, developed by wholly-owned Resus Eastern Solar Ltd, is expected to supply ~3.5 GWh/year to the national grid. It expands the group's renewable energy portfolio.
Frontier Research said rising global bond yields and major central-bank tightening are making it harder for Sri Lanka to attract capital, with the US 10-year at 5.04%, UK 10-year at 5.378% and Japan 10-year at 3%. Domestically, inflation hit 8% in August, the current account is in deficit and the CBSL's next policy decision is due at month-end after a May hike to 8.75%.
Global equities rose (MSCI All-World +1.03%) as technology shares climbed on surging AI infrastructure demand while oil futures eased (US crude down 4.8% to $95.49/bbl); bond yields fell modestly even as markets price further central bank rate hikes.
Resus Energy PLC has commissioned a solar power plant in Damana, Ampara developed by its wholly owned subsidiary Resus Eastern Solar (Pvt) Ltd, expected to generate about 3.5 GWh of electricity annually to Sri Lanka's national grid. The facility expands the Group's renewable energy portfolio.
Energy Minister Anura Karunathilaka told Parliament Sri Lanka cannot legally subsidize the state Ceylon Petroleum Corporation alone or impose a maximum retail price because 2022 agreements require equal treatment of private importers such as Lanka IOC. The contracts entitle operators to a 4% margin and any price cap below costs would force the Treasury to cover deficits.
Technology stocks lifted Asian markets (MSCI Asia‑Pacific ex‑Japan rose over 1%), Brent crude steadied at $100.22/bbl and the dollar firmed as investors priced in further US interest‑rate hikes.
Oil prices rose for the first time in five sessions ahead of potential US‑Iran talks, with Brent November up $1.14 to $101.48/b and the more-active WTI November at $93.22/b. Supply drivers cited include increased shipments through the Strait of Hormuz and a Libyan Sharara outage cutting ~200,000 bpd.
The Ceylon Chamber of Commerce met the IMF's 7th Review Mission urging stronger support for SMEs, accelerated digitalisation and policies to attract investment, and recommended fast-tracking renewable energy to the grid, easing logistics and measures to boost exports.
The IEA forecasts global coal demand will rise 1.2% to a record 8.94 billion tonnes in 2026, driven by higher natural gas prices after reduced LNG flows through the Strait of Hormuz and stronger cooling demand from El Niño; China (~5.0bn t) and India (1.353bn t) account for most of the increase.
UN Resident Coordinator Marc-André Franche said the combined El Niño and Indian Ocean Dipole effects on Sri Lanka remain highly uncertain and urged district-level preparedness, flagging about 15-16 of 25 districts as priorities. He said the UN and FAO have prepared a detailed scenarios paper and recommended localised flood- and drought-prevention measures and clearer planting guidance.
President Anura Kumara Dissanayake said the government expects to provide a subsidy to cushion a likely fuel price increase from 1 October. He said global market prices indicate fuel prices would need to rise under the existing pricing formula, and the government will consider assistance to ease the burden.
The Ceylon Chamber's Sri Lanka Economic & Investment Summit 2026 (12-13 Oct) will host a session 'Beyond Fossil Dependence' to examine Sri Lanka's energy transition, renewable adoption and investment; panelists include the IFC regional manager, the Energy Secretary and WindForce PLC's MD.
The Ceylon Chamber of Commerce will hold the Sri Lanka Economic & Investment Summit on 12-13 Oct 2026, with a session titled 'Beyond Fossil Dependence' focused on energy transition, renewable adoption and energy security; panelists include WindForce MD Manjula Perera, the Energy Secretary and PUCSL DG.
WindForce PLC and Vidullanka PLC inaugurated a 10 MW/40 MWh grid-scale standalone BESS in Anuradhapura, the first of 13 projects that together will provide 130 MW/520 MWh of storage. WindForce also commissioned a 5 MW floating solar plant (≈9 GWh/yr), raising its renewable capacity to ~268 MW.
The Government aims to add about 960 MW of battery energy storage capacity by end-2027 to absorb daytime solar surplus; a 10 MW/40 MWh system in Anuradhapura (first of 13 by Storex) was connected, with the 13-system project totalling 130 MW/520 MWh. Separate 400 MW, 250 MW and 150 MW BESS bids are under evaluation targeting completion by mid-2027.
Global oil prices fell for a third day, with Brent down 2.2% to $102.57/bbl and US WTI down 1.9% to $100.05, as investors weighed fresh Saudi-Yemen strikes against signs that additional Saudi crude may reach global markets and ease supply concerns.
The 5 MW "Diyajanani" floating solar plant on Ibbankatuwa Tank in Dambulla was connected to the national grid and will supply electricity for about 7,500 households annually. The project is expected to cut roughly 6,440 tCO2 and save ~2.5 million litres of diesel (≈USD 3 million in FX) per year and provided about 150 local jobs.
Crude oil was set for a weekly decline after fears over Saudi exports eased on reports of ship-to-ship transfers off Oman; Brent traded at $103.65/bbl and WTI at $101.04/bbl. Prices remain above $100, sustaining upward pressure on end fuel prices.
WindForce PLC commissioned a 10 MW/40 MWh grid-scale battery storage system and a 5 MW floating solar plant, raising its generation capacity to about 268 MW. The BESS, Sri Lanka's first standalone grid-scale battery, was developed via StoreX (a JV with Vidullanka PLC) and the floating solar (owned by WindForce's Diyajanani) is expected to generate ~9 GWh/year.
WindForce and Vidullanka commissioned a 10 MW/40 MWh grid-scale BESS in Anuradhapura (the first of 13 Storex facilities) and a 5 MW floating solar plant; WindForce said the floating plant will generate ~9 GWh/year and raises its renewable capacity to about 268 MW.
WindForce PLC commissioned a 10 MW/40 MWh grid-scale BESS in Anuradhapura and a 5 MW floating solar plant, lifting its total renewable capacity to about 268 MW. The BESS is the first of 13 facilities totalling 130 MW/520 MWh and the floating solar is expected to generate ~9 GWh/year.