Mega trades in Lanka Tiles & JKH drive turnover

Redbulls · 1 Sri Lanka stocks close flat Fri Nov 01, 2013 5:05 pm

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Nov 01, 2013 (LBO) - Sri Lanka stocks closed flat with a trade in a tile firm pushing turnover above a billion rupees, brokers said.

The Colombo benchmark All Share Price Index closed just 0.26 points lower at 5,954.36. The S&P SL20 closed 1.74 points lower at 3,280.33, down 0.05 percent, after reaching an intraday high of 3,285.11.

Turnover was 1.09 billion rupees, up from 632.86 million a day earlier, with stocks of 89 firms closing in the red against 109 gainers.

Lanka Floor Tiles had twelve off market deals pushing the turnover by over 519 million rupees.

JKH’s off market transactions of over 144 million rupees also helped the turnover gain.

Foreigners brought 204 million rupees worth shares while selling 37 million rupees of shares.

Nestle Lanka closed 35.00 rupees higher at 1,945.00 rupees and Sri Lanka Telecom closed 80 cents higher at 39.60 rupees, contributing most to the index gain.

JKH closed 1.30 rupees higher at 224.90 rupees and HNB closed 2.00 rupees higher at 149.00 rupees, contributing the index positively.

Carson Cumberbatch closed 10.00 rupees lower at 380.00 rupees and Bukit Darah closed 10.00 rupees lower at 675.00 rupees, contributing the index negatively.

Lanka Orix Leasing Company closed 2.00 rupees lower at 61.00 rupees and Dialog closed 10 cents lower at 9.00 rupees.

Nestle Lanka closed 35.00 rupees higher at 1,945.00 rupees and Cargills Ceylon closed 1.30 rupees lower at 149.00 rupees.

Ceylon Tobacco Company closed 1.80 rupees lower at 1,120.10 rupees and Distilleries closed 10 cents higher at 185.10 rupees.

Commercial Bank of Ceylon closed flat at 118.00 rupees and NDB Bank closed 40 cents higher at 158.50 rupees.

Union Bank closed 20 cents lower at 17.70 rupees and Ceylinco Insurance closed 2.70 rupees lower at 1,297.60 rupees.

Touchwood ended up 10 cents to 4.30 rupees.

PCH Holdings closed flat at 1.60 rupees and PC House ended up 10 cents to 90 cents.
http://www.lankabusinessonline.com/news/sri-lanka-stocks-close-flat/1353939893

sriranga

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COLOMBO, Nov 1 (Reuters) - Sri Lankan stocks ended steady on Friday, hovering around its two-week high as gains led by telecom shares were offset by oil palm shares while block deals in Lanka Floortiles PLC helped boost the turnover.

The main index edged down 0.26 points to 5,954.36, near its highest close since Oct. 17.

Top fixed-line phone operator Sri Lanka Telecom PLC gained 2.1 percent to 39.60 rupees on better earnings prospects, stockbrokers said.

But the gains were offset by losses in large cap oil palm shares like Carson Cumberbatch PLC , which fell 2.56 percent to 380.00 rupees.

Block deals in Lanka Floortiles accounted for 53 percent of the day's turnover of 1.09 billion rupees, which was well above this year's daily average of 871.8 million rupees.

Lanka Floortiles rose 2.88 percent to 75 rupees.

($1 = 130.90 Sri Lanka rupees)

(Reporting by Ranga Sirilal and Shihar Aneez; Editing by Gopakumar Warrier)

(ranga.sirilal@thomsonreuters.com)

(+94-11-232-5540; Reuters Messaging: ranga.sirilal.thomsonreuters.com@reuters.net)(twitter.com/rangab a)
http://www.xe.com/news/2013/11/01/3637497.htm?c=1&t=

sriranga

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Deputy Chairman and longstanding shareholder Dr. S. Selliah and related parties yesterday sold his 13.6% stake in Lanka Tiles Plc (LTL) for Rs. 576 million to Lanka Walltiles Plc (LWL).

With the purchase LWL now holds 68% of LTL. LWL Group is now under the control of business leader Dhammika Perera, who also owns Royal Ceramics Plc.

The stake amounting to 7.2 million shares was done at Rs. 80 per share.

Dr. Sellaiha’s Arunodhaya Ltd., Arunodhaya Investments Ltd. and Aruodhya Industries Ltd. sold 1.3 million shares (2.47%) each along with Mrs. A. Selliah and Andysel Ltd.

Collectively Selliah and related parties were the second largest shareholder whilst EPF holds nearly 10% and foreign shareholder Mellon Frontaura Global Frontier Fund holds 5%.
http://www.ft.lk/2013/11/02/dr-selliah-sells-13-6-stake-in-lanka-tiles-for-rs-576-m/

Redbulls · 4 Mega trades in Lanka Tiles & JKH drive turnover Sat Nov 02, 2013 12:59 am

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Blue Diamonds & Seylan settle long running dispute

Large transactions in Lanka Tiles and JKH yesterday drove turnover on the Colombo bourse to Rs.1.09 billion, up from the previous day’s Rs.632.9 million, with both indices closing marginally down – the All Share Price Index by 0.26 points (0.00%) and S&P SL20 by 1.74 points (0.05%) with 121 gainers ahead of 91 losers while 47 counters closed flat.

Nearly 6.5 million Lanka Tiles were crossed in 12 block trades at a price of Rs.80 contributing Rs.519.2 million to turnover while three parcels of JKH totaling over 0.6 million shares were crossed at Rs.225 contributing Rs.144.3 million to the day’s turnover.

These crossings accounted for over half the day’s business.

Apart from the crossings, Lanka Tiles saw nearly 0.8 million shares traded on the floor closing Rs.2.10 up at Rs.75 on a trading range of Rs.73.10 to Rs.80 contributing Rs.62.6 million to turnover.

Analysts said that a big shareholder outside the controlling interest appeared to have exited from Lanka Tiles with yesterday’s trades topping 10% of the company.

Floor trades in JKH topped 0.1 million shares done between Rs.222.10 and Rs.225 closing 90 cents up at Rs.224.90 and contributing Rs.38.2 million to turnover.

Ceylinco Insurance, where there is sharp competition for shares, closed Rs.4.70 up at Rs.1,305 on 32,755 shares done between Rs.1,297 and Rs.1,305 contributing Rs.42.5 million to turnover. Brokers said that the market is trading in a 100-point band between 5,900 and 6,000 not clearing the 6,000 point resistance barrier nor falling below 5,900.

Retail play yesterday was focused on Touchwood where nearly 5.6 million shares were done closing 10 cents up at Rs.4.30 trading between Rs.4.20 and Rs.4.50 contributing Rs.28.8 million to turnover, Dankotuwa Porcelain closing Rs.1.20 up at Rs.15.60 on over 1.5 million shares, ERI (now Lanka Century Investments) closing 70 cents up at Rs.15.70 on nearly 1.2 million shares, Expolanka closing 10 cents up at Rs.7.30 on over 1.7 million shares and Blue Diamonds (voting) closing 20 cents up a Rs.3.40 on nearly 3.2 million shares.

Nanda Investments announced a 01 for 20 rights issue priced at Rs.9 per share offering slightly over 5 million new shares. A general meeting will be held on Nov. 27 with the share trading XC from Nov. 28 and provisional letters of allotment dispatched on Dec. 4. December 19 has been set for the last day for acceptance and payment.

Blue Diamonds Jewellery Worldwide announced that the company had entered into a settlement agreement with the Seylan Bank with respect to a long running dispute that had gone into arbitration. Blue Diamonds had agreed to settle a sum equivalent to USD 415,000 upon Seylan releasing a stock of jewellery held as security by the bank.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=91252