Business Times

Shares that performed well in ‘09

The Colombo stockmarket last year saw banking counters, the diversified sector, manufacturing and the hotel sector performing well while shares such as Richard Pieris and Lanka IOC (LIOC) did not do so well, according to stock analysts.

“Banking shares like Commercial, Sampath, HNB, NDB, DFCC performed well due to favourable conditions in the sector,” Jaliya Wijeratne, Director Institutional Sales SMB Securities told the Business Times.

He noted that diversified sector counters such as JKH, Hayleys, Aitken Spence, Carsons, Ceylon Theatres also did well due to their solid fundamentals and bright future prospects. “In the manufacturing sector counters such as Lanka Lubricants, ACL Cables, Kelani Cables, Tokyo Cement did well,” he said, adding that apart from each company’s unique prospects the overall sector is projected to prosper with potential development expected to take place in the North and East this year.

Naren Godamunne, Director Sales, Acuity Stockbrokers said that the banking sector, diversified sector and the hotel sector performed very well, due to the high market sentiment – especially after the war.
Mr. Wijeratne noted that CTC did well and gave high dividend returns due to its solid fundamentals, while Chemenex and Haycarb also did well.

He said that hotels like Asian Hotels and Properties, Ahungalla Hotels and Keells Hotels performed well soon after the war ended with expectation of higher arrivals, adding that Colombo Dockyard did well due to its earning potential.

Mr. Wijeratne noted that Richard Pieris was affected during the year due to their high gearing situation, while Lanka IOC counter also was negative due to a poor performance during the year. “CIC was a stagnant share during the year,” he added.

Top to the page  |  E-mail  |  views[1]
Other Business Times Articles
Tax returns thro’ Internet
Negotiations on port deal set for next week
Shares that performed well in ‘09
CB extends capital requirement deadline for banks
Interest rates cut good for banks in the long term
Newsmakers in the corporate world 2009
New outfits for ‘SriLankan girls’ by February
Pic by J Weerasekera shows sacked workers outside the restaurant
Enhancing the BT
Comment - Stockmarkets seen taking off
Making Sri Lankan roads safer for all road users
Can sustainable consumers and producers save the planet?
More foreign exchange problems for SL: Top financial analyst
Tourists offered 10-day free stay in Swat hotels-Pakistan
State banks see a large demand for loans
Crocodile sponsors Golf
Decade of Scandals and Crises
Mobilization of deposits for capital formation
Lakshman Silva, new CEO at DFCC Vardhana Bank
COYLE members contribute funds for welfare of children of war heroes
Memorial lecture on shipping issues
ADB to assist Sri Lanka’s post war development
New plantation wage is implemented favourably to workers, companies say
HSBC -Best trade finance bank in Asia
Live produce prices from Dambulla, Meegoda and Narahenpita
Tigo, Mobily in cooperation talks
Digital entertainment opportunity opens for India-Sri Lanka
Vidullanka power gets credit rating
Western province revenue licence now available online
Role of citizens in challenging corruption
Helping you make smart choices about money
Union Bankrating affirmed
Delmege joins up with Aramex on supply chain business
CBL receives top 10 Best Corporate Citizen award
Weak asset quality constrains PABC ratings
ICASL honours long-standing employees
100 million rupees grant from Microsoft to MOE
Golden ‘Reggies’ abound with awards
INSEAD launches Global Private Equity initiative
Seasonal prices remain unchanged
SLIIT and Deakin sign MOU
‘Tech Fusion 2009’ event to promote BPO/IT
‘Garments Without Guilt’ at world event
CB road map on financial policies on Jan 4


Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2010 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution