Finco Holdings’ stake in Printcare exceeds 11 percent; selling pressure in major banks

Finco Holdings (Pvt) Limited has increased its holding in Sri Lanka’s Printcare to 11.21 percent, CSE sources said. “Following the execution of the above transaction, the shareholding of the aforementioned client in Printcare has exceeded 10 percent, CSE sources added.

Finco Holdings bought 2,648,582 ordinary shares, at Rs. 62 a share. The company previously held 6,989,213 shares.



Amid those developments the stock market was volatile yesterday as selling pressure was noted in major banks, especially HNB, Sampath Bank and Commercial Bank, while Pan Asia Bank’s per share price shot up by 10 percent. Its initial price was Rs 34.80 and at the end of the day it moved up to Rs 38.

At the end of the day, the All Share Price Index was up by 62.5 points, while the S and P SL20 went up by 5.63 points.

Turnover stood at Rs 5.9 billion with eight crossings. Those crossings were reported in CT Holdings where 5.

2 million shares crossed to the tune of Rs 2 billion and its shares traded at Rs 390, Cargills 4.5 million shares crossed for Rs 2 billion; its shares traded at 450, Pan Asia Bank 1.5 million shares crossed for Rs 55 million; its shares traded at 37.

40, JKH two million shares crossed for 22.30 million; its shares sold at Rs 20.30, Lion Brewery 23000 shares crossed for Rs 28.

5 million; its shares traded at Rs 1240, Melstacope 200,000 shares crossed for Rs 26.4 million and its shares sold at Rs 132, Lanka IOC 200,000 shares crossed for Rs 25.9 million; its shares traded at Rs 129.

50 and Central Finance 110,000 shares crossed for Rs 21.9 million; its shares sold at Rs 199. In the retail market top six companies that have mainly contributed to the turnover were; Lankem Developments Rs 215 million (10.

5 million shares traded), Pan Asia Bank Rs 197 million (5.4 million shares traded), CTC Rs 83 million (61400 shares traded), JAT Holdings Rs 74 million (2.5 million shares traded), ACL Cables Rs 72 million (557,000 shares traded) and JKH Rs 67 million (3.

3 million shares traded). During the day 77.3 million share volumes changed hands in 13664 transactions.

It is said that manufacturing sector counters actively participated at the floor, especially CT Holdings and Cargills, while other sectors also performed well. But a slight price depreciation in major three banks had negatively impacted the S and P SL20 index. Yesterday, the rupee opened at Rs 299.

42/47 to the US dollar in the spot market, against Wednesday’s close of 299.52/55, dealers said, while bond yields were broadly steady from the previous close. A bond maturing on 15.

02.2028 was quoted at 9.85/95 percent.

A bond maturing on 01.09.2028 was quoted at 9.

95/10.00 percent. A bond maturing on 15.

12.2028 was quoted at 10.00/05 percent.

A bond maturing on 15.06.2029 was quoted at 10.

28/29 percent. A bond maturing on 15.12.

2029 was quoted at 10.38/40 percent, from 10.35/42 percent.

A bond maturing on 15.03.2031 was quoted flat at 10.

85/95 percent. By Hiran H Senewiratne.