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Saturday, October 1, 2022

Dhammika’s stocks soar on Parliament talks – The Morning

Must read

  • Vallibel One, Hayleys up by 5.7%, 4.2%
  • CSE gains, thanks to Dhammika
  • MP invitation yet to be accepted


By Shenal Fernando

The Bourse closed in green yesterday (9) on the back of significant gains observed in the Vallibel One Group and Hayleys Group counters, as a result of circulating talks relating to Dhammika Perera possibly entering Parliament.

Since Wednesday (8) evening, after the announcement of the imminent resignation of Basil Rajapaksa from his Sri Lanka Podujana Peramuna (SLPP) National List seat, talks have circulated widely linking Dhammika Perera with the vacant National List seat. 

Although on Wednesday, sources within the SLPP stated that Perera’s name was on a list of possible replacements for Rajapaksa that was submitted to the Election Commission, Perera had stated that he was not aware of such.

Perera, who is the Chairman and Managing Director of Vallibel One PLC (VONE) and Co-Chairman of Hayleys PLC (HAYL), has been linked with political affairs for some time. As a consequence of these rumours, shares of the above companies and their subsidiaries recorded significant gains during the day.

Accordingly, the share price of Vallibel One PLC (VONE) surged by Rs. 5.7 (20.1%) during the day, reaching Rs. 34.1 by the close of the day. Similarly, CIC Holdings PLC increased by Rs. 3.6 (16.4%) reaching Rs. 25.6 by the close of the day. Vallibel Finance PLC (VFIN) was up Rs. 4.2 (15.6%) and closed the day at Rs. 30.5. Similarly, Swisstek (Ceylon) PLC was also up by Rs. 1.8 (14.4%). Furthermore, Dankotuwa Porcelain PLC (DPL) was also up by Rs. 1.0 (11.2%), reaching Rs. 9.9 by market close. While Hayleys PLC (HAYL) ended the day up Rs. 4.3 (6.6%) reaching Rs. 69.1.

Due to the gains recorded in these counters, the ASPI ended the day up 108.44 points (1.4%), reaching 7,881.13 points compared to the previous day’s close of 7,772.69 points. A similar movement was observed in the S&P SL20 index, which was up 56.28 points (2.23%) reaching 2,585.37 points, from the previous day’s close of 2,529.09 points. Turnover for the day was down again at Rs. 917 million, with only around 46.9 million trades made.


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