Sri Lanka Stock Picks

Sri Lanka stock picks site has been developed to give first hand information with regard to share trading opportunities available for investors who do not like go through lengthy research reports, calculations,etc but to have a clear idea about stocks that have future up side potential.Our service is just not for day traders but for the investors who wish to see their money growing in the long run.Our main objective is to provide information relating to trading under one roof.

Friday, July 1, 2011

Emagewise, Nimal, Cargo Boat pick up AHOT

Hot on the heels of EPF increasingly turning savvy on Aitken Spence parent and hotel subsidiary, more joined in yesterday picking up sizeable quantities of the latter.

Around 2.5 million shares of Aitken Spence Hotel Holdings traded yesterday for Rs. 192 million including at a high of Rs. 83.50 before closing at Rs. 75.70, up by 70 cents.

Dilith Jayaweera and Varuni Amunugama Fernando-fame Emagewise had bought 1 million shares of AHOT with high networth investor Nimal Perera picking up 500,000 shares whilst Cargo Boat Development had bought around 650,000 and Thurston Investments chipping in with around 275,000.

Last month Emagwise connected party Kalpitiya Resort Hotels collected some shares of AHOT too as part of portfolio investments.

Main sellers of AHOT were Ceybank Unit Trusts funds, which were also on the selling side on Wednesday when 3.4 million shares were bought by EPF increasing its stake to 8% on top of 2.9 million shares of Aitken Spence and Company thereby increasing the holding to 6.4%. A foreign fund had also sold around 750,000 AHOT shares yesterday.

Deals on AHOT accounted for the biggest share of a relatively low turnover of Rs. 1.8 billion yesterday as the market remained depressed.

NDB Stockbrokers said ASPI declined further while the MPI also closed lower. “However, some of the earlier losses were recouped towards end of trading with increased interest in speculative counters. The lackluster sentiment was witnessed in low volumes and turnover level. The beginning of the second half of the year next week may provide a boost to the market,” NDB added.

Bank, Finance and Insurance sector was the main contributor to the market turnover (due to Central Finance, Swarnamahal Financial Services), while the sector index increased by 0.11%.

Hotels and Travels sector also contributed significantly to the market turnover (due to Aitken Spence Hotels). The sector index increased 0.16%.

Aitken Spence Hotels was the main contributor to the market turnover, with 2,425,000 shares exchanging hands for Rs. 75.00 each in five crossings. The share gained Rs. 0.70 (0.93%) and closed at Rs. 75.00. Distilleries also contributed significantly to the market turnover. The share dropped Rs. 0.20 (0.11%) and closed at Rs. 179.00.
source - www.ft.lk