LKCSE Colombo Stock Exchange Close
  • Current Exchange
    Colombo Stock Exchange LKCSE

Market time
Black
White

Send This Page To Friends and Colleagues

You can Enter more than one email separated by (,)
Allowed 100 characters only
12 July, 2013 08:22 AM Source: Reuters
CSE 4 Stock.jpg

Sri Lankan stock market hit a one-week high on Thursday, led by market heavyweight John Keells Holdings after it said it plans to build a multi-million dollar luxury resort.

The main share index rose 0.77 percent, or 46.33 points, to 6062.38, the highest close since July 4.

Keells, Sri Lanka's biggest conglomerate, said late on Wednesday it had submitted a plan to the government to build the luxury resort worth more than $650 million that would include hotels, shops and apartments.

Two hours after the trading started on Thursday, Investment Promotion Minister Lakshman Yapa Abeywardena said Keells had been given approval for a $850 million deal to build the resort.

Shares in Keells ended 2.61 percent higher at 252 rupees.

"Keels deal gave a boost to the market. It's a positive news that the market was awaiting and market is up on Keells in thin trade," a stockbroker said on condition of anonymity.

Capital Alliance Research said in a note the Keells disclosure to the bourse lacks detail as it was not clear whether the deal has secured a casino license or joint venture partner and the structure of the deal. More...

Read Original Article

Add Comment | 0   comment

Readers Comment

Nothing found to display
page number 1

Add Comment

Please login first to comment Click here to login

Stocks in Focus


Features for Registered Users

E-mail Alerts
Daily Newsletter
Your Watchlist
Advanced Tools
and
Many more


Will automatically display the last quotes you have visited here.

All Rights Reserved - DUInvest © 2014

Login

Do You have an Account ? , Click here to create a new account

Your Opinion Matters

What do you think about the new Website?