Sri Lanka Hayleys group stake changes hands

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

June 10, 2008 (LBO) – A six percent stake in Sri Lanka’s Hayleys group owned by Carson and Cumberbatch controlled companies was bought by businessman Dhammika Perera on the Colombo stock exchange Tuesday, brokers said.

The Ceylon Investments Company sold a stake in Hayleys amounting to 1,822,632 shares while Ceylon Guardian Investment Trust sold 2,164,358 shares to Perera, brokers said.

Hayleys went up by 16.00 rupees to 125.00 rupees with the transactions adding 668.92 million rupees to the day’s turnover.

Hayleys group has a market capitalization of 9.37 billion rupees which is 1.15 percent of the total market.

Ceylon Guardian closed up 12.50 at 172.75 rupees, adding 21.48 million rupees to the total turnover of 812.1 million.

Ceylon Investments closed 6.50 rupees higher at 81.25.

But the market closed marginally lower. The All Share Price Index lost 0.14 percent (3.43 points) to end at 2,489.25 while the more liquid Milanka lost 0.15 percent (4.39 points) to end at 2,991.49.

The indices were dragged down by index-heavy Carson and Cumberbatch which lost 100 rupees at 4,500.00.

Index-heavy Bukit Darah, also a Carson group firm, was also down 25 cents at 1,650.25.

Activity was seen on Colombo Fort Land and Building Company, with its share losing 75 cents to close at 29.00. Around 627,100 shares changed hands adding 18.43 million to the turnover.

In telecoms, Sri Lanka Telecom shed 75 cents to close at 46.75 rupees while Dialog Telekom closed flat at 13.25 rupees.

John Keells Holdings also closed flat at 114.00.

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