SLT boosts turnover

Sri Lanka Telecom was the focal point of investors both retail and institutional as they bought over 29 million shares boosting turnover to Rs 1, 268 million. The share traded between Rs 39.25 and 39.75 on Monday.

SLT’s share price reached a high of Rs 43.25 in February of 2007 on expectations that Maxi’s related Usaha Tegas was taking over the Islands largest fixed line operator. Since the Supreme Court cleared legal objections to the sale last Monday, the share has accounted for the bulk of the trading.

Ceylinco Insurance reported a 17 per cent increase in annual revenue to Rs 16.6 billion, and a 23 per cent increase in net profits to Rs 1 billion.

The earnings per share for the company stood at Rs 50.78.

Tokyo Cement (TKYO), clarifying a query from the CSE, related to a newspaper article on an impending rights issue, stated the article was not released by the company. It neither denied nor confirmed the alleged rights issue of Rs 1.2 - 1.5 billion. Overall market was negative

. Source: First Guardian Equities