Stock Market Indicators:

ASI: 6,577.8 (up 12 points, +0.19%), S&P SL20: 3,714.8 (up 15 points, +0.41%)

Turnover: Rs.860mn (vs. Rs.288mn)

Exchange Rate 1US$ = Rs.155.29

Market Capitalization: US$19.4bn

Foreign Purchases: Rs.355mn (vs. Rs.53mn)

Foreign Sales: Rs.283mn (vs. Rs.32mn)

John Keells Holdings (JKH-N – Rs.159.9) emerged as the top contributor to turnover with Rs.242mn (1.5mn shares), followed by Dialog Axiata (DIAL – Rs.13.6) with Rs.108mn turnover (8.0mn shares) and Janashakthi Insurance Company (JINS – Rs.32.6) with Rs.56mn turnover (1.7mn shares)

Corporate Announcements:

It was announced that Ceylon Tea Brokers (CTBL) has made a settlement of commercial paper worth Rs.232mn with interest, to its related party Capital Alliance Investment Grade Fund. The borrowings were utilised to acquire Logicare (Pvt) Ltd.

Swarnamahal Financial Services (SFS) made a clarification regarding an article published on Daily FT, on 20 February 2018. Accordingly, SFS clarified that the proposed investment on EAP Group, has not yet materialised or approved by the Central Bank of Sri Lanka (CBSL).

Results for the Period Ended 31 December 2017:

DFCC Bank (DFCC) reported a net profit of Rs.1,025mn for 4Q2017 (+35% YoY), resulting in a net profit of Rs.4,362mn for 2017 (+28% YoY)

Commercial Development Company (COMD) reported a net profit of Rs.329mn for 4Q2017 (+35% YoY), resulting in a net profit of Rs.427mn for 2017 (+31% YoY)

Swadeshi Industrial Works (SWAD) reported a net profit of Rs.22mn for 3Q18 (vs. a net loss of -Rs.37mn in 3Q17), resulting in a net profit of Rs.14mn for 1-3Q18 (vs. a net loss of -Rs.71mn in 1-3Q17)

CT CLSA – Daily Report – 20 February 2018