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SRI LANKA MARKET UPDATE & REVIEW MARCH 2015 Content • Market Brief • Equity Market Outlook

SRI LANKA MARKET UPDATE & REVIEW

MARCH 2015
MARCH 2015

Content

Market Brief

Equity Market Outlook

Islamic Finance

Commodity Outlook

Forex Outlook

GIH Capital Limited

(Registered with Securities and Exchange commission of Sri Lanka (SEC)) All Rights Reserved.

Market Brief

Market Brief The Colombo bourse touched year lowest during the month of March witnessing notable losses.

The Colombo bourse touched year lowest during the month of March witnessing notable losses. The lackluster investor activities and the political instability that prevailed in the

country majorly affected this negative index performance. Colombo Stock Exchange (CSE)

benchmark price index, All Share Price Index (ASPI) lost 6.59% MOM to close 6820.34 points, while 20 Scrip S&P SL index also decreased 6.40% MOM to close at 3852.43.

The benchmark 364 day Treasury bill rate was at 6.76%, as the central bank drives to encourage banks to reduce lending rates in order to induce private sector borrowing. In March 2015, the credit obtained by the private sector from commercial banks increased by 11.5% y- o-y, which means that the credit disbursements during the month amounted to Rs.21 billion. It

is expected that the credit to private sector from commercial banks will sustain its growth

momentum in the future.

Core inflation, which reflects the underlying inflation in the economy, increased to 1.4 percent in March 2015, from 0.8 percent in February 2015 on a year on year basis. Annual average core inflation during March 2015 was 3.0 percent, compared to 3.2 percent recorded in February 2015.

The decline in inflation in February was a reflection of downward revision of domestic fuel prices and the moderation of the prices of certain essential items announced in the Interim Budget 2015.With these favorable budget proposals and improved supply conditions it is projected that inflation will remain at low levels, particularly in the first half of 2015.

It is expected that the external sector would remain resilient with continued foreign currency inflows to the current account as well as to the financial account.

Atchuthan Srirangan Fund Manager GIH Capital.

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

One Year ASPI & S&P SL 20

One Year ASPI & S&P SL 20 Atchuthan Srirangan atchuthan@gihcapital.com Dec-14 +94 117 452 800 6,300.00

Atchuthan Srirangan

atchuthan@gihcapital.com

Dec-14 +94 117 452 800 6,300.00 6,700.00 7,100.00 7,500.00 Mar-14 Jun-14 Sep-14 ASPI S&P SL20 5,900.00
Dec-14
+94 117 452 800
6,300.00
6,700.00
7,100.00
7,500.00
Mar-14
Jun-14
Sep-14
ASPI
S&P SL20
5,900.00
3,150.00
3,450.00
3,750.00
4,050.00
4,350.00
5,500.00
Mar-15

ASPI Value and Daily Turnover March 2015

20-Mar-15 6,750.00 3,000.00 2,500.00 2,000.00 1,500.00 12-Mar-15 16-Mar-15 17-Mar-15 18-Mar-15 19-Mar-15 6,900.00 23-Mar-15 24-Mar-15 25-Mar-15 26-Mar-15
20-Mar-15
6,750.00
3,000.00
2,500.00
2,000.00
1,500.00
12-Mar-15
16-Mar-15
17-Mar-15
18-Mar-15
19-Mar-15
6,900.00
23-Mar-15
24-Mar-15
25-Mar-15
26-Mar-15
30-Mar-15
31-Mar-15
Turnover
ASPI
27-Mar-15
10-Mar-15
0.00
1,000.00
7,350.00
11-Mar-15
500.00
9-Mar-15
6-Mar-15
4-Mar-15
3-Mar-15
2-Mar-15
7,500.00
13-Mar-15
7,200.00
7,050.00

In March 2015 Colombo Stock Exchange (CSE) benchmark price index, All Share Price Index (ASPI) lost 6.59% MOM to close 6820.34 points, while 20 Scrip S&P SL index also decreased 6.40% MOM to close at 3852.43.

John Keells Holding, Seylan Bank and Distilleries are the top contributor to March monthly

turnover.

Source : GIH Capital Research

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

March Foreign Flow

March Foreign Flow Atchuthan Srirangan atchuthan@gihcapital.com +94 117 452 800 100.00 Net Inflow / (Outflow) 10-Mar-15

Atchuthan Srirangan

atchuthan@gihcapital.com +94 117 452 800

100.00 Net Inflow / (Outflow) 10-Mar-15 -400.00 -150.00 Foreign Sales 350.00 600.00 850.00 2-Mar-15 3-Mar-15 4-Mar-15
100.00
Net Inflow / (Outflow)
10-Mar-15
-400.00
-150.00
Foreign Sales
350.00
600.00
850.00
2-Mar-15
3-Mar-15
4-Mar-15
6-Mar-15
23-Mar-15
11-Mar-15
12-Mar-15
13-Mar-15
16-Mar-15
17-Mar-15
18-Mar-15
19-Mar-15
20-Mar-15
30-Mar-15
24-Mar-15
25-Mar-15
26-Mar-15
27-Mar-15
9-Mar-15
31-Mar-15
Foreign Purchase

The month March witnessed net foreign inflow of LKR 1.40 Bn. Foreigners bought LKR 5.31 Bn worth of shares while foreign selling amounted to LKR 3.91 Bn.

Cumulatively last 3 months Foreigners bought LKR 21.15 Bn worth of shares while foreign selling amounted to LKR 18.24 Bn.

March Foreign Flow Atchuthan Srirangan atchuthan@gihcapital.com +94 117 452 800 100.00 Net Inflow / (Outflow) 10-Mar-15

‘’You’re neither right nor wrong because other people agree with you. You’re right because your facts are right and your reasoning is right-and that’s the only thing that makes you right.”

Warren Buffett

Source : GIH Capital Research

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

Percentage wise Top 25 Gainers and Losers in Mar 2015 Atchuthan Srirangan Top Gainers No Security

Percentage wise Top 25 Gainers and Losers in Mar 2015

Atchuthan Srirangan

Top Gainers

 

No

Security ID

Name

+94 117 452 800

MTD Price Change %

1

PCH-N-0000

PC HOUSE PLC

33.33%

2

SFL-N-0000

SINHAPUTHRA FINANCE PLC

 

11.12%

3

AGAL-N-0000

AGALAWATTE

PLANTATIONS

PLC

9.56%

4

AMF-N-0000

ASSOCIATED MOTOR FINANCE COMPANY PLC

 

6.98%

5

ARPI-N-0000

ARPICO FINANCE COMPANY PLC

 

6.55%

6

BLUE-N-0000

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

 

6.25%

7

SFL-P-0000

SINHAPUTHRA FINANCE PLC (Preference)

 

6.21%

8

SMOT-N-0000

SATHOSA MOTORS PLC

 

5.76%

9

CCS-N-0000

CEYLON COLD STORES PLC

 

5.06%

10

LMF-N-0000

LANKA MILK FOODS (CWE) PLC

 

4.96%

11

VLL-N-0000

VIDULLANKA PLC

 

4.92%

12

ONAL-N-0000

ON'ALLY HOLDINGS PLC

 

4.91%

13

CINS-X-0000

CEYLINCO INSURANCE PLC (Non Voting)

 

4.76%

14

ODEL-N-0000

ODEL PLC

4.50%

15

HPWR-N-0000

HEMAS POWER PLC

 

4.40%

16

MORI-X-0000

J.L.MORISON, SON & JONES (CEYLON) PLC (Non Voting)

3.79%

17

CHL-N-0000

CEYLON HOSPITALS PLC

 

3.51%

18

LVEN-N-0000

LANKA VENTURES PLC

 

3.19%

19

TILE-N-0000

LANKA FLOORTILES PLC

 

2.70%

20

COCR-N-0000

COMMERCIAL CREDIT AND FINANCE PLC

 

2.58%

21

CINS-N-0000

CEYLINCO INSURANCE PLC

 

2.08%

22

SEYB-N-0000

SEYLAN BANK PLC

 

1.79%

23

LHL-N-0000

THE LIGHTHOUSE

HOTEL

PLC

1.53%

24

CHOT-N-0000

CEYLON HOTELS CORPORATION PLC

 

1.30%

25

SING-N-0000

STANDARD CAPITAL PLC

 

1.05%

Top Losers

 

No

Security ID

Name

MTD Price Change %

1

REEF-W-0019

CITRUS LEISURE PLC (Warrant)

 

-44.44%

2

GEST-N-0000

GESTETNER OF CEYLON PLC

 

-42.56%

3

AEL-N-0000

ACCESS ENGINEERING LIMITED

 

-31.01%

4

CFVF-N-0000

FIRST CAPITAL HOLDINGS PLC

 

-29.50%

5

PCP-N-0000

PC PHARMA PLC

 

-28.57%

6

CSEC-N-0000

DUNAMIS CAPITAL PLC

 

-27.58%

7

ASCO-N-0000

ASCOT HOLDINGS PLC

 

-26.35%

8

JKH-W-0022

JOHN KEELLS HOLDINGS PLC (Warrant)

 

-25.88%

9

BREW-N-0000

CEYLON BEVERAGE HOLDINGS PLC

 

-25.79%

10

ESL-N-0000

ENTRUST SECURITIES PLC

 

-24.77%

11

EMER-N-0000

EASTERN MERCHANTS PLC

 

-24.62%

12

IDL-N-0000

SERENDIB ENGINEERING GROUP PLC

 

-23.66%

13

SEMB-N-0000

S M B LEASING

PLC

-23.08%

14

TESS-X-0000

TESS AGRO PLC (Non Voting)

 

-23.08%

15

HPFL-N-0000

F L C HYDRO POWER PLC

 

-22.64%

16

SELI-N-0000

SELINSING PLC

-22.50%

17

MASK-N-0000

MASKELIYA PLANTATIONS PLC

 

-22.41%

18

CITK-N-0000

KALPITIYA BEACH RESORT PLC

 

-21.95%

19

JKH-W-0023

JOHN KEELLS HOLDINGS PLC (Warrant)

 

-21.35%

20

EDEN-N-0000

EDEN HOTEL LANKA PLC

 

-20.75%

21

CHOU-N-0000

CITY HOUSING & REAL ESTATE COMPANY PLC

 

-20.41%

22

GSF-N-0000

GEORGE STEUART FINANCE PLC

 

-20.33%

23

ETWO-N-0000

EQUITY TWO PLC

 

-19.90%

24

ORIN-N-0000

ORIENT FINANCE PLC

 

-19.85%

25

HUEJ-N-0000

HUEJAY INTERNATIONAL INVESTMENTS PLC

 

-19.74%

atchuthan@gihcapital.com

Source : GIH Capital Research

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

Percentage wise Top 25 Gainers and Losers YTD Atchuthan Srirangan Top 25 Gainers YTD (Year-to-date) atchuthan@gihcapital.com

Percentage wise Top 25 Gainers and Losers YTD

Atchuthan Srirangan

Top 25 Gainers YTD (Year-to-date)

atchuthan@gihcapital.com +94 117 452 800

KEELLS FOOD PRODUCTS PLC

  • 5 KFP-N-0000

29.26%

25.93%

YTD Price Change %

Name

Security ID

No

  • 4 SDB-N-0000

  • 1 PCH-N-0000

PC HOUSE PLC

50.00%

EASTERN MERCHANTS PLC

36.23%

  • 3 PARA-N-0000

PARAGON CEYLON PLC

31.63%

  • 2 EMER-N-0000

SANASA DEVELOPMENT BANK PLC

  • 7 SOY-N-0000

20.05%

CONVENIENCE FOODS LANKA PLC

22.69%

CEYLINCO INSURANCE PLC

  • 6 CINS-N-0000

TEXTURED JERSEY LANKA PLC

16.99%

  • 11 MHDL-N-0000

  • 17 CINS-X-0000

SWISSTEK (CEYLON) PLC

10.26%

13.90%

SEYLAN BANK PLC (Non Voting)

10.26%

  • 25 VPEL-N-0000

VALLIBEL POWER ERATHNA PLC

9.72%

  • 24 SEYB-X-0000

  • 16 SLND-N-0000

SERENDIB LAND PLC

13.86%

  • 23 PARQ-N-0000

CEYLINCO INSURANCE PLC (Non Voting)

13.64%

  • 18 LALU-N-0000

SATHOSA MOTORS PLC

12.79%

  • 19 CCS-N-0000

CEYLON COLD STORES PLC

12.53%

  • 20 COCR-N-0000

COMMERCIAL CREDIT AND FINANCE PLC

12.36%

  • 21 SMOT-N-0000

HATTON NATIONAL BANK PLC

MILLENNIUM HOUSING DEVELOPERS PLC

16.67%

  • 12 GLAS-N-0000

PIRAMAL GLASS CEYLON PLC

16.33%

  • 13 LMF-N-0000

LANKA MILK FOODS (CWE) PLC

16.28%

  • 14 DIST-N-0000

DISTILLERIES COMPANY OF SRI LANKA PLC

14.52%

  • 15 HNB-N-0000

LANKA ALUMINIUM INDUSTRIES PLC

  • 10 TJL-N-0000

    • 8 SHAL-N-0000

SHALIMAR (MALAY) PLC.

19.44%

  • 9 VLL-N-0000

VIDULLANKA PLC

17.54%

12.29%

  • 22 LPRT-N-0000

LAKE HOUSE PRINTERS & PUBLISHERS PLC

10.32%

Top 25 Losers YTD (Year-to-date)

No

Security ID

Name

YTD Price Change %

 
  • 1 REEF-W-0019

CITRUS LEISURE PLC (Warrant)

 

-85.71%

 
  • 2 JKH-W-0022

JOHN KEELLS HOLDINGS PLC (Warrant)

-69.41%

 
  • 3 ASCO-N-0000

ASCOT HOLDINGS PLC

 

-62.11%

 
  • 4 ESL-N-0000

ENTRUST SECURITIES PLC

 

-56.21%

 
  • 5 JKH-W-0023

JOHN KEELLS HOLDINGS PLC (Warrant)

-55.72%

 
  • 6 CIFL-N-0000

CENTRAL INVESTMENTS AND FINANCE PLC

-53.33%

 
  • 7 MARA-N-0000

MARAWILA

RESORTS

PLC

-45.00%

 
  • 8 PALM-N-0000

PALM GARDEN HOTELS PLC

 

-42.63%

 
  • 9 CFVF-N-0000

FIRST CAPITAL HOLDINGS PLC

 

-42.55%

 
  • 10 CITK-N-0000

KALPITIYA BEACH RESORT PLC

 

-40.82%

 
  • 11 AEL-N-0000

ACCESS ENGINEERING LIMITED

-40.19%

 
  • 12 PCP-N-0000

PC PHARMA PLC

-35.71%

 
  • 13 GSF-N-0000

GEORGE STEUART FINANCE PLC

-35.18%

 
  • 14 TFC-X-0000

THE FINANCE COMPANY PLC (Non Voting)

-33.75%

 
  • 15 CLND-N-0000

COLOMBO LAND AND DEVELOPMENT COMPANY PLC

-33.15%

 
  • 16 LIOC-N-0000

LANKA IOC PLC

-32.83%

 
  • 17 ALHP-N-00000

ANILANA HOTELS AND PROPERTIES LIMITED

-29.11%

 
  • 18 TFC-N-0000

THE FINANCE COMPANY PLC

 

-29.05%

 
  • 19 RGEM-N-0000

RADIANT GEMS INTERNATIONAL PLC

-28.57%

 
  • 20 SEMB-N-0000

S M B LEASING

PLC

-28.57%

 
  • 21 AINV-N-00000

ADAM INVESTMENTS LIMITED

 

-28.21%

 
  • 22 ORIN-N-0000

ORIENT FINANCE PLC

 

-28.15%

 
  • 23 CSEC-N-0000

DUNAMIS CAPITAL PLC

 

-27.36%

 
  • 24 CHOU-N-0000

CITY HOUSING & REAL ESTATE COMPANY PLC

-26.17%

 
  • 25 CITW-N-0000

WASKADUWA BEACH RESORT PLC

-26.09%

Source : GIH Capital Research

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

Islamic Finance

Islamic Finance Mudharabah Deposit Rates of March 2015 of Selected Service Providers 6 month 3 month

Mudharabah Deposit Rates of March 2015 of Selected Service Providers

6 month 3 month 1 month Savings 4 year 3 year 2 year 5 year 1
6 month
3 month
1 month
Savings
4 year
3 year
2 year
5 year
1 year

Profit Sharing Ratio *

45:55

55:45

65:35

75:25

Distributed Profit

4.33%

5.20%

6.20%

7.20%

Profit Sharing Ratio *

45:55

60:40

65:35

75:25

Distributed Profit

6.35%

5.92%

6.42%

7.40%

Profit Sharing Ratio *

45:55

Distributed Profit

2.10%

Profit Sharing Ratio *

45:55

55:45

60:40

70:30

Distributed Profit

3.50%

5.75%

6.00%

6.25%

Profit Sharing Ratio *

15:85

23:77

25:75

27:73

30:70

Distributed Profit

4.90%

5.42%

5.89%

6.36%

7.07%

Profit Sharing Ratio *

30:70%

38:62

40:60

41:59

42:58

49:51

52:48

55:45

58:42

Distributed Profit

5.56%

7.03%

7.40%

7.59%

7.77%

9.07%

9.62%

10.18%

10.73%

Profit Sharing Ratio *

30:70

60:40

65:35

75:25

80:20

85:15

90:10

Distributed Profit

2.76%

5.75%

5.98%

6.91%

7.37%

7.83%

8.29%

Commercial Bank of Ceylon PLC-Al Adalah Islamic Banking Unit-As of February 2015

LOLC Al-Falaah(Lanka Orix Finance PLC-Islamic Business Unit)- As of February 2015

LB Al Salamal(LB Finance PLC-Islamic Business Unit)- As of February 2015

Hatton National Bank PLC-"Hnb Al-Najah"Islamic Banking unit

Peoples Leasing Islamic Business Unit

Bank of Ceylon Islamic Businees Unit

Amana Bank

* Profit sharing ratio provides profit ratio for Customer: Financial Institution; Profits distributed at Maturity

Islamic Finance Mudharabah Deposit Rates of March 2015 of Selected Service Providers 6 month 3 month

There's no shame in losing money on a stock. Everybody does it. What is

shameful is to hold on to a stock, or worse, to buy more of it when the

fundamentals are deteriorating.”

Peter Lynch

Source : Respective Bank Data

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

White Listed Companies

White Listed Companies C OM P A N Y N A M E SYM B OL
   

C OM P A N Y

N A M E

SYM B OL

C OM P A N Y

N A M E

SYM B OL

1

ABANS ELECTRICALS PLC

 

ABAN.N0000

64

LAKE HOUSE PRINTERS AND PUBLISHERS PLC

LPRT.N0000

2

ACCESS ENGINEERING PLC

 

AEL.N0000

65

LANKA ALUMINIUM INDUSTRIES PLC

LALU.N0000

3

ACL CABLES PLC

 

ACL.N0000

66

LANKA ASHOK LEYLAND PLC

ASHO.N0000

4

ACL PLASTICS PLC

 

APLA.N0000

67

LANKA CERAMIC PLC

CERA.N0000

5

AGALAWATTE PLANTATIONS PLC

 

AGAL.N0000

68

LANKA IOC PLC

LIOC.N0000

6

AGSTAR FERTILIZERS PLC

 

AGST.N0000

69

LANKA MILK FOODS (CWE) PLC

LMF.N0000

7

AITKEN SPENCE PLANTATION MANAGEMENTS

ASPM.N0000

70

LANKA TILES PLC

TILE.N0000

8

ALUFAB PLC

 

ALUF.N0000

71

LANKA WALLTILES PLC

LWL.N0000

9

ALUMEX LIMITED

 

ALUM.N0000

72

LANKEM DEVELOPMENTS PLC

LDEV.N0000

10

AMANA BANK LIMITED

 

ABL.N0000

73

LAUGFS GAS PLC

LGL.N0000

11

AMANA TAKAFUL PLC

 

ATL.N0000

74

LAXAPANA BATTERIES PLC

LITE.N0000

12

ASIRI SURGICAL HOSPITAL PLC

 

AMSL.N0000

75

MACKWOODS ENERGY PLC

MEL.N0000

13

BAIRAHA FARMS PLC

 

BFL.N0000

76

MADULSIMA PLANTATIONS PLC

MADU.N0000

14

BALANGODA PLANTATIONS PLC

 

BALA.N0000

77

MALWATTE VALLEY PLANTATIONS PLC

MAL.N0000

15

BOGALA GRAPHITE LANKA PLC

 

BOGA.N0000

78

MASKELIYA PLANTATIONS PLC

MASK.N0000

16

BOGAWANTALAWA TEA ESTATES PLC

BOPL.N0000

79

METROPOLITAN RESOURCE HOLDINGS PLC

MPRH.N0000

17

C

M HOLDINGS PLC

COLO.N0000

80

MILLENNIUM HOUSING DEVELOPERS LIMITED

MHDL.N0000

18

C

T LAND DEVELOPMENT PLC

CTLD.N0000

81

MULLER AND PHIPPS (CEYLON) PLC

MULL.N0000

19

C. W. MACKIE PLC

 

CWM.N0000

82

NAMUNUKULA PLANTATIONS PLC

NAMU.N0000

20

CENTRAL INDUSTRIES PLC

 

CIND.N0000

83

NAWALOKA HOSPITALS PLC

NHL.N0000

21

CEYLON & FOREIGN TRADES PLC

 

CFT.N0000

84

NESTLE LANKA PLC

NEST.N0000

22

CEYLON GRAIN ELEVATORS PLC

 

GRAN.N0000

85

ODEL PLC

ODEL.N0000

23

CEYLON HOSPITALS PLC (DURDANS)

CHL.N0000

86

OFFICE EQUIPMENT PLC

OFEQ.N0000

24

CEYLON LEATHER PRODUCTS PLC

 

CLPL.N0000

87

PANASIAN POWER PLC

PAP.N0000

25

CEYLON PRINTERS PLC

 

CPRT.N0000

88

PARAGON CEYLON PLC

PARA.N0000

26

CEYLON TEA SERVICES PLC

 

CTEA.N0000

89

PIRAMAL GLASS CEYLON PLC

GLAS.N0000

27

CHEMANEX PLC

 

CHMX.N0000

90

PRINTCARE PLC

CARE.N0000

28

CHEVRON LUBRICANTS LANKA PLC

LLUB.N0000

91

PROPERTY DEVELOPMENT PLC

PDL.N0000

29

CIC HOLDINGS PLC

 

CIC.N0000

92

RAIGAM WAYAMBA SALTERNS PLC

RWSL.N0000

30

CITY HOUSING & REAL ESTATE CO. PLC

CHOU.N0000

93

REGNIS(LANKA) PLC

REG.N0000

31

COLOMBO CITY HOLDINGS PLC

 

PHAR.N0000

94

RENUKA AGRI FOODS PLC

RAL.N0000

32

COLOMBO DOCKYARD PLC

 

DOCK.N0000

95

RENUKA HOLDINGS PLC

RHL.N0000

33

COLOMBO LAND & DEVELOPMENT COMPANY PLC

CLND.N0000

96

RENUKA FOODS PLC

COCO.N0000

34

CONVENIENCE FOODS (LANKA )PLC

SOY.N0000

97

RICHARD PIERIS EXPORTS PLC

REXP.N0000

35

DANKOTUWA PORCELAIN PLC

 

DPL.N0000

98

SAMSON INTERNATIONAL PLC

SIL.N0000

36

DIALOG AXIATA PLC

 

DIAL.N0000

99

SATHOSA MOTORS PLC

SMOT.N0000

37

DIPPED PRODUCTS PLC

 

DIPD.N0000

100

SELINSING PLC

SELI.N0000

38

EASTERN MERCHANTS PLC

 

EMER.N0000

101

SERENDIB ENGINEERING GROUP PLC

IDL.N0000

39

E-CHANNELLING PLC

 

ECL.N0000

102

SIERRA CABLES PLC

SIRA.N0000

40

ELPITIYA PLANTATIONS PLC

 

ELPL.N0000

103

SHALIMAR (MALAY) PLC

SHAL.N0000

41

EQUITY ONE PLC

 

EQIT.N0000

104

SINGER INDUSTRIES (CEYLON) PLC

SINI.N0000

42

EQUITY TWO PLC

 

ETWO.N0000

105

SRI LANKA TELECOM PLC

SLTL.N0000

43

EXPOLANKA HOLDINGS PLC

 

EXPO.N0000

106

SUNSHINE HOLDINGS PLC

SUN.N0000

44

F L C HYDRO POWER PLC

 

HPFL.N0000

107

STANDARD CAPITAL PLC

SING.N0000

45

FINLAYS COLOMBO PLC

 

JFIN.N0000

108

SWISSTEK (CEYLON) PLC

PARQ.N0000

46

GESTETNER OF CEYLON PLC

 

GEST.N0000

109

TALAWAKELLE TEA ESTATES PLC

TPL.N0000

47

HAPUGASTENNE PLANTATIONS PLC

HAPU.N0000

110

TEA SMALLHOLDER FACTORIES PLC

TSML.N0000

48

HARISCHANDRA MILLS PLC

 

HARI.N0000

111

TESS AGRO PLC

TESS.N0000

49

HAYCARB PLC

 

HAYC.N0000

112

TEXTURED JERSEY LANKA PLC

TJL.N0000

50

HAYLEYS FIBRE PLC

 

HEXP.N0000

113

THE COLOMBO FORT LAND & BUILDING PLC

CFLB.N0000

51

HAYLEYS MGT KNITTING MILLS PLC

MGT.N0000

114

THE AUTODROME PLC

AUTO.N0000

52

HEMAS POWER PLC

 

HPWR.N0000

115

THE GOOD HOPE PLC

GOOD.N0000

53

HORANA PLANTATIONS PLC

 

HOPL.N0000

116

THE INDO MALAY PLC

INDO.N0000

54

HUNTERS & COMPANY PLC

 

HUNT.N0000

117

THE LANKA HOSPITAL CORPORATION PLC

LHCL.N0000

55

INDUSTRIAL ASPHALTS (CEYLON) PLC

ASPH.N0000

118

THREE ACRE FARMS PLC

TAFL.N0000

56

J.L. MORISON SONS & JONES (CEYLON) PLC

MORI.N0000

119

TOKYO CEMENT COMPANY (LANKA) PLC

TKYO.N0000

57

JOHN KEELLS PLC

 

JKL.N0000

120

UDAPUSSELLAWA PLANTATIONS PLC

UDPL.N0000

58

KAHAWATTE PLANTATIONS PLC

 

KAHA.N0000

121

UNION CHEMICALS LANKA PLC

UCAR.N0000

59

KALAMAZOO SYSTEMS PLC

 

KZOO.N0000

122

UNITED MOTORS LANKA PLC

UML.N0000

60

KELANI CABLES PLC

 

KCAB.N0000

123

VALLIBEL POWER ERATHNA PLC

VPEL.N0000

61

KELANI TYRES PLC

 

TYRE.N0000

124

VIDULLANKA PLC

VLL.N0000

62

KELANI VALLEY PLANTATIONS PLC

 

KVAL.N0000

125

WATAWALA PLANTATIONS PLC

WATA.N0000

63

KOTMALE HOLDINGS PLC

 

LAMB.N0000

     

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

Commodity Outlook

Sep-14 1250.00 1200.00 1150.00 1100.00 Gold price movement USD/oz Mar-15 Feb-15 Jan-15 Dec-14 1300.00 Aug-14 Jul-14
Sep-14
1250.00
1200.00
1150.00
1100.00
Gold price movement
USD/oz
Mar-15
Feb-15
Jan-15
Dec-14
1300.00
Aug-14
Jul-14
Jun-14
May-14
Apr-14
Mar-14
1400.00
1350.00
Oct-14
Nov-14
70 55 40 Crude oil price movement 85 Mar-15 Jan-15 Nov-14 Sep-14 Jul-14 May-14 Mar-14 115
70
55
40
Crude oil price movement
85
Mar-15
Jan-15
Nov-14
Sep-14
Jul-14
May-14
Mar-14
115
100
USD/Barrel
Jan-12 750 650 550 Palm oil price movement USD/MT Jan-15 Jul-14 Jan-14 Jul-13 Jan-13 850 Jul-11
Jan-12
750
650
550
Palm oil price movement
USD/MT
Jan-15
Jul-14
Jan-14
Jul-13
Jan-13
850
Jul-11
Jan-11
Jul-10
Jan-10
1250
1150
1050
950
Jul-12
Commodity Outlook Sep-14 1250.00 1200.00 1150.00 1100.00 Gold price movement USD/oz Mar-15 Feb-15 Jan-15 Dec-14 1300.00

Atchuthan Srirangan

atchuthan@gihcapital.com

Feb-15 Sliver price movement USD/oz Mar-15 Jan-15 Dec-14 Nov-14 Oct-14 Sep-14 Aug-14 Jul-14 May-14 Apr-14 Mar-14
Feb-15
Sliver price movement
USD/oz
Mar-15
Jan-15
Dec-14
Nov-14
Oct-14
Sep-14
Aug-14
Jul-14
May-14
Apr-14
Mar-14
23.50
22.00
20.50
19.00
17.50
16.00
14.50
Jun-14
+94 117 452 800
Jul-10 130 Rubber price movement LKR/pound Jan-15 Jul-14 Jan-14 Jul-13 Jul-12 Jul-11 Jan-11 Jan-10 330 280
Jul-10
130
Rubber price movement
LKR/pound
Jan-15
Jul-14
Jan-14
Jul-13
Jul-12
Jul-11
Jan-11
Jan-10
330
280
230
Jan-13
Jan-12
180
80
Jan-11 movement 500 Sri Lanka tea price LKR/Kg Jan-15 Jul-14 Jul-13 Jan-13 Jul-12 Jan-12 Jul-11 250
Jan-11
movement
500
Sri Lanka tea price
LKR/Kg
Jan-15
Jul-14
Jul-13
Jan-13
Jul-12
Jan-12
Jul-11
250
Jul-10
Jan-10
Jan-14
450
400
350
300

Source : GIH Capital Research

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

FOREX Outlook

FOREX Outlook Atchuthan Srirangan atchuthan@gihcapital.com Exchange Rates vs. LKR Mar-14 Mar-15 1 Year App / (Dep)

Atchuthan Srirangan

 

atchuthan@gihcapital.com

Exchange Rates vs. LKR

Mar-14

Mar-15

1 Year App / (Dep) (%)

 

USD

130.69

132.90

-1.69%

GBP

217.38

196.60

9.56%

EURO

179.74

143.87

19.96%

YEN

1.27

1.11

12.93%

AUD

120.92

101.59

15.99%

CAD

118.25

104.72

11.45%

INR

2.18

2.12

2.66%

BHD

346.66

352.50

-1.68%

CNY

21.02

21.42

-1.94%

-1.94%
133.50 USD-LKR Mar-2015 Jan-2015 Nov-2014 Sep-2014 Jul-2014 May-2014 134.50 134.00 133.00 132.50 132.00 131.50 131.00 130.50
133.50
USD-LKR
Mar-2015
Jan-2015
Nov-2014
Sep-2014
Jul-2014
May-2014
134.50
134.00
133.00
132.50
132.00
131.50
131.00
130.50
130.00
Mar-2014
Mar-2014 GBP-LKR 215.00 195.00 200.00 205.00 210.00 220.00 225.00 May-2014 Jul-2014 Sep-2014 Nov-2014 Jan-2015 Mar-2015
Mar-2014
GBP-LKR
215.00
195.00
200.00
205.00
210.00
220.00
225.00
May-2014
Jul-2014
Sep-2014
Nov-2014
Jan-2015
Mar-2015
180.00 EUR-LKR Mar-2015 Jan-2015 Nov-2014 Sep-2014 Jul-2014 May-2014 Mar-2014 185.00 175.00 170.00 165.00 160.00 155.00 150.00
180.00
EUR-LKR
Mar-2015
Jan-2015
Nov-2014
Sep-2014
Jul-2014
May-2014
Mar-2014
185.00
175.00
170.00
165.00
160.00
155.00
150.00
145.00
140.00
1.15 1.10 1.05 1.20 JPY-LKR Mar-2015 Jan-2015 Nov-2014 Sep-2014 Jul-2014 May-2014 Mar-2014 1.30 1.25
1.15
1.10
1.05
1.20
JPY-LKR
Mar-2015
Jan-2015
Nov-2014
Sep-2014
Jul-2014
May-2014
Mar-2014
1.30
1.25

Source : GIH Capital Research

© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.

DISCLAIMER

DISCLAIMER Important Information Atchuthan Srirangan atchuthan@gihcapital.com This publication, issued by GIH Capital Limited (GIHCapital) is based

Important Information

Atchuthan Srirangan

atchuthan@gihcapital.com

This publication, issued by GIH Capital Limited (GIHCapital) is based on publicly available information, information sources and data

+94 117 452 800

(“the information”) whose reliability is beyond question. Nonetheless, GIHCapital accepts no responsibility, either express or implied, for errors or incompleteness of the information provided. Possible errors in this information do not constitute grounds for liability, either directly or indirectly. In particular, neither GIHCapital nor its shareholders or employees are responsible for the accuracy or continuing accuracy of the opinion, appraisals, conclusions, plans or details of investment funds , their investment strategies, the economic environment, the market, competitive or regulatory environment or etc. Even if this publication has been issued in the context of an existing contractual relationship, GIHCapital’s liability is restricted to gross negligence or willful misconduct. Furthermore, GIHCapital accepts nor liability for minor errors of fact. In any case, the liability of GIHCapital is limited to typical expectable damages, and liability for indirect damage is expressly excluded.

This publication is a marketing communication from GIHCapital which is purely for information purposes and which does not claim to represent a comprehensive portrayal of product/investment characteristics. This publication does not constitute a quotation, an offer or a solicitation of an offer for the purchase or sale of an investment or other specific product, and is not a substitute for obtaining advice and a risk appraisal from your personal advisor - which we expressly recommend before making any investment decision. GIHCapital may at any time perform services to buy, sell, subscribe to or redeem funds which are mentioned in this publication, or act as a client or authorized representative. It is possible that GIHCapital may receive sales commissions or portfolio management fees in respect of certain products referred to in this publication.

Although GIHCapital has taken steps to avoid or disclose conflicts of interest, GIHCapital can give no guarantees in this regard. Therefore GIHCapital accepts no liability for damages arising from such conflicts of interest. If the organizational or administrative measures taken by GIHCapital should, on the basis of reasonable judgment, be deemed to be insufficient to guarantee the avoidance of a risk of damage to client interests, then GIHCapital will unambiguously clarify the type and/or cause of the conflicts of interest to the client. It is impossible to rule out the possibility that a business connection may exist between a company which is subject of research and a company within the GIHCapital and or its subsidiaries/affiliates, from which a potential conflict of interest could result. As a client, you will be informed of any relevant potential conflicts of interest in financial research distributed by the GIHCapital. Discrepancies may emerge in respect of our own financial researches from the preceding publication, relating to the same financial instruments or issuers.

Investment

Before you make an investment, we recommend that you obtain detailed information about the investment and the nature of the risks involved. Investments should only be made on the basis of the current prospectus. This document must not be transferred to persons in a country other than the country where you received the said document. If persons resident other countries receive this report, then they must observe the applicable sales restrictions for the products in question. Opinion expressed in the publication and prices quoted can be changed at any time without prior notice.

The entire content of this publication is protected by copyright law (all rights reserved). The use, modification or publication is whole or part of this document is only permitted for private, non-commercial purposes by the interested party.

GIH Capital Limited Research Division Level 01, No. 14, 16th Lane, Colombo 03, Sri Lanka. T: +94-11-7 45 28 00 F: +94-11-7 45 28 01 E: research@gihcapital.com

About Us

GIH Capital Limited (GIH Capital) is a boutique, multi-disciplinary Islamic investment management and advisory firm licensed by the Securities & Exchange Commission (SEC) of Sri Lanka as a Market Intermediary under the category of an Investment Manager. GIH Capital specializes in both traditional and alternative investment instruments and offers high degree of sophistication in managing clients’ funds with an overall view of establishing a well diversified portfolio and generating an acceptable risk-adjusted rate of returns.

GIH Capital is a subsidiary of Guardian Investment Holdings (Pvt.) Limited (GIH).

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© 2015 GIH Capital is a Limited liability company registered with Securities and Exchange commission of Sri Lanka (SEC). All rights reserved.