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  • 7/29/2019 Daily Trade Journal -04.03

    1/7

    q

    q

    Today's Turnover (LKR mn)

    Annual Average Daily Turnover (LKR mn)

    Volume (mn)

    Annual Average Daily Volume (mn)

    Market Capitalization (LKR bn)

    Net Foreign Inflow / (Outflow) [LKR mn]

    - Foreign Buying (LKR mn)

    - Foreign Selling (LKR mn)

    YTD Net Foreign Inflow / (Outflow) [LKR bn]

    -0.2%

    3.8%

    ASPI

    S&P SL 20 Index

    - 20.8

    - 3.07

    5,631.89

    3,203.78

    ASPI

    Monday, March 04, 2013

    852.3

    % ChangePoint ChangeToday

    19.4

    1,076.1

    -0.37 %

    -0.10 %

    2,163.7

    YTD Performance

    S&P SL 20 Index

    38.2

    858.3

    0.2

    876.4

    18.1

    Level 23, East Tower, World Trade Centre,

    Colombo 01

    Tel: +94 11 727 7000,

    Fax: +94 11 727 7099

    Email: [email protected]

    CSE Diary for 04.03.2013The Colombo bourse commenced weekly operations

    on a weak note extending its downtrend from the last

    week on account of the negative market sentiments.

    However a short term bullish trend was seen in the

    final hour of trading. The benchmark index dipped 21

    points to settle at 5,631.89. Ceylon Tobacco

    Company (-1.5%) Ceylon Beverage Holdings (-14.8%)

    and John Keells Holdings (+0.1%) weighted heavily to

    losses on the indices. However S&P SL20 index

    witnessed a flat trading session where the indices

    declined marginally by 3 points to end at 3,203.78.

    Furthermore Banking sector counters such as

    Commercial Bank, Sampath Bank, National

    Development Bankand Hatton National Bankadded

    86.0% of the daily turnover.Commercial Bankemerged as the top contributor to

    the daily turnover backed up by six off-market

    transactions accounting for 4.2 mn shares dealt atLKR110.0. The counter attracted heavy investor

    interest during trading hours where it was lifted by

    0.5% to end days trading at LKR 109.6. In addition,

    persistent interest was seen in other banking heavy

    weights led by Sampath Bank (+0.3%), National

    Development Bank(-0.1%) and Hatton National Bank

    (+0.1%). Moreover Sampath Bank lifted the market

    turnover with a single off-the-floor deal of 1.2mn

    shares at a price of LKR237.0 while the counter closed

    flat at LKR235.0.Premier Blue-chip John Keells Holdings was trading on

    a thin volume with 29k shares changing hands. The

    counter was trading on a tight range where it traded

    at a high of LKR236.0 and a low of LKR233.3 before

    settling down for the day at LKR233.9.The leading tile manufacturer, Royal Ceramic

    witnessed notable level of buying interest where it

    recorded a mid-size on-board block of 50k shares at

    a price of LKR97.0. The counter is currently trading at

    a forward PE of 5.4x on FY14E earnings.

    Market in red; Banking sectordominates trading

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    Statistical Look Up

    Treasury Bill (%) 01.03.2013

    9.10

    10.08

    11.10

    14.42

    Inflation (%) Feb-13 9.8

    8.6

    All Share Price Index q

    S&P SL20 Index q

    Turnover (LKR mn)

    Turnover (USD mn)Volume (mn shares)

    Traded Entities

    Market Capitalization (LKR bn)

    Foreign Purchases (LKR mn)

    Foreign Sales (LKR mn)

    Net Foreign Inflow (LKR mn)

    Market PER (X)

    Market PBV (X)

    Market Dividend Yield

    SECTOR INDICES

    Banks, Finance & Insurance p

    Beverage, Food & Tobacco q

    Construction & Engineering q

    Diversified q

    Healthcare p

    Hotels & Travels q

    Land & Property q

    Manufacturing q

    Plantation q

    Telecom q

    595.9 574.8 3.68% 604.1 -1.36%

    771.1 782.9 -1.51% 791.0 -2.52%

    2,607.9

    3,404.9

    -0.94%

    3,343.9

    462.9

    -0.87%2,571.5

    3 months

    6 months

    12 months

    YoY Change

    Annual Avg

    AWPLR

    Excess Liquidity (LKR 'bn) as at 04.03.2013

    Today

    -40.65

    167.7

    2.4

    2,549.1

    15,633.3

    2,787.2

    1,847.3

    12,757.6

    Pre Day

    0.00%

    168.8 172.7-0.60%

    12,772.0

    15,822.6

    1,856.1

    3,362.3

    467.2

    -0.55%

    2,794.7

    1,883.9

    0.36%

    -1.20%

    -0.80%

    -0.48%

    2,809.7

    16,175.6

    476.5

    83.3

    407.6

    -324.4

    Change %

    5,652.7

    3,206.9

    2.3

    -0.37% 15.5

    Pre Day

    Week ending

    -0.27%

    53.47%

    -0.44%

    -1.81%

    -0.60%

    -1.81%

    228

    2,203.5

    5,735.6

    3,223.3

    12.6

    -1.80%

    4.35%

    -0.10%

    2,163.7

    2.4

    876.4

    59.68%

    59.68%17.75%

    -4.62%

    8.419.4

    227

    3,203.8

    673.9

    5.3

    238

    1,076.1

    -0.37%

    952.29%

    -95.56%

    Today

    858.3

    2.1

    18.1

    15.2

    5,631.9

    2,171.7

    16.5

    258.61%

    258.61%

    % WoW

    ChangeLast Week

    300.1

    2.4

    -0.11%

    -3.35%

    -0.37%

    -2.87%

    -1.94%

    -1.79%

    -2.86%

    % WoW

    ChangeLast Week

    -1.81%

    648.65%

    -20.82%

    811.16%

    117.1

    -2.25%

    2.1

    22.9

    94.2

    12,711.7

    % Change

    -0.36%2.1

    -364.63%

    15.3

    5500

    5600

    5700

    5800

    5900

    Index

    ASPI

    3140

    3160

    3180

    3200

    3220

    3240

    3260

    3280

    3300

    Index

    S&P SL20

    0.0

    20.0

    40.0

    60.0

    80.0

    100.0

    120.0

    140.0

    0

    1,000

    2,000

    3,000

    4,000

    Volume('mn)

    TurnoverLKR('mn)

    Turnover Volume

    Softlogic Equity Research Page | 2.

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    High Index Calibre USD350 Mn

    Price Gainers Price Losers

    Top 05 Performers for the Day

    COMMERCIAL BANK

    SAMPATH

    NAT. DEV. BANK

    HNB

    ROYAL CERAMIC

    Most Active

    264.00 + 48.60 22.56% ENVI. RESOURCES [W0003] 1.40 - 0.40 -22.22%

    -11.29%

    -13.89%

    -21.05%

    -14.80%

    68.90

    47.00

    47.90

    + 5.90

    5.80

    Today Pre Day

    109.00

    235.10

    2.40

    + 2.20

    DISTILLERIES

    11,304

    1,321,168

    COMMERCIAL BANK 109.90

    Company

    5,495

    16,583

    40

    TEA SMALLHOLDER

    RENUKA SHAW [X]

    Company Today

    1.5%

    SIGIRIYA VILLAGE

    ASIRI CENTRAL

    5,064,264

    1,371.75

    5.83

    1,143 852.85

    1.4%

    Change

    15.80

    Company% of

    Mkt CapVolume

    54.09

    0.00%

    0.00%

    235.90

    -0.07%

    1.8%

    2.2%

    Change

    - 0.80

    - 69.50

    - 0.50

    - 9.60

    % Change

    236.00

    149.00

    99.00

    145.10

    CARGO BOAT

    + 4.50

    CEYLON LEATHER [W0014]

    69.90

    121.60

    1,620.50

    109.90

    440.101,625.10

    13,801.54

    977.91

    4.0%

    2.2%

    1.2%

    564

    317,593

    92,662

    1,155

    4.0%

    178.00

    59.90

    3.4%

    177.90

    56.70

    440.00

    3.5%

    6.69

    1,620.00

    110.00

    137.86

    1.43

    LOLC

    AITKEN SPENCE 123.00

    2.5% 7.67

    181.91

    149.20

    649.44469.54

    5.103.68

    440.00

    705.60

    9.10

    JOHN KEELLS HOLDINGS 29,254

    SAMPATH BANK

    ASIAN HOTELS & PROPERTIES 21,735

    1.5%

    1,476289

    4,274

    9.2%

    6.5%CEYLON TOBACCO

    CARSON CUMBERBATCHNESTLE LANKA

    SRI LANKA TELECOM

    COMMERCIAL BANK [V]

    4.0%

    3.3%BUKIT DARAH

    DIALOG AXIATA

    HNB [V]

    DFCC BANK

    CARGILLS

    Turnover

    USD ('000)

    3.0016.18%

    Intraday

    Low (LKR)

    Turnover

    LKR ('000)

    557,003.04

    956.07

    4,371.20

    3.12

    740.00

    6,892.14

    Intraday

    High (LKR)

    236.00

    1.08

    119.10

    233.50

    119.00

    177.90

    43.00

    9.00

    % Change

    1,514.52

    108.31

    397.88

    2,858.35

    7.50

    Today

    9.37%

    Turnover

    (LKR)

    145.80

    22.43

    0.05

    109.00

    56.70

    145.80

    42.50

    312,903.42

    70.00

    235.90

    148.60

    42.50

    705.40

    69.50

    3.10

    75.40

    TodayCompany

    145.80

    CEYLON LEATHER [W0013]

    400.00

    2,455.58

    11.89

    312,903,423

    2,950,485

    10.77

    LIGHTHOUSE HOTEL

    CEYLON BEVERAGE

    Pre Day

    0.83%109.00 25.7%5.06

    Volume (mn)% Change

    10.59%

    + 5.80 13.78%

    109.90

    CompanyContribution to

    Total T/O

    122.00

    0.1%

    0.1%

    1.20

    5.06

    1.32

    2.70

    0.34%235.10

    0.34

    0.090.07%

    0.69

    0.83%

    0.34%

    4.17%

    0.6%

    0.5%

    14.5%

    Contribution to

    Total T/O

    1,852,070

    -2.02%

    5.80

    PANASIAN POWER 2.70

    145.00

    149.10

    97.00

    FREE LANKA 2.50

    SAMPATH 235.90

    % Change

    VALLIBEL

    557,003,039

    13,801,536

    9,936,790

    312,903,423

    49,550,092

    1.10

    1.32

    0.10

    0.3% 6,387,241

    557,003,039

    14.5%

    Volume (mn)

    25.7%

    Turnover

    (LKR)

    2.3%

    149.10

    119.00

    705.50

    9.00

    750.00

    Close

    233.90

    746.20

    233.30

    Softlogic Equity Research Page | 3.

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    Currency Board Announcements

    Local - Indicative Rate against LKR Dividends

    Dollar No Announcements

    Yuan 0

    Euro 0

    Rupee 0

    Yen 0

    Ringgit 0

    Rouble 0

    Riyal 0

    Dollar Rights Issues / Scrip Dividend / Sub division / Capitalization

    Franc Company

    Baht Commercial Credit an

    Pound 0

    Dollar 0Source: www.cbsl.gov.lk

    Global Markets

    p

    p

    q

    q

    p

    q

    * Time is as at ET Source: www.bloomberg.com

    Commodit Markets

    Crude Oil (Brent) p

    Crude Oil (WTI) q

    ICE Cotton #2 q

    CBOT Wheat q

    COMEX Gold p

    COMEX Silver p

    COMEX Copper p

    * Time is as at ET Source: www.bloomberg.com

    Australia

    1,576.50 4.00

    METALS

    ENERGY

    Commodity

    22,537.8

    Units

    0

    -10.2

    Proportion

    00-Jan-00

    00-Jan-00

    0.00

    0.00

    0.25%

    0.23%

    35.2

    Russia

    Saudi Arabia

    Japan

    350.40

    USD/t oz.

    USD/t oz. 0.21

    715.75

    0.35

    28.71

    Index

    Dow Jones Industrial Average

    S&P 500 Index

    EUROPE

    EURO STOXX 50 Price EUR

    11,652.3

    Value

    14,089.7

    1,518.2

    USD/bbl.

    USd/lb.

    USd/lb.

    AMERICA

    -5.00

    3.5

    Change

    -0.32%-0.27

    0

    -0.17

    Change %

    0.10%

    Change %

    -0.69%

    0.74%

    0.08%

    -0.19%

    0.40%

    -1.50%

    0.25%

    06:00

    06:00

    06:00

    0-Jan

    0-Jan

    05:49

    05:50

    Time*

    05:59

    05:59

    05:59

    -0.48%

    06:00

    Company

    00-Jan-00

    1/0/1900

    28-03-2013

    6,349.6

    Singapore

    Switzerland

    Thailand

    UK

    0.09

    -342.4

    01 for 10.9037

    2,607.3

    135.19

    1/0/1900

    1/0/1900

    4.27

    USA

    01:28

    -30.5

    1/0/1900

    Change

    -0.39%

    45.9

    03:01

    0

    Payment DateDPS (LKR) XD Date

    191.55

    0.00

    0.00 0

    0

    127.43

    0.0033.98

    Malaysia

    4.15

    129.52

    20.47

    2.32

    1.36

    40.99

    India

    Currency

    165.81

    Indicative Rate

    04.03.2013

    China

    0

    USd/bu.

    85.13

    Price

    110.50

    90.51

    USD/bbl.

    102.44

    AGRICULTURE

    Hong Kong Hang Seng Index

    Nikkei 225

    ASIA

    FTSE 100 Index

    EU

    00-Jan-00

    1/0/1900

    1/0/1900

    00-Jan-00

    Description

    0.00

    0.00

    Capitalalization 27-03-2013

    0

    XR Date

    00-Jan-00

    00-Jan-00

    00-Jan-0000-Jan-00

    Renunciation

    00-Jan-00

    0.00

    Time*

    00-Jan-00

    Softlogic Equity Research Page | 4.

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    Softlogic Equity Research Page | 5

    CSE Announcements

    Cargills [CARG: LKR145.8]: Millers Brewery Ltd (MBL), a wholly-ownedsubsidiary of CARG has on the 25th of February 2013, entered into an

    Agreement with Carlton United Breweries Ltd of Australia (CUB), a subsidiary of

    SABMiller of London and Johannesburg whereby MBL will produce CUB'SFOSTERS Lager under license for distribution and sale in the territory of Sri

    Lanka.

    LB Finance [LFIN: LKR146.7]:Ms Anandhiy Krishnajina Gunewardena was appointed as Independent Non-Executive Director of LFIN with effect from 1st March 2013.

    Kegalle Plantations [KGAL: LKR110.1]: RPC Plantation Management Services Private Limited purchased208,310 shares of KGAL at a purchase price of LKR23,568,207 on 27

    thFebruary 2013. Consequently, its

    shareholding in KGAL has increased to 71.39%.

    Local News

    China Exim Bank signs USD200 mn loan to put Matara-Beliatta on track: The Exim Bank of China hassigned the relevant Loan Agreement with the Government of Sri Lanka indicating its agreement to provide

    USD200 mn under Preferential Buyers Credit facility to finance the Matara-Beliatta Section of the Matara-

    Kataragama Railway Extension Project. This is following the Chinese Government on request from the

    Government of Sri Lanka agreeing to provide a loan of USD278.2 mn through Export-Import (Exim) Bank of

    China on concessional terms to finance Phase I of the Matara-Kataragama Railway Extension Project. The

    Finance Ministry said out of the total loan amount, USD200 mn will be provided under Preferential Buyers

    Credit facility and the balance USD78.2 mn will be provided under Chinese Government concessional loanfacility. These loan facilities will be provided at an annual interest rate of 2% with a repayment period of 20

    years including a five-year grace period.

    [Source: www.ft.lk]

    India ups aid to Sri Lanka to Rs. 12.5 b via Budget: Even as the anti-Sri Lanka mood in Tamil Nadu is gettingmore belligerent, the Centre has increased its annual grant to the country in the Union Budget. The

    allocation has gone up to Rs. 500 crore (INRs. 5 bn or SLRs. 12.5 bn) for 2013-2014 from Rs. 290 crore last

    year. It was Rs. 181.94 crore in 2011-2012. The Budget has allocated Rs. 5,550 crore as aid for foreign

    governments and organisations.

    [Source: www.ft.lk]

    Sri Lanka Cairn draws blank on fourth well: Cairn Lanka (Pvt) Ltd has not found any oil in its fourthexploration well, its parent company said in a stock exchange filing. Cairn India said the well found "thick

    high quality re servoir sands, which were not hydrocarbon bearing," and it was plugged and abandoned. The

    data from the well and another two wells where petroleum was found will be used to fully understand the

    potential of the block, the firm said. Analysis of data is expected to take at least until the first quarter of next

    year, according to earlier statements.

    [Source: www.ft.lk]

    Sri Lanka to continue relaxing exchange controls: CB governor: Sri Lanka will continue to liberalise foreignexchange controls to encourage the investments needed to maintain high economic growth, Central bank

    governor Nivard Cabraal said. "The thinking now is to try to have faster growth for which we need more

    savings and investment which, if not available in our own country, we must get from outside,"he said.

    "What we are setting out is exchange liberalisation in a gradual manner - gradually giving confidence to

    outside and local investors," he told a forum on liberalizing foreign exchange controls organized by the

    Shippers' Academy Colombo. "In the next few years we will need to bring in new reforms. We have not gone

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    Softlogic Equity Research Page | 6

    too fast, nor have we gone too slow. We have been not too hot or too cold, not too hard or too soft. We will

    apply those principles in foreign exchange regulations."

    [Source: www.lbo.lk]

    Sri Lanka Mattala flights by Air Arabia: Air Arabia, a UAE based budget carrier will launch twice weeklyflights to Sri Lanka's second international airport in Mattala from March 18, a media report said. It will start

    flights between Sharjah and Mattala, Arabian Business, a Middle Eastern business news portal said. "Just afew months after our inception in 2003, we launched a direct service to Colombo, which was our first

    destination in the Subcontinent, and we are delighted to now add a second route to the country," Adel Ali,

    Group chief executive of Air Arabia was quoted as saying. "Our new service to Mattala is in direct response to

    passenger demand, and while contribute to the trade and tourism ties between UAE and Sri Lanka." The

    airline already operates nine weekly flights between Sharjah and Colombo, flying every day and twice a day

    on Tuesdays and Fridays.

    [Source: www.lbo.lk]

    Global News

    Eurozone unemployment hits 11.9%:The rate of unemployment in the eurozone rose to a fresh record highin January, official figures show. The jobless rate in the 17 countries that use the euro rose to 11.9% in

    January from 11.8% in December, the statistics agency Eurostat said. The highest rate was 27% in Greece,

    although the most recent figure there was from November, while the lowest rate was 4.9% in Austria.

    Eurostat also said eurozone inflation had fallen to 1.8% in February. The inflation figure was the lowest for

    two years, putting it in line with the European Central Bank's (ECB) inflation target of below, but close to 2%.

    Analysts said that the high unemployment and low figure for inflation would make it more likely that the ECB

    would cut its interest rates later in the year from the current rate of 0.75%.

    [Source: www.bbc.co.uk]

    China Tightening Pressure Eases as Growth Recovery Slows: China may hold off tightening monetary policyafter growth in services and manufacturing weakened, underscoring challenges for the nations leaders as

    they open the annual session of parliament tomorrow. Expansion in industries including retailing,

    transportation and banking was the slowest in five months in February, an official survey of purchasing

    managers showed yesterday. Gauges released March 1 pointed to manufacturing growth cooling. The

    recent batch of data suggest the current recovery is relatively weak compared to past ones, which means the

    government may delay the timing of monetary tightening to support growth,said Chief China economist at

    Nomura Holdings Inc. in Hong Kong.

    [Source: www.bloomberg.com]

    http://www.lbo.lk/http://www.lbo.lk/http://www.lbo.lk/http://www.lbo.lk/
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    Softlogic Equity Research Page | 7

    Softlogic Equity ResearchDimantha Mathew

    [email protected]

    +94 11 7277030

    Kavindu Ranasinghe

    [email protected]

    +94 11 7277031

    Imalka Hettiarachchi

    [email protected]

    +94 11 7277032

    Softlogic Equity SalesBranches

    Horana

    Madushanka Rathnayaka

    No. 101, 1/1, Aguruwathota Road, Horana

    [email protected]

    +94 34 7451000, +94 77 3566465

    Negambo

    Krishan Williams

    No. 121, St. Joseph Street Negambo

    [email protected]

    +94 31 2224714-5, +94 77 3569827

    Kurunegala

    Bandula Lansakara

    No.13, Rajapihilla Mawatha, Kurunegala

    [email protected]

    +94 37 2232875, +94 77 3615790

    Matara

    Lalith Rajapaksha

    No.8A, 2nd Floor, FN Building, Station Road, [email protected]

    +94 41 7451000, +94 77 3031159

    Dihan Dedigama

    [email protected]

    +94 11 7277010, +94 77 7689933

    Chandima Kariyawasam

    [email protected]

    +94 11 7277058, +94 77 7885778

    Shafraz Basheer

    [email protected]

    +94 11 7277054, +94 77 2333233

    Sonali Abayasekera

    [email protected]

    +94 11 7277059, +94 77 7736059

    Thanuja De Silva

    [email protected]

    +94 11 7277053, +94 77 3120018

    The report has been prepared by Softlogic Stockbrokers (Pvt) Ltd. The information and opinions contained herein has been compiled or arrived at based upon

    information obtained from sources believed to be reliable and in good faith. Such information has not been independently veri fied and no guaranty, representation

    or warranty, express or implied is made as to its accuracy, completeness or correctness. All such information and opinions are subject to change without notice. This

    document is for information purposes only, descriptions of any company or companies or their securities mentioned herein are not intended to be complete and

    this document is not, and should not be construed as, an offer, or solicitation of an offer, to buy or sell any securities or other financial instruments.

    Softlogic Stockbrokers (Pvt) Ltd may, to the extent permissible by applicable law or regulation, use the above material, conclusions, research or analysis in which

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    respective directors, officers, representatives, employees, related persons and/or Softlogic Stockbrokers, may have a long or short position in any of the securities or

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    such securities or other financial instruments from time to time in the open market or otherwise, in each case either as principal or agent. Softlogic Stockbrokers

    may make markets in securities or other financial instruments described in this publication, in securities of issuers described here in or in securities underlying or

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