Saturday Dec 14, 2024
Saturday Dec 14, 2024
Monday, 12 October 2020 00:20 - - {{hitsCtrl.values.hits}}
Strong retail interest has propelled Expolanka Holdings to the league of Top 30 companies by market capitalisation whilst the company saw 11% of its stake traded last week.
Bettering its price weekly since early September, Expolanka saw 213.3 million of its shares traded for Rs. 2.7 billion last week.
It was the second most traded stock in terms of value last week behind premier blue chip John Keells Holdings.
Expolanka price closed at Rs. 14.60, up Rs. 1.10 and intra-week established a new 52-week high price of Rs. 15.10. Expolanka share price closed the 30 June quarter at Rs. 3.20 whilst its net asset per share was Rs. 2.12.
In the week ended 2 October, Expolanka saw 109.4 million of its share traded as well.
ARRC Capital has emerged as sixth largest shareholder with 16.2 million shares or 0.84% stake acquired in recent weeks. High net worth investor Nimal Perera also figures in the top 20 shareholders with 5 million shares. Suren Amarasekera too has acquired 4.2 million shares.
Given widespread interest partly on fundamentals and speculation, at Rs. 11.50 per share, Expolanka in September entered the league of Top 30 most valuable stocks with a market capitalisation of Rs. 22.48 billion and ranked at 27th from 52nd place in August.
Amidst challenging external environment Expolanka Holdings in the 1Q of FY2021 reported a revenue of Rs 36.2 billion up 58% YoY. It also posted a Gross Profit of Rs 6.2 billon and a Profit after Tax of Rs 1.7 billion, the latter a 494% increase YoY. Its core logistics business led the performance for the group, posting strong earnings whilst the leisure and investment sectors remained subdued during the reporting period.
Among other new entrants were two companies controlled by business leader Dhammika Perera; Hayleys PLC at number 30 and Vallibel One at number 26.
