EPF steps up buying into JKH

Reaffirming its bullishness on prospects, EPF has stepped up buying further into Sri Lanka’s premier blue chip John Keells Holdings (JKH).

Yesterday EPF picked up the bulk of the 2.36 million shares of JKH which traded for Rs. 656 million whilst on Tuesday it bought slightly over one million JKH shares.

The major seller has been a foreign fund. JKH (XD) yesterday closed at Rs. 275.40, down by Rs. 7.20. On Friday JKH’s closing price was Rs. 289.70 reflecting a dip of Rs. 14.30.

EPF as at 31 December 2010 was holding 35.5 million shares or a 5.7% stake in JKH, thereby remaining as the third biggest shareholder.

EPF also bought 1 million Royal Ceramics shares for Rs. 150 million.