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Long prevailed dull sentiments further extended to this week resultant from investors adapting a cautious wait-and-see approach in the midst of significant volatility that can be caused by the Expropriation Bill and upcoming Budget.
Investors have placed more concerns over the Budget due to the Government’s high emphasis on reducing the trade deficit, which can give rise to hikes in taxes, etc.
The Expropriation Bill to take over underperforming enterprises and underutilised assets has also created some volatility in the market. However, during mid week the Expropriation Bill was passed through Parliament, resulting in halting trading in Hotel Developers (Lanka) and Pelwatte Sugar Industries.
We also observed that investors were not responding positively towards favourable September quarterly results. Bearing all these we advise our investors to gain the advantage of discounted prices prevailing in the market in fundamentally-sound blue chip and growth stocks and to hold on to those investments towards the longer term, which has already been the strategy of few institutional, high net worth and foreign investors.
(Excerpts from Asia Wealth Management’s Weekly Report)
Asia Wealth’s recommendations
Tokyo Cement
Colonial Motors
Expolanka Holdings
John Keells Holdings
Asian Hotels
CIC Holdings
Commercial Bank
Distilleries Company
HNB
Chevron Lubricants
LB Finance
Royal Ceramics
Sampath Bank
You may also like to read
Pelwatte Sugar delays Rs. 306 m Rights pending bill
Stocks down on asset takeover bill
http://www.ft.lk/2011/11/14/%E2%80%9Cfundamental-stock-picking%E2%80%9D-call-of-the-hour-says-asia-wealth/
Investors have placed more concerns over the Budget due to the Government’s high emphasis on reducing the trade deficit, which can give rise to hikes in taxes, etc.
The Expropriation Bill to take over underperforming enterprises and underutilised assets has also created some volatility in the market. However, during mid week the Expropriation Bill was passed through Parliament, resulting in halting trading in Hotel Developers (Lanka) and Pelwatte Sugar Industries.
We also observed that investors were not responding positively towards favourable September quarterly results. Bearing all these we advise our investors to gain the advantage of discounted prices prevailing in the market in fundamentally-sound blue chip and growth stocks and to hold on to those investments towards the longer term, which has already been the strategy of few institutional, high net worth and foreign investors.
(Excerpts from Asia Wealth Management’s Weekly Report)
Asia Wealth’s recommendations
Tokyo Cement
Colonial Motors
Expolanka Holdings
John Keells Holdings
Asian Hotels
CIC Holdings
Commercial Bank
Distilleries Company
HNB
Chevron Lubricants
LB Finance
Royal Ceramics
Sampath Bank
You may also like to read
Pelwatte Sugar delays Rs. 306 m Rights pending bill
Stocks down on asset takeover bill
http://www.ft.lk/2011/11/14/%E2%80%9Cfundamental-stock-picking%E2%80%9D-call-of-the-hour-says-asia-wealth/
