Turnover boosting crossings?

rishanpossitive · 1 Turnover boosting crossings? Thu Mar 01, 2012 7:17 pm

rishanpossitive

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Bitter truth of CSE. right now broker huts and SEC people are the winners of CSE.Are these crossings for turnover boost??.Look at the number of trades per day.Very funny.When market picked up momentum new system killed it.(cunning system).Now they are robbing us.SEC what are you doing.??This software is eating the market.Shows wrong data,splits, and sometimes stops saying market close.You take ages to take decisions and fill vacancies(where's next Malik Very Happy

) and at the end take the wrong decision always.God save poor retailers.

sriranga · 2 Crossings - 01/03/2012 Thu Mar 01, 2012 7:39 pm

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sapumal · 3 Re: Turnover boosting crossings? Thu Mar 01, 2012 7:40 pm

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We can describe this as follows

* DP want to buy more stake in HAYL
* He don't have money
* He is selling his stakes in RCL, LFIN ,CONN to each other and earn lot of money
* From that money he is buying HAYL

Finally what has happened is money in LFIN and RCL has come to the market. Now the money is with previous share holders and if they didn't leave the CSE that will again come to the market. Also HAYL will ended up with buying low quality assets like CONN and get downgraded ranking

I am really happy if SPEN and HAYL is bought by HJ and DP

Redbulls · 4 Re: Turnover boosting crossings? Thu Mar 01, 2012 9:55 pm

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Crossings boosting Turnover?

sriranga

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Royal Ceramics sell Hayleys and buys LB Finance
March 1, 2012, 8:35 pm
Share swaps between Mr. Dhammika Perera and related companies buoyed the Colombo bourse yesterday with turnover at Rs.2.6 billion, up from the previous day’s Rs.1.7 billion, and both indices up – the All Share by 11.59 points (0.21%) and the Milanka by 12.13 points (0.26%) with 122 losers outpacing 90 gainers.

Brokers said that big deals in Hayleys and LB Finance accounted for most of the turnover with Royal Ceramics (RCL) raising its stake in LB Finance to 25%, enabling accounting that company as an associate, and reducing its 7% stake in Hayleys to a modest 0.2 million shares by selling out to Mr. Dhammika Perera.

The Hayleys deals generated approximately Rs.1 billion which RCL used to beef-up its LB Finance stake. Analysts noted that these swaps were similar to what was done last week.

Mr. Dhammika Perera sold off his personal shares in LB Finance but Vallibel One which he controls continues to be the controlling shareholder of LB.

Brokers said that 2.7 million Hayleys were crossed yesterday at a price of Rs.380, the price at which Mr. Dhammika Perera made a mandatory offer for Hayleys recently, while 5.9 million LB Finance were crossed at Rs.150 per share.

Additionally around a million LB Finance were traded on the floor.

Brokers said that there were two crossings of Distilleries at Rs.137 per share while JKH where nearly 0.2 million shares were traded closed Rs.2.50 up at Rs.178.

Distilleries closed Rs.3.50 up at Rs.138.50 while Hayleys closed Rs.19.90 up at Rs.379.90 and LB Finance closed Rs.2.20 up at Rs.140.20.

"If you discount the crossings and the other big trades, the rest of the market was worth just Rs.330 million demonstrating low activity levels," a broker said.

Melstacorp where a mandatory offer for Aitken Spence is pending said that its purchase of 1.3 million Spence at Rs.115 had boosted the total holding of itself and parties in concert to 167.2 million shares comprising 41.18% of Spence.
http://island.lk/index.php?page_cat=article-details&page=article-details&code_title=46455

greedy007 · 6 Re: Turnover boosting crossings? Fri Mar 02, 2012 4:42 am

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rishanpossitive wrote:Bitter truth of CSE. right now broker huts and SEC people are the winners of CSE.Are these crossings for turnover boost??.Look at the number of trades per day.Very funny.When market picked up momentum new system killed it.(cunning system).Now they are robbing us.SEC what are you doing.??This software is eating the market.Shows wrong data,splits, and sometimes stops saying market close.You take ages to take decisions and fill vacancies(where's next Malik ) and at the end take the wrong decision always.God save poor retailers.

Thanks.