I already published 2 articles Nov 8th and Nov 17th before the budget. If anyone missing those, below is the links for your reference.
Even though I’m foreigner, in my articles I clearly highlighted this price drop in advance. Many people personally inbox me and thank for early announcement.
But unfortunately, few of our experts they did not believe, what I was telling. But no one has doubt now. This 2016 budget clearly shows us, government has release the import tax for tile sector.
Government wants destroy this Tile sector monopoly from Dammika Perera. Below article will help you understand further.
Sri Lanka has removed import tariff protection for highly profitable domestic ceramic tile manufacturers, an effective monopoly controlled by the Royal Ceramics group, according to the government’s 2016 budget and analysts.
This RCL share will further down till LKR 70 - 80 before the end of February 2016.
My advice is, think wisely do proper environment analysis and select your portfolio.
Financial statements represents only 35 % share price movements up or down. Other factors are environment analysis.
The real example is this RCL.N0000 share price drop. They are financial reports show significant values. But end of the day still share price drops.