Speculation was that HNWI Imtiaz Buhardeen, who sold half of his estimated 15% stake in Sierra Cables by Wednesday, was using the cash to pick up quantities in PAP on Tuesday as well as Vallibel Power Erathna yesterday. His foray into the renewable energy sector has elicited interest with some brokers suggesting he was likely to pick up more quantity at correct prices.
Analysts said increased interest in the power sector is due to the fact that it has performed very well in the past year, and the sector is proven to be insulated from the negative effects of COVID-19 economic slowdown.