weekly plus - 2013 issue 46 (15.11.2013)
TRANSCRIPT
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
1/12
2013 Issue 46 Week Ending 15-11-2013
Weekly Market Wrap UpStat Page Pg 02
Weekly Stock Trends Pg 03
S&P SL20 Watch Pg 04
Local Economy in BriefCurrency Moves Pg 05
Inflation & Interest Rates Pg 06
Colombo Tea Auction Pg 06
Tourism Pg 06
Global MarketEquity Market Outlook Pg 07
Global Commodity Trend Pg 08
Research Chat:Sampath Bank -Quick View Pg 09
Our Core Coverage Pg 10-Pg 11
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
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Current WoW %
ASPI 5810.97 -1.0%
S&P SL20 3174.68 -2.1%
Turnover (LKR 'bn) 2,247.7 -36.5%
Volume ('mn) 131.1 -10.9%
Market Cap. (LKR 'bn) 2,417.4 -0.7%
LKR ('mn) Current WoW %
Foreign Purchases 520.0 -61.5%
Foreign Sales 636.3 -66.9%
Net Foreign Inflow -116.3 -79.7%
Foreign Participation 22% -4.2%
Net Foreign 675 -116
Current WoW %
PER 15.2 -2.0%
PBV 2.0 -2.2%
DY 3.0 7.1%
Current WoW %
BANKS FINANCE & INS. 12,596.2 -0.8%
BEV. FOOD & TOBACCO 18,870.1 -0.5%
CHEM. & PHARMA. 6,429.8 -0.5%
CONS. & ENG. 2,803.8 0.5%
DIVERSIFIED 1,733.3 -2.9%
HEALTH CARE 707.5 3.5%
HOTELS & TRAVELS 3,213.3 0.4%
JKH 12.41% RICHARD PIERIS -0.18% LAND & PROPERTY 548.5 -0.8%
C T HOLDINGS 4.37% TEXTURED JERSEY -0.15% MANUFACTURING 2,867.1 -0.6%
NESTLE (+) 0.0% TOKYO CEMENT -0.40% MOTORS 14,767.1 0.8%
HNB[X.0000] (+) 0.75% PCH HOLDINGS -36.5% PLANTATIONS 706.9 -3.0%
AITKEN SPENCE 0.12% NATION LANKA -2.81% TELECOM 158.6 -0.2%
Growth in
Value
LKR 'mn
12815.0
114.7
32.1
26.3
24.8
-6.3
-6.0
-3.0
-2.8
-572
3243.71
3538.19
15.5
2.1
2.8
Previous
12,699.9
18,960.2
-572.0
23%
1,351.0
1,923.0
147.21
2435.04
Previous
Weekly Stat Page
Previous
Weekly Market Statistics
Weekly Foreign Flow
Weekly Market Valuations
Weekly Sector Statistics
Decline in
Foreign
Holding 3,201.9
2,884.9
14,656.0
Previous
5870.47
728.9
158.9
445
552.9
Change in Foreign Holding
Decline in
Value
LKR 'mn
Decline in Foreign Holding
Growth in
Foreign
Holding
Growth in Foreign Holding
2,789.3
1,785.7
683.3
6,459.5
-13.8
5,700
5,750
5,800
5,850
5,900
5,950
6,000
Daily Index Movement
ASPI
0
50
100
150
200
250
300
350
0
1,000
2,000
3,000
4,000
5,000
25-Oct 1-Nov 8-Nov 15-Nov
('Mn)
LKR('Mn)
Weekly Turnover and Volume
Turnover (LHS) Volume (RHS)
0
500
1,000
1,500
2,000
2,500
25-Oct 1-Nov 8-Nov 15-Nov
LKR('Mn)
Weekly Foreign Purchases and Sales
Foreign Buying Foreign Sales
0%
10%
20%
30%
40%
50%
60%
70%
Daily Foreign Activity
Fo re ign Activity Line ar (F oreign Activity)
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
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Company WoW %
S M B LEASING[NON V 33.33%
SAMSON INTERNAT. 26.71%
THREE ACRE FARMS 17.26%
ASIRI CENTRAL 15.54%S M B LEASING 14.29%
Company WoW %
MASKELIYA -18.90%
MADULSIMA -13.85%
MIRAMAR -13.58%
TOUCHWOOD -13.16%
MALWATTE[NON VOTI -13.04%
Company WoW %
JKH -4.10%
CEYLON GUARDIAN 3.65%
DIALOG 1.11%
C T HOLDINGS 0.13%
SAMPATH -3.62%
Company WoW %
DIALOG 1.11%
PCH HOLDINGS 0.00%
TOUCHWOOD -13.16%
ASIRI 3.92%
PANASIAN POWER 0.00%
3.80
15.30
2.50
Current
9.10
1.50
3.30
15.90
2.50
15,687,538
63,100,263
9,495,162
High
9.20
1.60
3.90
15.90
2.50
9.10
149.90
165.00
Turnover
142,852,308
12,907,654
Previous
9.00
1.50
106,523,157
9.20
150.00
170.50
9.00
149.70
Current
10.30
11.20
45.80
3.30
4.00
Current
210.40
198.90
High
12.70
12.50
50.50
3.90
5.30
171.20
Previous
12.70
13.00
53.00
3.80
4.60
High
220.00
199.90
Previous
219.40
191.90
Turnover
962,353
80,891
43,026
15,687,538
4,394,517
Volume
92,620
6,905
892
4,492,922
1,004,102
Previous
0.30
80.50
30.70
251.000.70
Current
0.40
102.00
36.00
290.000.80
Weekly Stock Trends
52 Low
0.30
Weekly Top Gainers
52 HighTurnover
613,710
763,425
12,389,965
42,7832,214,916
Volume
1,889,750
8,175
341,189
1472,782,764
High
0.40
103.00
39.20
295.000.90
15,866,609
164.60
0.90
10.50
2.20
120.00
3,800,605
8.90
1.30
15,866,609
8,897,438
4,492,922
3,993,806
242.00
15.70
16.00
3.10
Weekly Top Losers
Weekly Top Performers
Weekly Top Volume
Low
Low
Low
10.10
11.20
45.50
766,935
641,470
Volume
Turnover
578,637,630
145,238,913
142,852,308
114,980,764
Volume
2,774,972
732,903
160.00
52 Low
9.70
204.00
0.50
104.90
57.00
329.901.10
3.20
15.10
2.40
Low
0.30
81.50
52 High
16.20
299.80
29.90
252.200.70
3.20
4.00
206.50
190.00
8.90
143.00
164.60
70.50
24.50
205.000.50
52 High 52 Low
52 High 52 Low
9.20 0.50
18.60 9.30
100.90 38.00
15.70 0.90
5.30 3.10
9.90 7.90
211.50 149.90
9.90 7.90
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
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DIVIDENDS
RIGHTS ISSUE
Taprobane Holdings
Senkadagala Finance
S&P SL20 Companies Previous WoW % Nanda Investments & Finance
JOHN KEELLS HOLDINGS 219.40 -4.10% Pelawatte Sugar
COMMERCIAL BANK 115.40 -2.08% ###THE BUKIT DARAH 690.00 -2.17% SCRIP DIVIDEND
HATTON NATIONAL BANK 145.00 -0.48%
CARSONS CUMBERBATCH 385.00 -2.60%
SAMPATH BANK 171.20 -3.62%
CEYLON TOBACCO COMPANY 1,061.30 -0.59%
DFCC BANK 122.00 -1.97% CAPITALIZATION OF RESERVES
AITKEN SPENCE 113.60 -3.08%
NATIONAL DEVELOPMENT BANK 152.00 -1.18%
C T HOLDINGS 149.70 0.13%
DISTILLERIES 181.70 1.27%HAYLEYS 290.00 0.34% SUBDIVISION OF SHARES
CHEVRON LUBRICANTS LANKA 265.00 0.19%
DIALOG AXIATA 9.00 1.11%
CARGILLS (CEYLON) 152.50 -1.64%
AITKEN SPENCE HOTEL HOLDINGS 65.60 4.27% CONSOLIDATION OF SHARES
NESTLE LANKA 1,939.20 -0.39%
ASIAN HOTELS & PROPERTIES 68.00 0.00%
SRI LANKA TELECOM 38.10 -1.57%
110.10
150.20
149.90
184.00291.00
265.50
9.10
150.00
68.40
Current
210.40
113.00675.00
144.30
375.00
165.00
1,055.00
119.60
0
19-11-2013
28-11-2013
12-12-2013
00-01-1900
0.12
0.58
22.50
30.00
0.00
To Be Notified1 for 4 @ LKR18.0
28-11-2013
To Be Notified
00-01-1900
Renunciation
0
XR Date
25-11-2013
18-12-2013
29-11-2013
02-12-2013
06-12-2013
Tess Agro [V & NV] 01 for 03 @ LKR1.0
Company Proportion EGM Date XC Date
0-Jan-19000-Jan-1900
0-Jan-1900 0-Jan-1900
0-Jan-1900
0-Jan-1900
0
0
0-Jan-1900
EGM Date Trading Date
1,931.70
68.00
37.50
0-Jan-19000-Jan-1900
0-Jan-1900
Office Equipment PLC
0-Jan-1900
0.30
12.40
0
Odel PLC
John Keel ls Holdings PLC (On the e
Hemas Holdings PLC
Ceylon Tobacco Company PLC
18-11-2013
18-11-2013
19-11-2013
27-11-2013
27-11-2013
27-11-2013
Payment
Proportion
Announcements
Company Dividend (LKR)
21-11-2013
21-11-2013
28-11-2013
28-11-2013
1.00
XD Date
106,523,157
11,807,766
0-Jan-1900 0-Jan-1900 0-Jan-19000-Jan-1900
0-Jan-1900
0-Jan-1900
XD DateEGM DateProportionCompany
0-Jan-1900
0-Jan-19000-Jan-1900
11,485,361911,940
S & P SL20 Debrief
8,733,283
13,587,280
2,068,147
0-Jan-1900
Metropolitan Resource Holdings P
The Nuwara Eliya Hotels Company
11-11-201301 for 03 @ LKR3.0
01 for 10 @ LKR40.0
01 for 20 @ LKR9.0Turnover
578,637,630
Company
0-Jan-1900
12,336,413
0-Jan-1900 0-Jan-1900 0-Jan-1900 0-Jan-1900
Company Proportion EGM Date Trading Date
0-Jan-1900
Company Proportion
26,946,721
8,149,358
114,980,764
180,532
8,107,845
142,852,308
2,734,678
4,478,407
32,527,919
668,944
506,996
0-Jan-1900 0-Jan-1900
20-12-2013
0 0
0-Jan-1900 0 0
23-12-2013
0-Jan-1900
3,100
3,150
3,200
3,250
3,300
3,350
Daily Index Movement
S&P SL20
Page | 4
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
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Local Economy
CURRENCY MOVES
129
130
131
132
133
134
LKR USD : LKR
1.26
1.28
1.30
1.32
1.34
1.36
1.38
LKR Japanese Yen : LKR
170
172
174
176
178
180182
LKR EURO : LKR
102
103
104
105
106
107
LKR Singapore Dollar : LKR
202
204
206
208
210
212
214216
LKR GBP : LKR
1.80
1.851.90
1.95
2.00
2.05
2.10
2.15
2.20
LKR Indian Rupee : LKR
Page | 5
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
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BALANCE OF TRADE TOURISM
For the Month Ending: Sep-13 For the Month Ending:
Sep-13 MoM % Sep-12 2013 2012
Exports 890 -3% 802 Sep-13 89,761 71,111
Imports 1,614 0% 1,315 YTD 801,210 693,772
Balance of Trade -724 -4% -513
COLOMBO TEA AUCTION STATISTICS
Sale of
06-Nov-13 WoW %
High Grown 446.38 0.67%
Mid Grown 442.19 -1.46%
Low Grown 515.18 -7.90%
Total 492.46 -5.50%
COLOMBO RUBBER AUCTION STATISTICS
For the Month Ending: Oct-2013
Oct-13 Basis Points Sale of
Point to Point 6.7% -50 22-Oct-13 WoW %
Annual Average Chang 7.6% 20 RSS 1 365.00 -11.30%
1-Yr T-Bill 11.30% -78 Brown Crepe 1X 420.00 1.20%
448.76
559.38
521.10
Sep-13
6.2%
7.8%
10.52%
Sale of
26-Sep-13
411.50
415.00
Sale of
15-Aug-13
Corres. 2012
2.44%
-11.30%
WoW %
23%
-41%
426.83
370.83
392.02
396.08
Local Economy
Elevation
Sep-13
INFLATION & INTEREST RATE
Aug-13
-698
Sale of
918
1,616
26%
15%
24.33%
411.50
410.00
YoY %
11%
Elevation
4.58%
19.24%
31.42%
30-Oct-13
443.39
YoY %
Change %
-1,200
-800
-400
0
400
800
1,2001,600
2,000
Balance of Trade
Exports Imports Balance of Trade
20,000
40,000
60,000
80,000100,000
120,000
140,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Tourist Arrivals
2010 2011 2012 2013
2%
4%
6%
8%
10%
12%
14%
Oct-13Aug-13Jun-13Apr-13Feb-13Dec-12Oct-12
Inflation and Treasury Bill Rate
1-Yr T-Bill Point to Point Annual Average Change
Page | 6
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Global Markets
EQUITY MARKET OUTLOOK
14,000
14,500
15,000
15,500
16,000
Index
Dow Jones Industrial Average
6,000
6,200
6,400
6,600
6,800
7,000
Index FTSE 100 Index
1,550
1,600
1,650
1,700
1,750
1,800
1,850
Index S&P 500 Index
7,000
9,000
11,000
13,000
15,000
17,000Index Nikkei 225
2,500
2,600
2,700
2,800
2,900
3,000
3,100IndexEURO STOXX 50 Price EUR
20,500
21,000
21,500
22,000
22,500
23,000
23,500
24,000Index Hong Kong Hang Seng Index
Page | 7
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
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WTI Crude USD/bbl 93.88 -0.6%
Gold USD/t oz. 1,280.80 -0.2%Copper USd/lb. 316.45 -3.1%
Cotton USd/lb. 77.79 -1.2%
Wheat USd/bu. 648.00 -0.9%
94.44
Global Markets
78.75
654.00
CommodityThis
Week
Last
Week
WoW
Change
1,283.70326.65
GLOBAL COMMODITY TREND
80
85
90
95
100
105
110
115
USD/bbl
WTI CRUDE FUTURE
70
75
80
85
90
USd/lb. COTTON NO.2 FUTURE
1,150
1,200
1,250
1,300
1,350
1,400
1,450
USD/t oz.
GOLD 100 OZ FUTURE
600
620
640
660
680
700
720
USd/bu. WHEAT FUTURE(CBT)
305
310
315
320
325
330
335
340
USd/lb.
COPPER FUTURE
Page | 8
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Softlogic quity ResearchPage | 9
SAMP recorded net earnings of LKR859.2mn in3Q2013, 19%YoY dip, owing to a significant impairment provisioning which resulted in the rise in collective impairment by aconsiderable 1861%%YoY to LKR1.1bn due to the dip in global gold prices. However, amidst this challenging environment SAMP recorded a healthy 44%YoY growth in its Net
Interest Income.
Notable drop in earnings due to pawning impairments: SAMP reported a significant 20%YoY dip in earnings in 3Q2013 due to
an impairment provisioning of LKR1.1bn which was a notable 1862%YoY rise primarily resulted from the provisions made on
pawning portfolio. SAMP also recorded 33.6%YoY decline in earnings for the first 9 months in 2013 due to revaluation losses
resulted from rupee fluctuations and a pawning impairment provisioning of LKR2.0bn which resulted in a 1096%YoY increase in
collective impairment provision to LKR2.3bn. This pawning provisioning covered both fallen due more than 12 months LKR11bn
and current pawning advances which are not yet fallen due less than 12 months LKR47.7bn. The bank had a 25% exposure to
pawning advances as at 30-09-2013.
Core operations of the banks denoted healthy improvements: Amidst all these challenges SAMP made a healthy 45%YoY
growth in NII in 3Q2013 and a 33%YoY growth in 1st 9 months in 2013 led by a healthy expansion in the loan book of 18.2% and
30 basis point improvements in NIMs to 4.5% cf. to the base date at 31-12-2012 owing to effective management of fund base
through ALCO and reduction in interest rate economy which favorably affected the banks maturity mismatch. In addition, fee
and commission income grew by 25%YoY in 3Q2013 to support the bottom line. Furthermore cost-to-income ratio denoted a
healthy improvement to 49.8% in 3Q2013 cf. 62.5% in the comparative quarter.
We expect SAMP to record net earnings of LKR4.0bn (-23.7%YoY) in 2013E driven primarily by the healthy
loan book expansion and the positive impact of the interest rate cut which would further favourably
impact SAMP in the final quarter and hence set-off some of the hit resulted from impairment provisioning.
In 2014E we forecast a net earnings of LKR6.2bn. (+53%YoY) with the expected increase in NII resulting
from loan book expansion leveraging on its rapid branch expansion in the last few years and highly likely
absence of significant impairment provisioning. This translates to a forward PER of 7.0x in 2013E and 4.5x
in 2014E at a market price of LKR169.1. We rate BUY.
LKR ('mn) 3Q2013 3Q2012 YoY % 2Q2013 QoQ %
Net Interest Income 4,409 3,049 45% 3,848 15%
Total Operating Income 5,689 3,824 49% 5,174 10%
Operating profit before VAT 1,492 1,645 -9% 1,113 34%
Profit before tax 1,492 1,645 -9% 902 65%
Profit for equity holders 859 1,064 -19% 652 32%
Quarterly Performance
LKR ('mn) 1-3Q2013 1-3Q2012 YoY %
Net Interest Income 11,580 8,706 33%
Total Operating Income 15,328 13,900 10%
Operati ng profi t before VAT 4,376 6,430 -32%
Profit before tax 3,644 5,521 -34%
Profit for equity holders 2,567 3,867 -34%
9 Month Performance
Y/E Dec (LKR mn) 2011 2012 2013E 2014E 2015E
Net Profit 3,683 5,343 4,074 6,241 7,609
Adjusted EPS (LKR) 22.0 31.8 24.3 37.2 45.4
% Growth 5.7% 45.1% -23.7% 53.2% 21.9%
PER (x) 7.7 5.3 7.0 4.5 3.7
PBV (x) 1.2 1.0 0.9 0.8 0.7
NAVPS (LKR) 136.0 162.2 178.4 202.3 231.3
Adjusted DPS 9.0 12.0 8.3 13.4 16.3
Div Yield (%) 5.3% 7.1% 4.9% 7.9% 9.7%
Dividend Payout 39.7% 36.5% 34.0% 36.0% 36.0%
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Softlogic quity ResearchPage | 10
Name Y/E Rec Mkt Price NAVPS P / BV DPS
15-Nov-13 M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 4E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 3
( 'M n) ( 'M n) ( 'M n) Dec '11 Dec' 12 Dec '13E Dec '14E Dec' 11 Dec '12 Dec' 13E Dec '14E Dec' 11 Dec '12 Dec '13E Dec '13E Dec' 11 Dec '12 Dec '13E Dec '14E Dec '12
Banking, Finance & Insurance
Ce nt ra l F i na n ce CF IN .N 0000 M Buy 1 80.00 17,646 104.9 18,879 168.24 1.07 2,675 3,041 3,437 3,829 3,098 25.51 2 9.00 3 2.77 3 6.51 29.54 46 14 13 11 7.1 6.2 5.5 4.9 6.1 2.9 1.6 15.2
Ceyl inco Ins urance CINS.N0000 D 1,333.20 14,123 26.4 35,216 534.67 2.49 1 ,508 1,953 2,014 57.08 73.94 76.24 57 30 23.4 18.0 17.5 12.5 0.9 10.7
Co mm er ci a l B a nk CO MB .N 00 00 D Buy 1 13. 00 55, 572 8 49. 0 9 5,9 36 65. 46 1.7 3 8 ,04 8 10, 080 10, 685 1 2, 591 9 ,2 23 9. 48 1 1. 87 1 2.5 9 14. 83 10. 86 46 25 6 18 1 1.9 9. 5 9. 0 7. 6 10 .4 4. 5 4. 0 14. 5
Commercia l Bank [X] COMB.X0000 D Buy 89.20 55,572 849.0 75,730 65.46 1.36 8,048 10,080 10,685 12,591 9,223 9.48 1 1.87 1 2.59 1 4.83 10.86 46 25 6 18 9.4 7.5 7.1 6.0 8.2 4.5 5.0 14.5
DFCC Ba nk DFCC.N0000 M MTB 119.60 36,565 265.1 31,706 137.93 0.87 2 ,900 3,523 3,453 3,915 3,436 10.94 13.29 13.02 14.77 12.96 (43) 21 (2) 13 10.9 9 .0 9.2 8.1 9.2 5.0 4.2 7.9
H a tt on N a ti o n al B a nk H NB .N 00 00 D Buy 1 44.30 53,980 399.4 57,636 135.15 1.07 6,149 8,111 9,258 11,113 8,257 15.39 20.31 2 3.18 2 7.82 20.67 28 32 14 20 9.4 7.1 6.2 5.2 7.0 8.5 5.9 11.4Hatton National Bank [X] HNB.X0000 D Buy 1 11.50 53,980 399.4 44,535 135.15 0.83 6,149 8,111 9,258 10,908 8,257 15.39 20.31 2 3.18 2 7.82 20.67 28 32 14 20 7.2 5.5 4.8 4.0 5.4 8.5 7.6 11.4
La nk a Ori x Le as i ng Co mp an y LOLC.N0000 M 63.10 2 0,735 475.2 2 9,985 43.63 1.45 2,933 1,863 1,985 6.17 3.92 4.18 (24) (36) 10.2 16.1 15.1 0.5 0.8 14.1
LB Fi na nce LFIN.N0000 M Buy 1 02 .9 0 5 ,5 71 6 9. 3 7 ,1 27 8 0. 43 1 .2 8 1 ,7 14 1 ,7 03 2 ,1 14 2 ,4 94 1 ,5 66 2 4. 75 2 4. 58 3 0. 52 3 6. 01 2 2. 61 6 8 (1) 24 18 4.2 4.2 3.4 2.9 4.6 6.5 6.3 30.8
National Development Bank NDB.N0000 D Buy 150.20 23,785 164.7 24,737 144.42 1.04 2 ,706 8,854 3,533 4,286 8,817 16.43 53.76 21.45 26.03 53.53 26 227 (60) 21 9.1 2.8 7.0 5.8 2.8 15.0 10.0 11.4
N at io ns T ru s t B an k N TB .N 00 00 D Buy 60.60 10,591 230.6 13,975 45.93 1.32 1,534 1,951 2,438 2,990 2,002 6.65 8.46 1 0.57 12.96 8.68 41 27 25 23 9.1 7.2 5.7 4.7 7.0 2.1 3.5 14.5
Pa n As ia B an k PAB C.N0000 D Buy 16.10 4,100 295.0 4,750 13.89 1.16 824 811 859 995 617 2.79 2.75 2.91 3.37 2.09 1 28 (2) 6 16 5.8 5.9 5.5 4.8 7.7 1.0 6.2 20.1
Pe op le 's L ea s in g PL C. N00 00 M Buy 1 3. 50 1 8, 94 2 1, 57 9. 9 2 1, 32 8 11 .9 9 1. 13 4 ,5 42 3 ,0 73 3 ,0 15 3 ,5 90 3 ,0 16 2 .8 7 1 .9 5 1 .9 1 2 .2 7 1 .9 1 7 4 ( 32) ( 2) 19 4.7 6.9 7.1 5.9 7.1 1.3 9.3 24.0
S amp ath B an k S AMP.N0000 D Buy 165.00 27,971 167.8 27,685 166.70 0.99 4 ,151 5,212 3,500 5,339 4,066 24.74 31.06 20.86 31.82 24.23 19 26 (33) 53 6.7 5.3 7.9 5.2 6.8 6.0 3.6 14.8
Seylan Bank SEYB.N0000 D 65.00 20,343 345.0 22,422 58.97 1.10 1,006 2,063 2,042 2.92 5.98 5.92 (17) 105 22.3 10.9 11.0 1.0 1.5 4.9
La nk a Ori x F in an ce LOF C.N0000 M 2.80 5,479 2,800.0 7,840 1.96 1.43 1,246 686 898 1,026 705 0.44 0.25 0.32 0.37 0.25 (0) ( 45) 31 14 6.3 11.4 8.7 7.6 11.1 - - 22.7
Sample Sector (16) 315,401 7,772.2 399,222 40.58 1.27 41,935 52,924 68,324 5.40 6.81 8.79 19 26 9.5 7.5 5.8 13.3
Full Sector (60) 521,752 1.35 7.9
Beverage, Food and Tobacco
Cargi l l s CARG.N0000 M 150.00 12,008 224.0 33,600 53.61 2.80 1,079 578 453 4.82 2.58 2.02 (1) ( 46) 31.1 58.2 74.2 2.0 1.3 9.0
Ce yl on T ob ac co Co mp an y CT C.N 0000 D 1 ,0 55. 00 5, 041 1 87. 3 19 7,6 27 26. 91 39. 20 6 ,56 9 8, 176 8, 734 9, 545 8 ,5 70 35. 07 43. 65 4 6.6 3 5 0. 95 45. 75 29 24 7 9 3 0.1 24. 2 22. 6 20 .7 23 .1 4 5. 2 4. 3 13 0. 3
Di sti ll eri es DIST.N0000 M LTB 184.00 50,390 300.0 55,200 167.97 1.10 5 ,675 5,520 5,816 6,452 5,701 18.92 18.40 19.39 21.51 19.00 (30 ) ( 3) 5 11 9.7 10.0 9.5 8.6 9.7 3.0 1.6 11.3
L io n B re we ry L ION .N 0000 M 3 48. 00 5, 878 80. 0 2 7,8 40 73. 47 4.7 4 1 ,26 2 1 ,046 1, 121 1, 465 1 ,0 20 15. 78 13. 07 1 4.0 1 18. 31 12. 76 25 (17) 7 31 22.1 26.6 24.8 19.0 27.3 4.0 1.1 21.5
Ne stl e ( La nk a) NE ST.N0000 D 1,931.70 2,569 53.7 103,781 47.82 40.39 2,633 2,994 3,513 3,822 3,449 49.01 5 5.73 6 5.39 7 1.14 64.21 39 14 17 9 39.4 34.7 29.5 27.2 30.1 54.0 2.8 102.5
Sample Sector (5) 75,887 845.0 418,048 89.80 5.51 17,219 18,313 19,194 20.38 21.67 22.71 0 6 24.3 22.8 21.8 22.7
Full Sector (20) 473,703 3.79 19.6
Chemicals & Pharmaceuticals
CIC Holdings CIC.N0000 M 52.00 7,685 9 4.8 4,928 81.09 0.64 863 231 181 9.11 2.44 1.91 (7) ( 73) 5.7 21.3 27.3 1.6 3.1 11.2
Lankem Ceylon LCEY.N0000 M 136.90 3,612 24.0 3,286 150.48 0.91 513 297 194 21.39 12.36 8.10 (55) (42) 6.4 11.1 16.9 1.5 1.1 14.2
Sample Sector (2) 11,296 118.8 8,214 95.11 0.73 1,376 528 375 11.59 4.44 3.16 (33) (62) 6.0 15.6 21.9 12.2
Full Sector (10) 17,897 0.89 12.5
Construction & Engineering
Co lo mb o Do ckya rd DOCK.N0000 D 182.40 10,172 71.9 13,107 141.55 1.29 1,804 1,977 1,229 25.10 27.51 17.11 (13) 10 7.3 6.6 10.7 8.0 4.4 17.7
Sample Sector (1) 10,172 71.9 13,107 141.55 1.29 1,804 1,977 1,229 25.10 27.51 17.11 (13) 10 7.3 6.6 10.7 17.7
Full Sector (4) 39,753 2.61 9.1
Diversified H oldings
Ai tken Spence SPEN.N0000 M 110.10 28,215 406.0 44,700 69.50 1.58 3,488 3,267 3,293 8.59 8.05 8.11 38 (6) 12.8 13.7 13.6 1.5 1.4 12.4
CT Hol di ngs CTHR.N0000 M 149.90 16,957 183.1 27,446 92.61 1.62 1,159 1,150 1,619 6.33 6.28 8.84 34 (1) 23.7 23.9 17.0 0.7 0.4 6.8
Ca rs on s Cu mb erb atch CAR S.N0000 M 375.00 35,229 1 96.4 7 3,645 179.38 2.09 7,017 4,570 4,692 35.73 23.27 23.89 55 (35) 10.5 16.1 15.7 2.0 0.5 19.9
E xp o la n ka H o ld i n gs E XP O. N0 00 0 M LTB 7.40 9,359 1,954.9 14,466 4 .79 1.55 1,033 1 ,061 1 ,302 1,100 0 .53 0.54 0.67 0.56 (33) 3 23 14.0 13.6 11.1 13.2 0.1 1.6 11.0
Hayleys HAYL.N0000 M 291.00 22,638 75.0 21,825 301.84 0.96 1,038 1,854 2,054 13.84 24.72 27.39 43 7 9 21.0 11.8 10.6 4.5 1.5 4.6
Hema s Hol di ngs HHL.N0000 M 32.60 12,374 515.3 16,798 24.01 1.36 1,165 1,658 1,600 2.26 3.22 3.11 (4) 42 14.4 10.1 10.5 0.8 2.3 9.4
J oh n K ee l l s H o l di n gs J KH .N 00 00 M 2 10 .4 0 9 0, 68 6 9 90 .0 2 08 ,2 91 9 1. 60 2 .3 0 9 ,6 87 1 2, 20 1 10 ,9 52 1 0, 65 3 12 ,1 29 9 .7 8 1 2. 32 1 1. 06 1 0. 76 1 2. 25 1 7 2 6 ( 10) ( 3) 21.5 17.1 19.0 19.6 17.2 3.5 1.7 1 0.7
Ri cha rd Pei ri s RICH.N0000 M 6.50 8 ,257 1,958.1 12,728 4.22 1.54 2,575 1,903 1,642 1.32 0.97 0.84 53 (26) 4.9 6.7 7.7 0.2 3.1 31.2
Softlogic Holdings SHL.N0000 M 8.50 7,384 779.0 6,622 9.48 0.90 483 301 269 0.62 0.39 0.35 (42) (38) 13.7 22.0 24.6 0.3 3.5 6.5
Va ll ibe l On e VONE.N0000 M Buy 17. 00 30, 980 1,0 86. 6 1 8,4 72 28. 51 0.6 0 2 ,02 5 1, 403 2, 323 1 ,5 50 1 .86 1. 29 2.1 4 1. 43 2 50 (31) 66 9.1 13.2 8.0 11.9 0.0 0.0 6.5
Sample Sector (10) 262,079 8,144.3 444,993 32.18 1.70 29,669 29,367 29,948 3.64 3.61 3.68 30 (1) 15.0 15.2 14.9 11.3
Full Sector (18) 475,170 1.57 14.1
Healthcare
Asiri Hospita l Hold. ASIR.N0000 M 15.90 5,650 1,099.1 17,476 5.14 3.09 600 777 810 0.55 0.71 0.74 215 29 29.1 22.5 21.6 0.5 3.1 10.6
Nawal oka Hospita ls NHL.N0000 M 2.90 3,881 1,409.5 4,088 2.75 1.05 271 454 456 0.19 0.32 0.32 (75) 68 15.1 9.0 9.0 0.1 1.7 7.0
Lanka Hospi tal s LHCL.N0000 D 42.00 27,164 223.7 9,397 121.41 0.35 437 384 537 1.95 1.72 2.40 51 (12) 21.5 24.5 17.5 0.5 1.2 1.6
Sample Sector (3) 36,695 2,732.3 30,960 13.43 0.84 1,308 1,616 1,803 0.48 0.59 0.66 (16) 24 23.7 19.2 17.2 3.6
Full Sector (6) 46,235 2.15 18.9
Book Val. Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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Name Y/E Rec Mkt Price NAVPS P / BV DPS
15-Nov-13 M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 4E M ar '1 2 M ar '1 3 M ar '1 4E M ar '1 5E M ar '1 3
( 'M n) ( 'M n) ( 'M n) D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 3E D ec '1 1 D ec '1 2 D ec '1 3E D ec '1 4E D ec '1 2
Hotels and Travels
Ai tken Sp . Ho . Ho ld. AHUN.N0000 M 68.40 12,937 3 36.3 23,002 38.47 1.78 1,378 1,782 2,148 1,782 4.10 5.30 6.39 5.30 33 29 21 16.7 12.9 10.7 12.9 1.0 1.5 10.7
Amaya Lei sure CONN.N0000 M 75.00 2,515 48.0 3,603 52.37 1.43 293 377 376 374 6.09 7 .84 7 .83 7.79 (38) 29 (0) 12.3 9.6 9.6 9.6 4.0 5.3 11.6
As i an H ot el s & Pro p. A HPL .N 000 0 M 68. 00 20, 762 442. 8 30, 109 46. 89 1.45 2 ,149 2 ,494 2 ,386 2, 493 2, 492 4. 85 5. 63 5. 39 5. 63 5. 63 21 16 (4) 4 14.0 12.1 12.6 12.1 12.1 4.0 5.9 10.3
Ke el ls H ote ls KH L.N0000 M 12.00 16,421 1,456.1 17,474 11.28 1.06 1,105 1,121 870 994 1,121 0.76 0.77 0.60 0.68 0.77 1 11 1 (22) 14 15.8 1 5.6 20.1 1 7.6 15.6 0.0 0.0 6.7
Taj TAJ.N0000 M 29.30 2,223 139.6 4,091 15.92 1.84 125 2 46 2 93 224 0.89 1.76 2.10 1.61 26 97 19 32.8 16.6 14.0 18.3 0.0 0.0 5.6
Tra ns As i a TR AN .N0000 M 87.00 5,775 200.0 17,400 28.88 3.01 625 1 ,066 884 927 1 ,066 3 .12 5.33 4.42 4.64 5.33 (5) 71 (17) 5 27.8 16.3 19.7 18.8 16.3 3.0 3.4 10.8
Sample Sector (6) 60,634 2,622.9 95,679 23.12 1.58 5,674 7,086 6,957 6,059 2.16 2.70 2.65 2.31 24 25 (2) 16.9 13.5 13.8 15.8 9.4
Full Sector (36) 313,252 2.47 37.0
Land and Property
Col ombo Land CLND.N0000 D 38.80 2,699 199.9 7,755 13.50 2.87 10 335 -90 12 48 0.05 1.68 (0.45) 0.06 0.24 (98) 3,393 (127) 113 808.6 23.1 N/A 646.3 160.1 0.0 0.0 0.4
Ove rs e as R ea l it y OS EA .N 0000 D 18. 00 22, 697 843. 5 15, 183 26. 91 0.67 2 ,681 2 ,469 1 ,924 2, 158 2, 991 3. 18 2. 93 2. 28 2. 56 3. 55 2 18 ( 8) ( 22) 12 5.7 6.1 7.9 7.0 5.1 0.3 1.7 11.8
Sample Sector (2) 25,396 1,043.4 2 2,938 24.34 0.90 2,691 2,804 1,834 2,170 3,040 2.58 2.69 1.76 2.08 2.91 102 4 (35) 18 8.5 8.2 1 2.5 10.6 7.5 1.1 10.6
Full Sector (18) 37,927 0.80 7.3
Manufacturing
ACL Cables ACL.N0000 M 65.00 5,802 59.9 3,893 96.87 0.67 485 532 513 8.10 8.88 8.56 127 10 8.0 7.3 7.6 1.0 1.5 8.4
Gra in El eva tors GRAN.N0000 D 37.10 2,742 60.0 2,226 45.71 0.81 388 135 87 93 -188 6.46 2.24 1.45 1.55 ( 3 .1 3) ( 18 ) ( 65 ) ( 35 ) 7 5.7 16.5 25.6 23.9 -11.8 0.1 0.4 14.1
Ch e vr on L ub ri c an ts L LU B. N0 00 0 D Hold 265. 50 5, 098 120. 0 31, 860 42. 48 6.25 2 ,001 2 ,288 2 ,526 2, 621 2, 425 16. 67 1 9. 06 2 1. 05 2 1. 84 20. 21 33 14 10 4 15. 9 13.9 1 2.6 12 .2 13 .1 11. 0 4. 1 3 9.2
La nk a Wa ll ti le LWL.N0000 M LTB 55.00 4,871 54.6 3,003 89.21 0.62 731 520 545 600 474 13.39 9.52 9.98 1 0.99 8.68 51 (29) 5 10 4.1 5.8 5.5 5.0 6.3 3.0 5.5 15.0
Pi ra ma l Gl as s GLAS .N0000 M LTB 4.60 3,716 950.1 4,370 3.91 1.18 686 724 361 532 941 0.72 0.76 0.38 0.56 0.99 19 5 (50) 47 6.4 6.0 12.1 8.2 4.6 0.4 8.3 18.5
Ro ya l Ce ra mi c R CL.N0000 M LTB 88.80 8 ,384 110.8 9 ,838 75.67 1.17 1 ,243 1,670 1,844 2,190 1,411 11.22 15.07 16.64 19.77 12.74 (14) 34 10 19 7.9 5.9 5.3 4.5 7.0 2.0 2.3 14.8
Te xtu re d Je rs ey TJL.N 0000 M Buy 15. 20 6, 190 655. 0 9, 956 9. 45 1.61 628 1 ,017 1 ,186 1, 483 1, 085 0. 96 1. 55 1. 81 2. 26 1. 66 (8) 62 17 25 15.9 9 .8 8.4 6.7 9.2 1.2 8.2 10.1
Tokyo Cement TKYO.N0000 M 26.30 7,793 334.1 8 ,787 23.32 1.13 979 828 1,447 2.93 2.48 4.33 14 (15) 9.0 10.6 6.1 1.0 3.8 12.6
Sample Sector (8) 44,596 2,344.5 73,934 19.02 1.66 7,141 7,713 8,108 3.05 3.29 3.46 15 8 10.4 9.6 9.1 4.4 16.0
Full Sector (36) 104,897 1.34 8.3
Motors
Colonial Motors COLO.N0000 M 84.80 3,562 15.2 1,289 234.33 0.36 453 120 22 29.80 7.91 1.47 95 (73) 2.8 10.7 57.8 3.0 3.5 12.7
D ie se l & Mo to r En gi ne eri ng D IMO.N0000 M 495.00 7,571 8.9 4,394 852.93 0.58 2,702 462 462 304.36 52.06 52.05 27 (83) 1.6 9.5 9.5 10.0 2.0 35.7
Un ited Moto rs UML.N0000 M 110.80 7,747 67.3 7,453 115.18 0.96 2,281 2,013 2,011 33.91 29.92 29.90 153 (12) 3.3 3.7 3.7 10.0 9.0 29.4
Sample Sector (3) 18,880 91.3 13,136 206.70 0.70 5,436 2,595 2,496 59.51 28.41 27.32 67 (52) 2.4 5.1 5.3 6.1 28.8Full Sector (6) 21,065 0.93 9.0
Oil Palms
Bu ki t Da ra h BUKI .N0000 M 675.00 32,716 102.0 68,850 320.74 2.10 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.4 13.7 15.6 3.0 0.4 22.3
Sample Sector (1) 32,716 102.0 68,850 320.74 2.10 7,299 5,042 4,405 71.56 49.43 43.19 43 (31) 9.4 13.7 15.6 3.0 0.4 22.3
Full Sector (5) 103,049 1.82 19.0
Plantations
Balangoda BALA.N0000 D 30.10 2,660 23.6 711 112.53 0.27 25 118 62 1.08 5.01 2.64 (85) 366 28.0 6.0 11.4 1.0 1.0
Horana HOPL.N0000 M 22.60 1,391 25.0 565 55.63 0.41 87 220 201 3.49 8.82 8.04 (73) 152 6.5 2.6 2.8 2.0 6.3
Kegal le KGAL.N0000 M 94.00 3,439 25.0 2,350 137.54 0.68 769 544 542 30.77 21.74 21.70 ( 8) ( 29) 3.1 4.3 4.3 12.0 12.8 22.4
Kelani Val ley KVAL.N0000 D 73.60 2,524 34.0 2,502 74.24 0.99 460 584 650 13.54 17.19 19.12 44 27 5.4 4.3 3.8 6.0 8.2 18.2
Kotagala KOTA.N0000 M 37.00 3,535 40.0 1,480 88.38 0.42 439 517 378 10.97 12.92 9.44 (34) 18 3.4 2.9 3.9 2.5 6.8 12.4
Watawala WATA.N0000 M 10.00 3,855 236.7 2,367 16.29 0.61 455 680 755 1.92 2.87 3.19 (29) 49 5.2 3.5 3.1 0.8 11.8
Sample Sector (6) 17,403 384.3 9,976 45.29 0.57 2,236 2,664 2,589 5.82 6.93 6.74 (24) 19 4.5 3.7 3.9 12.8
Full Sector (19) 23,130 0.63 5.3
Power and Energy
Lanka IOC LIOC.N0000 M 28.90 14,378 532.5 15,390 27.00 1.07 906 2,911 4,069 1.70 5.47 7.64 3 221 17.0 5.3 3.8 1.0 6.3
Val l ibel VPEL.N0000 M 5.90 2,068 747.1 4,408 2.77 2.13 249 289 482 0.33 0.39 0.65 (41) 16 17.7 15.2 9.1 0.3 4.2 12.0
Laugfs Gas LGL.N0000 M 29.80 6,178 387.0 11,533 15.96 1.87 822 1,061 1,291 2.13 2.74 3.34 (4) 29 14.0 10.9 8.9 1.5 5.0 13.3
Sample Sector (3) 22,624 1,666.6 31,331 13.57 1.38 1,977 4,261 5,843 1.19 2.56 3.51 (8) 116 15.8 7.4 5.4 8.7
Full Sector (8) 36,815 1.26 5.7
Telecommunications
Di al og Axi ata DIAL.N0000 D 9.10 37,086 8,143.8 74,108 4.55 2.00 5,354 6,521 8,156 0.66 0 .80 0 .00 1.00 6 22 (100) 13.8 11.4 9.1 0 .3 3.6 14.4
Sri La nka Tel eco m SLTL.N0000 D 37.50 55,315 1,804.9 6 7,682 30.65 1.22 4,781 5,329 4,976 2.65 2.95 0.00 2.76 21 11 (100) 14.2 12.7 13.6 0.9 2.3 8.6
Sample Sector (2) 92,401 9,948.6 141,791 9.29 1.53 10,135 11,850 13,132 1.02 1.19 0.00 1.32 13 17 (100) 14.0 12.0 10.8 11.0
Full Sector (2) 141,791 1.53 10.7
Trading
Browns BRWN.N0000 M 90.00 15,058 70.9 6,379 212.47 0.42 1,164 240 240 16.43 3.39 3.39 (47) (79) 5.5 26.6 26.6 1.3 1.5 7.7
S in ge r S ri La nk a S IN S. N0000 D 89. 20 4, 812 125. 2 1 1, 169 38. 43 2.32 1,266 1,138 985 10.11 9.09 7.87 90 (10) 8.8 9.8 11.3 6.0 6.7 26.3
Sample Sector (2) 19,870 196.1 17,547 101.33 0.88 2,431 1,378 1,225 12.40 7.03 6.25 (15) (43) 7.2 12.7 14.3 12.2
Full Sector (8) 22,366 0.94 11.4
Sample Market (70) 1,046,050 38,084.3 1,789,725 27.47 1.71 138,331 150,117 166,629 188,291 167,769 3.63 3.94 4.38 4.94 4.41 17 9 11 13 12.9 1 1.9 10.7 9.5 10.7 13.2
Total Market (284) 2,437,312 1.68 12.5
Book Val. Share
Cap.
Market
Cap.ROE
(%)
Trailing
DY (%)4Q
Trailing
4Q
Trailing
4Q
Trailing
Earnings EPS EPS Growth (%) PER
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8/14/2019 Weekly Plus - 2013 Issue 46 (15.11.2013)
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Softlogic quity ResearchPage | 12
Softlogic Equity Research
Dimantha Mathew
+94 11 7277030
Kavindu Ranasinghe
+94 11 7277031
Imalka Hettiarachchi
+94 11 7277032
Softlogic Equity Sales
Dihan Dedigama
+94 11 7277010, +94 77 7689933
Thanuja De Silva
+94 11 7277059, +94 77 3120018
Eardley Kern
+94 11 7277053, +94 77 7348018
Chandima Kariyawasam
+94 11 7277058, +94 77 7885778
Branches
HoranaMadushanka Rathnayaka
No. 212, 1st floor, Panadura road, Horana
+94 34 7451000, +94 77 3566465
NegomboKrishan Williams
No. 121, St. Joseph Street Negombo
+94 31 2224714-5, +94 77 3569827
KurunegalaBandula Lansakara
No.13, Rajapihilla Mawatha, Kurunegala
+94 37 2232875, +94 77 3615790
The report has been prepared by Softl ogic Stockbrokers (Pvt) Ltd. The in formation and opin ions contained herein has been compiled
or ar ri ved at based upon inf ormati on obtained fr om sources believed to be reliable and in good faith . Such infor mation has not been
independently verif ied and no guaranty, representation or warr anty, express or impli ed is made as to its accuracy, completeness or
correctness. Al l such i nformation and opinions are subject to change without notice. This document i s for information purposes only,
descri ptions of any company or companies or their securi ties mentioned herein ar e not intended to be complete and this document is
not, and should not be construed as, an offer, or solicitat ion of an off er, to buy or sell any securit ies or other fi nancial instr uments.
Softlogi c Stockbrokers (Pvt) L td may, to the extent permi ssible by applicable law or regulati on, use the above materi al, conclu sions,
research or analysis in wh ich they are based before the materiali zed disseminated to their cu stomers. Not all customers wil l r eceive
the materi al at the same time. Softlogic Stockbrokers, their respective dir ectors, offi cers, representati ves, employees, related persons
and/or Softl ogic Stockbrokers, may have a long or short position i n any of the securiti es or other fi nancial i nstruments mentioned or
issuers described herein at any ti me and may make a purchase and/or sale, or of fer to make a purchase and/or sale of any such
securi ties or other fi nancial i nstruments fr om time to time in the open market or otherwise, in each case either as pri ncipal or agent.
Softlogi c Stockbrok ers may make markets in securi ties or other finan cial in struments descri bed in th is publication , in securi ties of
issuers described here in or i n securiti es underl ying or related to such securi ties. Softl ogic Stockbrokers (Pvt) L td may have recently
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