By Hiran H.Senewiratne
Renuka Holdings PLC’s Rights Issue concluded on Wednesday, raising Rs.1.08 billion, higher than the required 1.03 billion for complete subscription of the offer, signalling strong investor confidence.
Amid those developments the market was sluggish and shares fell the most in a month , dragged down by losses in consumer staples and industrial stocks. Indices indicated mixed reactions. All Share Price Index was 8.59 points up and S and P SL20 down by 5.50 points. The turnover stood at Rs. 1.72 billion with three crossings. Those crossings were reported in Commercial Bank, which crossed 800,000 shares to the tune of Rs. 64 million; its shares traded at Rs.80, Melstacorp 500,000 shares crossed for Rs. 24.9 million, its shares settled at Rs. 49.80 and TJ Lanka 527,000 shares crossed for Rs. 20 million, its shares were Rs. 38.
Kangaroo Cabs (PVT) Ltd, is a pioneer cabs service in the country ,operating since last 3 decades ,who is the current market leader fulfilling the day to day travelling needs of customers and corporate clients by giving top priority to the “Comfort and safety” of the passengers.
Under the current risk situation in the country due to the Covid 19 virus pandemic, Kangaroo cabs 2588588, launched distributing of body temperature units and hand sanitizers to their registered chauffeurs in order to provide a better quality service with high level of safety to the passengers.
Tushara Fonseka, Director Operation distributed the body temperature units and bottles of hand sanitizers to the registered chauffeurs at Kangaroo head office, aiming to check the body temperature and to sanitize the hands of the passengers and chauffeurs prior to each and every hire .
Further consolidating its presence as the most preferred mobile service provider among youth, Airtel introduced an unlimited streaming and social networking combo data pack. This data offering by Airtel provides unlimited access to four of the most popular social networking platforms of the country; YouTube, Facebook, Facebook Messenger and WhatsApp.
The data pack was developed to cater to the surge in usage among social networking, messaging and streaming applications as Sri Lankans continue to practice safe social distancing measures throughout the country. With no hidden costs, users will be able to stream unlimited content via YouTube and Facebook.
This offering also enables users to browse, chat, upload or download any given amount of content on the four select apps without any interruption. The ‘unlimited pack’ is available to be purchased as an optional add-on to the user’s pre-existing data package.
Renuka Holdings PLC’s rights issue concluded on December 16 raising 1.082 Bn, higher than the required 1.03 Bn for complete subscription of the offer signaling strong investor confidence. This Rights Issue was carried out via online channels facilitated by the Colombo Stock Exchange.
The managers to the Rights Issue were Capital Alliance Partners Ltd, while the registrars were the Central Depository System. The proceeds of the Rights Issue will enable strengthening of the group’s balance sheet and also to fund future investments. As at March 31 the Group turnover was approximately Rs. 8 bn and total equity stood at Rs. 9.7bn
Renuka Holdings PLC (also known as the Renuka Group) is a diversified organisation listed on the Colombo Stock Exchange and is the parent company for subsidiaries engaged in Agri Food Exports, Organic Plantations, FMCG, Dairy, Property & Investment, tracing its roots to the year 1866.
American automakers such as Buick have told the media that they don’t believe Americans care where their car is built, as long as quality stays consistent. That is why some automakers have invested in Chinese manufacturing facilities and have been testing the potential to sell Chinese-built cars in the United States in the last few years.
As of the summer of 2018, the tide is changing again, though it’s not based on consumer feedback. Thanks to the developing trade war with China, which has the biggest automotive industry in the world, the government has decided to penalize automakers who build cars there and bring them here. According to 24/7 Wall St, American automakers send about 250,000 cars to China every year and import about 50,000.