Feb 10, 2021

LOLC loses ‘Most Valued’ crown Featured

Financial services-rich conglomerate LOLC Holdings Plc yesterday lost its crown of being the most valuable listed company and slumped to number three with Ceylon Tobacco returning to the number one position, whilst premier blue chip JKH moved to the second place.

In a bearish market, LOLC share price dipped by Rs. 17.50 or 4% to Rs. 422.75 whilst JKH dip was only 75 cents to Rs. 154. Ceylon Tobacco rose to be the most valuable thanks to a Rs. 1.75 gain to close at Rs. 1,105.

CTC’s market capitalisation was at Rs. 206.9 billion accounting for 5.96% of CSE’s total and JKH’s value was Rs. 203 billion or 5.85% whilst LOLC’s figure was Rs. 200.89 billion or 5.79% of total.

The Colombo stock market continued its decline with both the All Share Price Index and S&PSL20 Index down by 1.8%. LOLC’s dip contributed most (19 points) to the decline of ASPI.

Thanks to the January rally, the year to date the ASPI is up 17.56% and S&PSL20 by 20.16%.