NestlÃ©â€™s Sri Lanka unit gains on bourse ahead of financial year-end
ECONOMYNEXT – Sri Lankan stock market players on Thursday pushed up the price of the local unit of food multinational Nestlé, a day before the financial year-end for most companies and fund managers, analysts said.
The share price of Nestlé Lanka rose 89.2 Rupees to 2,100 Rupees, with just 100 shares traded on the Colombo stock exchange, boosting the All Share Price Index by 10.9 points, the biggest contributor to the day’s gain in the benchmark index.
Analysts had warned investors to watch for ‘window dressing’ on the CSE ahead of the March financial year-end when share prices are sometimes pushed up.
Nestlé Lanka has a market capitalisation of 112.2 billion Rupees and accounts for 4.62 percent of the CSE total market cap.
(COLOMBO, March 30, 2017)