BRS Market Report: Week II: 11

Weekly
Week II : 11th April - 15th April 2016
BRS Weekly Market Report
BRS Market Report

65, Braybrooke Place, Colombo 2, Sri Lanka research@bartleetreligare.com +94 11 5220200
The Week at a Glance

SL Market Indices
Current
Week
ASPI
6,401.32
Previous
Week
6,275.62
Change
(Points)
%
Change
125.70
2.00%
Current
Week
S&P SL20
Market Rises 2% WoW on better macro news

The bourse continued its bounce back in the three-day trading week shortened by the Sri Lankan New Year. We are of the view that much of the gains
were on the back of the easing of countrys fiscal woes with the IMF funds:
post discussions with the mission team. We believe this would be the catalyst to positively re-rate the CSE in the medium term. Another helpful move
was the doing away of the Capital Gains Tax proposal and reinstating the
Share Transaction Levy which we believe is far more economical to collect
and simpler in execution.
Previous
Week
3,365.66
3,311.94
Change
(Points)
%
Change
53.72
1.62%
Global Market Indices

Current
Week
DOW JONES
Previous
%
Week Change
17,926.43
17,541.96
2.19%
NASDAQ
4,945.89
4,848.37
2.01%
FTSE
6,347.51
6,178.05
2.74%
Average daily turnover at LKR 763mn

The average daily turnover rose marginally from previous week 747mn. This
came mostly from the value pickers although some of the retailer favorites
like BFL and GRAN saw some trading action. BFL in particular showed close to
~20% rise in the price MTD. This we believe could point to signs of retailer
interest to come.
DAX
10,025.70
9,616.02
4.26%
NIFTY
7,850.45
7,555.20
3.91%
HANG SENG
21,316.47
20,370.40
4.64%
NIKKEI
16,848.03
15,821.52
6.49%
JKH: remains the highest contributor as the proxy to the economy

With foreign activity coming back into the bourse as net positive, JKH made
up LKR 422mn of total turnover for the week with 2.8mn shares trading. We
expect JKH to continue to be a midterm favorite with the foreigners given its
discount to value supported by the unrivaled free float. We look to the
March corporate results to confirm the direction of the earnings, but feel
that the slowdown on the overall economy may weigh down corporate earnings. However, despite the foreseen slowdown and possibly rising interest
rates, the panic stricken selling bout we saw made sure there will be enough
selective investments to pick.
CSE Market Statistics

Current Week
Turnover LKR
2,289,973,982
Volume Shares
102,797,966
Foreign Purchases LKR
882,268,478
Foreign Sales LKR
679,157,799
Net Inflow/Outflow LKR
203,110,679
Foreign investors were net buyers

Foreigners saw the opportunity and were net buyers during the week with
LKR 203mn of net purchases. There was one outflow on Tuesday amounting
to LKR 75mn. However, YTD, foreigners still are net seller at LKR 3.25bn.
All Share Price Index
6,500
6,400
6,401.32
6,300
6,040.99
6,071.88
SL FX Rates
6,062.05
Current
Value
6,031.85
6,200
6,100
6,000
7-Apr-16
8-Apr-16
11-Apr-16
12-Apr-16
15-Apr-16
Previous
Week
%
Change
USD
146.63
146.55
0.05%
POUND
208.51
207.21
0.63%
EURO
166.18
167.65
-0.88%
1.36
-1.25%
YEN
1.34

Weekly Summary
MONDAY
TUESDAY
All Share Index
6,275.62
6,353.20
6,401.32
S&P SL 20 Index
3,325.71
3,361.55
3,365.66
Equity Turnover (LKR)
815,434,070
755,201,257
719,338,655
Domestic Purchases (LKR)
411,487,003
685,944,536
310,273,964
Domestic Sales (LKR)
487,471,664
654,619,130
468,725,387
Foreign Purchases (LKR)
403,947,066
69,256,721
409,064,691
Foreign Sales (LKR)
327,962,405
100,582,127
250,613,267
Vol of Turnover
17,684,515
41,041,933
44,071,518
% Vol of Foreign Turnover
22.7%
4.5%
37.1%
Total no. of Trades
4,526
8,855
5,944
% of Foreign Trades
5.5%
3.0%
4.9%
2,674,005,934,469
2,707,061,415,103
2,727,566,436,772
Market Capitalization (LKR)
WEDNESDAY
THURSDAY
Foreign Purchases vs Sales
Net Position on Foreign Holdings
LKR mn
LKR mn
FRIDAY
200
450
400
100
250
200
150
100
50
HOLIDAY
HOLIDAY
50
HOLIDAY
300
HOLIDAY
150
350
13-Apr-16
14-Apr-16
0
-50
11-Apr-16
11-Apr-16
12-Apr-16
13-Apr-16
Foreign Purchases
14-Apr-16
12-Apr-16
15-Apr-16
15-Apr-16
Foreign Sales
WEEKLY CSE ANNOUNCEMENTS

Dividend
Company
CODE
DPS (LKR)
Final/Interim
XD
PD
Ceylon Grain Elevators Plc
GRAN
1.10
First and Final dividend
20.05.2016
30.05.2016
Three Acre Farms Plc
TAFL
2.10
First and Final dividend
20.05.2016
30.02.2016

Top 5 Sector Gainers & Losers
14.0%
IT sector emerged
as the top sector
gainer for the week
while Motor and
Telecommunication
sector lost its
ground.
6.3%
IT
C&E
4.5%
3.7%
3.4%
L&P
TRD
BFI
MTR
TEL
-0.2%
-0.7%
Sector Multiples
SECTOR
BFI
BEV
C&E
DIV
F&T
HLT
PER (x)
10.0 18.7 16.8 19.6
16.6
N/A
30.5 128.7 9.3
N/A 10.2 18.4
9.7 117.1 30.7
9.9
52.4
15.1 15.3
7.8
PBV (x)
1.3
1.5
1.2
2.8
1.2
1.0
1.4
1.7
1.4
1.0
4.8
C&P
1.5
1.2
H&T
4.4
INV
0.8
IT
L&P MFG MTR
1.0
2.7
OIL
2.6
PLT
0.7
P&E SERV S&S TELCO TRD
1.4
Weekly Crossings
Monday
Tuesday
Code
Total Shares
No of Crossings
Price (LKR)
JKH
1,151,000
151.00
LLUB
130,000
310.00
HNB
100,000
205.00
SEYB
1,399,647
93.00
Wednesday
HOLIDAY
Thursday
HOLIDAY
EXPO
28,269,109
7.90
HNB
331,759
205.00
JKH contributed
~43% to Mondays turnover
largely supported by two
negotiated
deals.
Friday
Abbreviations
B A NK S FINA NCE & I NSURANCE
B FI
CHE M I CA LS & P HA RM A
C&P
DIV E RSIFI E D
DIV
HE A LT HCA RE
HLT
INV E ST M E NT T RUST
B E V E RA GE FOOD & T OB A CCO
B FT
CONST RUCT ION & E NG
C&E
FOOT WE A R & T E X T ILE S
F&T
HOT E LS A ND T RA V E L
H&T
IT
IT
LA ND A ND P ROP E RT Y
L&P
M OT ORS
MTR
P LA NT A T I ONS
P LT
SERV I CE S
SRV
T E LE CO
T EL
M A NUFA CT URI NG
M FG
OI L P A LM S
OIL
P OWE R A ND E NE RGY
P &E
ST ORE S A ND SUP P LIE S
S&S
T RA DING
T RD
I NV
BRS Stocks in Focus

MPS
MTD
YTD
Historical
Trailing
Forecasted
Forward
DPS
Dividend
NAV
PBV
(LKR)
change %
Change %
EPS (LKR)
PER (x)
EPS (LKR)
PER (x)
(LKR)
Yield (%)
(LKR)
(x)
Banks, Finance & Insurance

CFIN
223.70
6.52%
-11.58%
34.64
6.46
37.09
6.03
3.50
1.56%
255.07
0.88
CINS
1,499.00
0.07%
0.90%
96.46
15.54
N/A
N/A
20.00
1.33%
630.62
2.38
CINS(X)
800.00
2.30%
0.00%
96.46
8.29
N/A
N/A
20.00
2.50%
630.62
1.27
COMB
130.60
4.06%
-6.85%
13.01
10.04
N/A
N/A
6.50
4.98%
80.93
1.61
COMB(X)
114.00
2.52%
-7.32%
13.01
8.76
N/A
N/A
6.50
5.70%
80.93
1.41
DFCC
145.60
6.28%
-13.38%
16.46
8.85
N/A
N/A
2.50
1.72%
164.90
0.88
HASU
61.20
13.33%
-17.96%
3.95
15.49
N/A
N/A
2.00
3.27%
45.68
1.34
HNB
205.50
3.11%
-2.42%
26.09
7.88
N/A
N/A
8.50
4.14%
186.20
1.10
HNB(X)
179.00
4.68%
0.62%
26.09
6.86
N/A
N/A
8.50
4.75%
186.20
0.96
NTB
80.10
7.95%
-7.18%
11.34
7.06
N/A
N/A
2.10
2.62%
65.79
1.22
NDB
183.50
8.71%
-5.46%
21.51
8.53
N/A
N/A
11.00
5.99%
172.35
1.06
SAMP
229.60
1.59%
-7.42%
38.44
5.97
35.33
6.50
13.00
5.66%
226.96
1.01
SEYB
93.40
8.60%
-1.68%
11.18
8.35
N/A
N/A
2.75
2.94%
76.21
1.23
SEYB(X)
69.90
10.95%
-4.25%
11.18
6.25
N/A
N/A
2.75
3.93%
76.21
0.92
JINS
17.20
7.50%
-1.71%
2.92
5.89
N/A
N/A
1.00
5.81%
11.59
1.48
1,040.00
2.78%
4.79%
56.77
18.32
N/A
N/A
45.15
4.34%
15.41
67.49
DIST
215.00
4.27%
-12.60%
24.58
8.75
22.20
9.68
3.25
1.51%
204.46
1.05
NEST
2,055.30
1.33%
0.28%
76.77
26.77
N/A
N/A
64.50
3.14%
84.16
24.42
100.00
4.71%
-0.30%
13.10
7.63
11.80*
8.47
3.00
3.00%
84.99
1.18
78.00
9.09%
-3.94%
13.10
5.95
11.80*
6.61
3.00
3.85%
84.99
0.92
106.10
-1.85%
-29.31%
4.05
26.20
14.67
7.23
3.00
2.83%
156.65
0.68
CARS
270.20
0.07%
-21.93%
15.77
17.13
9.85*
27.43
1.00
0.37%
211.56
1.28
HAYL
265.30
7.98%
-13.70%
34.42
7.71
34.31*
7.73
6.00
2.26%
388.05
0.68
HHL
90.90
12.78%
-2.15%
3.74
24.30
5.22*
17.41
1.10
1.21%
30.39
2.99
JKH
151.00
2.03%
-15.22%
11.37
13.28
14.47
10.44
5.50
3.64%
126.39
1.19
SPEN
81.60
11.02%
-15.62%
6.60
12.36
6.90*
11.83
1.50
1.84%
88.18
0.93
SUN
52.50
5.00%
-1.32%
4.50
11.67
5.09
12.80
0.95
1.81%
42.08
1.25
SUN
52.50
5.00%
-1.32%
4.50
11.67
2.91
12.80
0.95
1.81%
16.55
1.25
Beverage, Food & Tobacco

CTC
Chemicals & Pharmaceuticals

CIC
CIC(X)
Construction & Engineering

DOCK
Diversified
1 Please note that the historical EPS represents the EPS reported for the last financial year, adjusted for non-recurring items, share splits,
bonuses and share consolidations.
2 * Annualized EPS
3 ** Companies who have paid both cash and scrip dividends during the last FY. However, DPS here only represents cash dividend
4 DPS figures represent per share dividend paid during the last FY and are adjusted for splits, bonus issues and share repurchases
BRS Stocks in Focus

MPS
MTD
YTD
Historical
Trailing
Forecasted
Forward
DPS
Dividend
NAV
PBV
(LKR)
change %
Change %
EPS (LKR)
PER (x)
EPS (LKR)
PER (x)
(LKR)
Yield (%)
(LKR)
(x)
Healthcare
CHL
90.00
0.00%
-11.07%
9.38
9.59
N/A N/A
2.70
3.00%
88.62
1.02
CHL(X)
76.00
3.26%
1.33%
9.38
8.10
N/A
N/A
2.70
3.55%
88.62
0.86
AHPL
49.60
3.77%
-16.07%
3.70
13.41
3.85
12.88
4.00
8.06%
53.56
0.93
AHUN
59.90
13.02%
-11.91%
5.51
10.87
N/A
N/A
1.50
2.50%
52.85
1.13
CONN
68.30
12.89%
2.40%
5.15
13.26
N/A
N/A
5.00
7.32%
64.41
1.06
EDEN
17.00
6.25%
-2.86%
(4.75)
N/M
N/A
N/A
0.00%
39.28
0.43
KHL
12.90
7.50%
-16.23%
1.24
N/M
1.12
11.52
0.30
2.33%
14.73
0.88
PALM
33.40
11.71%
-12.34%
(5.89)
N/M
N/A
N/A
0.00%
73.97
0.45
SHOT
31.10
13.09%
-6.04%
1.72
18.08
N/A
N/A
0.00%
19.02
1.64
STAF
41.80
-0.48%
-20.38%
5.25
7.96
N/A
N/A
1.00
2.39%
43.14
0.97
ACL
106.80
5.85%
-11.66%
14.35
7.44
19.00
5.62
2.00
1.87%
134.88
0.79
KCAB
122.50
8.89%
-4.45%
14.78
8.29
19.00*
6.45
3.00
2.45%
138.40
0.89
LLUB
312.00
2.30%
-9.30%
25.73
12.13
27.01
11.55
23.00
7.37%
39.03
7.99
LWL
109.00
10.32%
-0.73%
19.12
5.70
28.07
3.88
7.50
6.88%
134.92
0.81
TJL
33.90
6.94%
-4.51%
2.03
16.70
3.03
11.19
1.30
3.83%
14.35
2.36
RCL
114.00
13.89%
2.52%
18.97
6.01
27.16
4.20
5.00
4.39%
66.81
1.71
TKYO
40.70
10.00%
-16.94%
5.40
7.54
5.06
8.04
1.19
2.92%
32.39
1.26
TKYO(X)
36.50
13.00%
-7.59%
5.40
6.76
5.06
7.21
1.19
3.26%
32.39
1.13
DIAL
10.40
1.96%
-2.80%
0.64
16.25
0.96*
10.83
0.13
1.25%
5.81
1.79
SLTL
40.10
3.35%
-14.68%
2.06
19.47
3.72*
10.78
0.89
2.22%
36.15
1.11
AGAL
19.30
1.58%
-5.85%
(16.21)
N/M
N/A
N/A
0.00%
25.17
0.77
KGAL
63.90
26.04%
-3.91%
6.76
9.45
N/A
N/A
2.00
3.13%
102.50
0.62
KOTA
19.60
29.80%
10.11%
(9.53)
N/M
N/A
N/A
0.00%
49.70
0.39
KVAL
64.60
-0.62%
-7.71%
(4.44)
N/M
N/A
N/A
1.00
1.55%
72.80
0.89
MAL
3.10
24.00%
-8.82%
(1.07)
N/M
N/A
N/A
0.03
0.81%
72.81
0.27
WATA
19.90
3.11%
-18.11%
1.84
10.82
N/A
N/A
0.50
2.51%
19.50
1.02
TPL
35.10
8.00%
11.08%
5.82
6.03
N/A
N/A
3.00
8.55%
68.89
0.51
LIOC
36.70
12.92%
-1.08%
(0.72)
N/M
N/A
N/A
1.50
4.09%
31.64
1.16
HPWR
24.40
9.91%
-2.40%
1.76
13.86
2.58*
9.46
0.00%
16.41
1.49
Hotels & Travels
Manufacturing
Telecommunications
Plantations
Power & Energy
1 Please note that the historical EPS represents the EPS reported for the last financial year, adjusted for non-recurring items, share splits,
bonuses and share consolidations.
2 * Annualized EPS
3 ** Companies who have paid both cash and scrip dividends during the last FY. However, DPS here only represents cash dividend
4 DPS figures represent per share dividend paid during the last FY and are adjusted for splits, bonus issues and share repurchases
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DISCLAIMER: In compiling this report, Bartleet Religare Securities (Pvt) Ltd has made every endeavour to ensure its accuracy but cannot hold ourselves
responsible for any errors that may be found herein. We further disclaim all responsibility for any loss or damage which may be suffered by any person
relying upon such information or any options, conclusions or recommendations herein whether that loss or damage is caused by any fault or negligence
in the part of Bartleet Religare Securities (Pvt) Limited.

BRS Market Report: Week II: 11

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BRS Market Report: Week II: 11

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Weekly

Week II : 11th April - 15th April 2016

BRS Weekly Market Report