MBSL’s stock market index has 10 new inclusions
View(s):Ten companies have been included in the 2014 MBSL MIDCAP Index which measures the aggregate price level and price movements of medium size companies listed on the Colombo Stock Exchange (CSE).
They are Asiri Surgical Hospital PLC, Browns Investments PLC, Hemas Holdings PLC, Lanka IOC PLC, Overseas Realty (Ceylon) PLC, Royal Ceramics Lanka PLC, Tokyo Cement Company (Lanka) PLC, Union Bank of Colombo PLC, United Motors Lanka PLC and Watawala Platations PLC The exclusions from the 2013 index are Access Engineering PLC, Browns Beach Hotels PLC, Ceylon Grain Elevators PLC, Colombo Land & Development Company PLC, Environmental Resources Investments PLC, John Keells Hotels PLC, Lanka Orix Finance PLC LB Finance PLC, ODEL PLC and Seylan Bank PLC.
The index, which came into operation in 1999 and is revised annually, looks at the middle range market capitalisation, liquidity and the profitability of the firms to be included in the MBSL MIDCAP Index.
“The MBSL MIDCAP Index will facilitate investors who seek for a return index of medium sized companies listed on the CSE,” according to an MBSL statement which said the index could be used as the benchmark index by individual and institutional investors who prefer growth but are prepared to with stand only conservative levels of volatility in their equity investments.
The other companies in the 25-company index for 2014 are Nations Trust Bank, People’s Leasing & Finance, PABC, Janashakthi Insurance, Central Finance Company, Vallibel One, Expolanka Holdings, Softlogic Holdings, Richard Pieris, Colombo Fort Land & Building, Asiri Hospital Holdings, Lanka Hospital Corporation, Textured Jersey Lanka, Piramal Glass Ceylon and Laugfs Gas.