MBSL Midcap Index revised, market cap range raised

The Merchant Bank of Sri Lanka Limited (MBSL) has revised its MBSL Midcap Index with effect from January 1.
The index launched in 1999 is revised annually. The criteria for selecting the 25 stocks of the index remain unchanged and are:
a) Middle range market capitalization
b)Liquidity
c)Profitability

The range for market capitalisation in the year 2002 was Rs 200 million – Rs 2 billion. In view of the stock market becoming more active, this range was adjusted considering the movements in the ASPI annually. Accordingly, the range was adjusted on market capitalisation for the year 2007 which is Rs 1.030 billion – Rs 10.30 billion.

An MBSL statement said revision at the end of 2006 has resulted in the replacement of 10 new companies in the Index. The additions to the Index are Richard Pieris & Company Ltd, Aitken Spence & Company Ltd, Hayleys Ltd, Ceylon Guardian Investment Trust Ltd, Associated Motorways Ltd, Sierra Cables Ltd, United Motors Lanka Ltd, Ceylon Oxygen Ltd, Asiri Medical Services Ltd and Kelani Cables Ltd.

The outgoing stocks are Lanka Ceramics Ltd, Ceylon Investment Company Ltd, Dipped Products Ltd, Colombo Dockyard Ltd, Ceylon Grain Elevators Ltd, Hayleys MGT Knitting Mills Ltd, Nawaloka Hospitals Ltd, Taj Lanka Ltd, The Finance Company Ltd and Tokyo Cement Lanka Ltd.

The current stocks in MBSL
Midcap Index are;
Bank Finance & Insurance
1. Nations Trust Bank
2. Sampath Bank Limited
3. Merchant Bank of Sri Lanka Ltd
4. Seylan Bank Limited
5. Central Finance Co. Limited
6. Ceylinco Insurance Limited
7. Asia Capital Limited

Diversified Holdings
8. Aitken Spence & company Limite
9. Hayleys Ltd
10. Richard Pieris & Company Ltd

Investment and Trusts
11.Ceylon Guardian Investment Trust Ltd

Motors
12.Associated Motorways Ltd
13.United Motors Lanka Ltd

Land & Property
14. Touchwood Investments Limited

Manufacturing
15. ACL Cables Limited
16. Ceylon Oxygen Ltd
17. Royal Ceramics Lanka Limited
18. Caltex Lubricants Lanka Limited
19. Kelani Cables Ltd
20. Lanka Walltiles Limited
21. Pelwatta Sugar Industries Limited
22. Sierra Cables Ltd
23. Ceylon Glass Company Limited

Health Care
24. Asiri Hospitals Limited
25. Asiri Medical and Services Limited