Colombo stocks up, still on speculation of Maskeliya takeover bid
2008-10-06 11:29:20

Colombo stocks on Monday morning were driven by strong speculation of a takeover bid on Maskeliya Plantations Ltd (MPL), which showed the highest trade of 1.3 million shares, brokers said.

The share was up Rs 4.25 to Rs 34.25 in early trade. MPL's parent company Richard Pieris and Company also saw a hike in share price at Rs 47, up by Rs 2.75 due to MPL speculation.

But company officials last Friday said there is no truth in reports of a takeover.

The All Share Index increased by 13.63 points to 2,169.16 while the Milanka increased by 25.12 points to 2,442.02. Turnover so far is Rs.80 million.