Latest news with #ColomboStockExchange
CNA
3 days ago
- Business
- CNA
Sri Lanka market rally fuelled by reforms, investor confidence: Colombo Stock Exchange CEO
Rajeeva Bandaranaike, CEO of the Colombo Stock Exchange, tells CNA the market's strong performance, up nearly 50% last year and 24% year-to-date, is backed by sweeping economic reforms, political stability, and increased participation from both domestic and foreign investors.
Business Upturn
27-06-2025
- Business
- Business Upturn
Mazagon Dock to acquire majority stake in Colombo Dockyard for Rs 452 crore
Mazagon Dock Shipbuilders has announced plans to acquire a controlling and substantial stake in Colombo Dockyard PLC (CDPLC), a listed company on the Colombo Stock Exchange in Sri Lanka. The investment, capped at USD 52.96 million (approx. ₹452 crore), will be made through a mix of primary and secondary share purchases. The transaction involves acquiring a minimum 51% stake, including shares held by the current majority shareholder, Onomichi Dockyard Co. Ltd., and will make CDPLC a subsidiary of Mazagon Dock. The deal has already seen the signing of definitive agreements between Mazagon Dock, CDPLC, and Onomichi. Completion of the acquisition is subject to regulatory approvals, including clearance from the Colombo Stock Exchange, and is expected to close in 4 to 6 months. Colombo Dockyard, incorporated in 1974, is a major player in shipbuilding and ship repair in Sri Lanka. In FY24, it reported a consolidated turnover of LKR 25,447 million. Mazagon Dock expects the acquisition to boost its capabilities and reach in the global shipbuilding sector by unlocking synergies, enhancing R&D, and supporting long-term growth in core operations. In the meantime, Mazagon Dock shares traded in a narrow range today. The stock opened at ₹3,137.00, touched a high of ₹3,175.20, and a low of ₹3,094.00 during the session. The 52-week high for the stock stands at ₹3,775.00, while the 52-week low is ₹1,918.05. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
