Sunday Dec 22, 2024
Sunday Dec 22, 2024
Friday, 16 September 2022 00:26 - - {{hitsCtrl.values.hits}}
The new legislation opening up the casino industry to new entrants as exclusively reported by the Daily FT yesterday boosted investor sentiment on top blue chip John Keells Holdings (JKH) and Group companies.
JKH ended with a gain of 8.6% or Rs. 12 to Rs. 151 while John Keels Hotels (+8.2%) and Asian Hotel Properties (+11.7%) closed significantly higher on the back of renewed retail and HNI buying momentum.
JKH saw 4 million of its shares change hands via 1,681 trades for Rs. 598.3 million. It contributed second most for ASPI’s gain yesterday which crossed the 10,000 points level.
JKH saw 4 million of its shares change hands via 1,681 trades for Rs. 598.3 million. It contributed second most for ASPI’s gain yesterday which crossed the 10,000 points level. Given its flagship mixed development Cinnamon Life, JKH is perceived to be a direct beneficiary of new casino legislation.
Asia Securities said the ASPI surpassed the psychological level of 10,000 with JKH Group leading the charge, boosted by the long-awaited gaming licence announcement coupled with faster-than-expected recovery in both domestic and overseas tourism operations going into the key winter holiday season.
First Capital said buying spree intensified on JKH as investor interest renewed backed by the Gazette issue on regulating and allowing casino operations in the country.
