ACL Cables

[The Invisible]

ACL buys 51-pct stake in cable firm for Rs481mn




Sri Lanka’s ACL buys 51-pct stake in cable firm for Rs481mn

Tuesday November 26, 2019 12:50:19







ECONOMYNEXT – Sri Lanka’s ACL Cables said it plans to buy a 51 percent stake in another cable manufacturing company called Cable Solutions for 481 million rupees.

A stock exchange filing said it eventually will buy 75 percent of Cable Solutions along with other investors.

Cable Solutions Pvt Ltd., which makes cables and wires for the electrical and electronics industry, has a factory at Flinth Industrial Park, in Kadawatha, north of the capital Colombo.

It is the main plant of Cable Solutions Europe AB, in Sweden, which also has a plant in Kerala, India.

The Flinth Industrial Park is run by Swedcord Development, Sweden, and provides infrastructure amenities and support services for manufacturing firms.
(COLOMBO, 26 November 2019)

[subash]

Thanks

[share1]

Math Acl gatta tikak forum eke sensors la ekata honda gamank tiyenawa kiyapu nisa
Dan poddak profit
Thanks you

[NIRMALSG]

Fundamentally also it seams good share to and if market perform well we could see some further upward trend on prices.

Last 3 Quarter NAV

Net asset value per share 89.33
Net asset value per share 88.75
Net asset value per share 90.47

[The Invisible]

Performance expectation too should be good in coming quarters.

[NIRMALSG]

Sri Lanka’s ACL Cables wraps up acquisition of Cable Solutions

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ECONOMYNEXT- ACL Cables Plc, a Sri Lankan cable producer, said it completed the planned purchase of 51 percent of shares in Cable Solutions Pvt Ltd for 480.7 million rupees.

ACL Cables said it has plans to purchase up to 75 percent of shares in Cable Solutions in partnership with a consortium of investors.

ACL Cables’ stock closed 60 cents up at 56.50 rupees, in a market which is on a retreat.

Cable Solutions Pvt Ltd, which makes cables and wires for the electrical and electronics industry, has a factory at Flinth Industrial Park, in Kadawatha, north of the capital Colombo.

It is the main plant of Cable Solutions Europe AB, in Sweden, which also has a plant in Kerala, India.

The Flinth Industrial Park is run by Swedcord Development, Sweden, and provides infrastructure amenities and support services for manufacturing firms.

ACL Cables claims a 45 percent share of the local cable market while the ACL Group claims a 70 percent market share.

(Colombo/ Dec 20/ 2019)

[The Invisible]

From 53 to 23 and now back to 38. Volume is the only issue now. If big volumes coming the stock can move beyond 45/-

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[NIRMALSG]

I also noticed that couple of Buy signals in investing.com technical indicator as well.

[NIRMALSG]

Reason behind the ACL upward trend

Cabinet Decisions -30-11-2020

14. Contract of supplying and distributing 2000 km of Aerial Bundle Cable Alu (ABC) 230/400V3x70+54.6+ 26mm2



Competitive bids are called for supplying aerial bundle cables for distribution zone 2 of the Ceylon Electricity Board. Accordingly the cabinet of Ministers approved the
proposal presented by Hon. Minister of power to award the contract of supplying and distributing 2000 km of Aerial Bundle Cable Alu (ABC) 230/400V3x70+54.6+ 26mm2 to
M/s ACL Cables PLC institute upon the recommendation of cabinet appointed standing procurement committee.

[The Invisible]

Heavy demand was witnessed yesterday pushing the stock price beyond 70/- levels. If demand persists this can move towards 90/- in the days to come. The sentiment out there is so strong.

[chutiputhaTop contributor]

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[subash]

Today over 2 million traded