Dialog Axiata overtook John Keells Holdings (JKH) on Monday to become the most valuable listed company on the Colombo Stock Exchange (CSE) by market capitalisation, regaining the top spot after 11 years.
At Monday’s close, Dialog was valued at Rs. 367.1 billion, equivalent to 4.51% of total market capitalisation, edging ahead of JKH’s Rs. 359.4 billion (4.42%). The telecommunications operator’s return to the summit caps a strong run that included a record first-quarter net profit of Rs. 9.2 billion.
Ceylon Tobacco Company ranked third at Rs. 341.9 billion (4.2%), followed by Commercial Bank at Rs. 320.9 billion (3.95%) and LOLC Holdings at Rs. 268 billion (3.3%). Distilleries Company (Rs. 261.7 billion), Melstacorp (Rs. 218.2 billion), Hayleys (Rs. 189.4 billion) and Hatton National Bank (Rs. 185.7 billion) rounded out the top ranks.
The shift came as the broader market firmed, with total market capitalisation reaching Rs. 8.11 trillion — up 2.04% from Friday. The bourse has rallied in recent sessions, including a near 2% jump on Monday, as the rupee stabilised and sentiment improved.
