Access Engineering shares fell by 11 per cent or Rs. 3.40 per share to Rs. 26.60 on Monday at the Colombo bourse days after the new Sri Lankan Government announced the cancellation of a major highway project.
Traders appeared to panic with more than 800 separate transactions all amounting to 3.4 million shares at a turnover of Rs 95 million.
Access is one of the most powerful contractors in the country and involved in several major road, highway and other development projects.
At the weekend, the new Government of President Maithripala Sirisena – dismantling some of the costly projects of the former administration – said it was cancelling the proposed northern expressway project saying it was too expensive.
Five contractors including Access had been selected for the project.
Traders appeared to panic with more than 800 separate transactions all amounting to 3.4 million shares at a turnover of Rs 95 million.
Access is one of the most powerful contractors in the country and involved in several major road, highway and other development projects.
At the weekend, the new Government of President Maithripala Sirisena – dismantling some of the costly projects of the former administration – said it was cancelling the proposed northern expressway project saying it was too expensive.
Five contractors including Access had been selected for the project.
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