2 Sinarmas Jawara Shares, 2 Coal Shares Get Profit Taking

Jakarta, CNBC Indonesia – Two shares of paper producer Sinar Mas Group PT Indah Kiat Pulp and Paper Tbk (INKP) and PT Paper Factory Tjiwi Kimia Tbk (TKIM) were the top gainers in today’s trading, Wednesday (29/9/2021).

In contrast, two coal issuers, PT Borneo Olah Sarana Sukses Tbk (BOSS) and Bakrie Group issuer PT Bumi Resources Tbk (BUMI) share a place on the list of top losers.

After briefly sinking in early trading this morning, the Composite Stock Price Index (JCI) managed to shoot up today. JCI rose 0.81% to 6,162.55 at the close of the first trading session on Wednesday (29/9/2021).

According to IDX data, 262 stocks rose, 270 stocks declined and 124 stocks remained stagnant, with transaction value reaching Rp 13.39 trillion and trading volume reaching 27.17 billion shares.

Foreign investors in the stock market are flocking to the Indonesian stock exchange with a record net foreign purchase of Rp 694.28 billion in the regular market. Meanwhile, foreigners recorded a net purchase in the negotiating market and cash market of Rp 1.01 trillion.

Here are 5 stocks for today’s session II top gainers and losers (29/9).

Top Gainers

1. Yelooo Integra Datanet (YELO), shares +16,84%, to Rp 444, transaction Rp 110.4 M

2. Indah Kiat Pulp and Paper (INKP), +15.25%, to Rp 8,125, transaction Rp 338.9 M

3. Tjiwi Kimia Paper Factory (TKIM), +13.81%, to Rp 7,625, transaction Rp 138.0 M

4. Waskita Beton Precast (WSBP), +10.49%, to Rp. 158, transaction of Rp. 32.3 M

5. Eagle High Plantations (BWPT), +10.13%, to Rp 87, transaction Rp 178.1 M

Top Losers

1. DMS Propertindo (CITY), shares -6.92%, to Rp 148, transaction Rp 67.5 M

2. BRI Agroniaga (AGRO), -6.81%, to Rp 2,190, transaction Rp 284.5 M

3. Borneo Olah Means of Success (BOSS), -6.72%, to Rp 111, transaction Rp 43.2 M

4. Arkha Jayanti Persada (ARKA), -6.32%, to Rp 89, transaction Rp 15.6 M

5. Earth Resources (EARTH), -5.88%, to Rp 64, transaction Rp 101.8 M

INKP shares shot 15.25% to Rp 8,125/share, after being corrected by 0.70% on Tuesday’s trading. In a week, INKP’s stock rose 13.24%, while in a month it rose 4.50%.

After three years, TKIM’s ‘brother’ stock also shot up 13.81% to Rp 7,625/share, stopping the trend of weakening for 3 days in a row. This strengthening made TKIM shares rose 8.54% a week.

The increase in the two shares coincided with the INKP and TKIM dividend payment schedule which took place today.

Previously, the decision to distribute dividends received the approval of the shareholders through the Annual General Meeting of Shareholders (AGM) which was held on Thursday (26/8) last month.

According to information disclosure on the Indonesia Stock Exchange (IDX) website, INKP will distribute cash dividends of Rp 273,549,147,050 (Rp 273.55 billion) or equivalent to US$ 18,877,175.28 (US$ 18.88 million) at the Bank’s middle rate. Indonesia on July 31, 2021. Hereby, the cash dividend per share is Rp 50.

Meanwhile, TKIM will distribute cash dividends of Rp 77,830,589,250 (Rp 77.83 billion) or equivalent to US$ 5,370,960.54 (US$ 5.37 million) at the Bank Indonesia middle rate on July 31, 2021. cash per share is Rp. 25.

At the other end of the spectrum, BOSS shares sank to the bottom of the auto rejection limit (ARB) of 6.72% to Rp. 111/share, after rising fast for the last 3 days.

Like BOSS shares, BUMI shares also slumped 5.88%, after surging 21.43% in yesterday’s trading.

Some coal stocks began to decline, as investors took profit-taking after these stocks recorded an upward rally in the midst of a surge in coal prices that penetrated the level of US$200/ton.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

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