Jakarta, CNBC Indonesia – Construction sector stocks, especially state-owned enterprises (BUMN) construction companies and their subsidiaries, skyrocketed again at the start of the first trading session, this Tuesday (17/11), after yesterday’s “rampage”.
Trade data shows PT Adhi Karya Tbk (ADHI) shares, which yesterday shot 17.14% to the level of Rp 820 / share, with a transaction value of Rp 133.5 billion, this time also shot up again.
ADHI shares this morning led the top gainers on the IDX with a 10.98% increase at the level of Rp 910 / share.
Next, shares of PT PP Tbk (PTPP) also rose 5% at the level of IDR 1,155 / share.
Then the shares of PT Waskita Beton Precast Tbk (WSBP) rose 3.55% at the level of IDR 204 / share. Its parent stock, PT Waskita Karya Tbk (WSKT), also rose 2.94% at the level of IDR 1,050 / share.
The shares of PT Wijaya Karya Tbk (WIKA) also rose 3.40% to the level of IDR 1,515 / share and shares of PT Jasa Marga Tbk (JSMR) edged up 0.69% to IDR 4,360 / share.
The strengthening of construction stocks also occurred amid positive news in this sector.
Last week, the Yogyakarta-Bawen Toll Road, with an investment of Rp. 14 trillion, was finally constructed. This was marked by the signing of a toll road concession agreement (PPJT), which took place in Central Java, last Friday (13/11/20).
A consortium consisting of 5 state-owned companies worked on this project after winning the auction. This consortium includes JSMR with a share of 60%, ADHI 12.5%, WSKT 12.5%, PTPP 12.5% and PT Brantas Abipraya (Persero) 2.5%.
“With the signing of this PPJT, I am very grateful because later Joglosemar (Jogja Solo Semarang) will become an area that is connected to one another,” said Minister of Public Works and Public Housing (PUPR) Basuki Hadimuljono, while attending the PPJT signing procession.
On the other hand, Artha Sekuritas and Samuel Sekuritas also recommended construction shares, including PTPP and WIKA.
“On Tuesday, the JCI is predicted to strengthen even though it is still overshadowed by many positive sentiments from abroad regarding the Covid-19 vaccine,” wrote Artha Sekuritas.
“Meanwhile, domestic investors are quite optimistic to hear Bank Indonesia’s prediction, which estimates that fourth quarter GDP will grow positively. On the other hand, investors still need to pay close attention to the number of Covid-19 cases in Indonesia, which is rising rapidly again,” wrote the securities.
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