JAKARTA – Stocks of 96 constituents of Indeks52, coming from Main Index, High Dividend, High Growth, and Big Market Capitalisation categories, have shown positive growth rate up until last week (22/12). The performance surge shown by two companies of Prajogo Pangestu, for example, are the most prominent among other constituents.

Based on the data collected on Thursday (28/12), there are 17 constituents of Indeks52, under Main Index category, that have recorded positive growth since the index was launched on June 23, 2023. Amongst those, there are four state-owned companies (SOEs), coming from toll road infrastructure, telecommunication, and bank; two of which are listed as Top Five Stocks.

IDNFinancials listed five issuers with high-performing stocks from June 23 until December 22, 2023. They are PT Chandra Asri Tbk (TPIA), which soared 182.45%, followed by PT Barito pacific Tbk (BRPT) that shifted 90.54%, PT Jasa Marga (Persero) Tbk (JSMR) with 31.59% surge, PT Bayan Resources Tbk (BYAN) of 26,52% increase, and PT Bank Mandiri (Persero) Tbk (BMRI) with 17,73% jump.

In the basic chemicals industry, Prajogo Pangestu’s TPIA made itself as the issuer with the best performing stock. As of now, it increased IDR 3,795, from IDR 2,080 to IDR 5,875 per share. Its market capitalisation then grew as high as IDR 22.33 trillion, from IDR 181.67 trillion in June 2023 to IDR 255.20 trillion in November 2023.

At the runner-up position of the Top Five Stocks, sat BRPT. It was closed at IDR 1,410 per share on December 22, 2023, shifting IDR 670 per share from IDR 740 per share recorded on June 23, 2023. Its market capitalisation also shifted IDR 28.12 trillion from IDR 69.84 trillion to IDR 97.96 trillion. This shift allowed the company to place itself at the 18th spot at Top 50 Market Capitalisation of IDX, from the initial position at 23rd.

The increased performance occurred after its subsidiary, PT Barito Renewables Energy Tbk (BREN) debuted on Indonesia Stock Exchange (IDX) on October 9, 2023. During the initial public offering of 4.01 billion shares for IDR 780 each, BREN aimed to score IDR 3.13 trillion. The stock price was recorded at IDR 7,500 per share during the closing bell on December 22.

JSMR was closed at IDR 4,790 per share at last Friday’s closing bell, shifting IDR 1,150 from IDR 3,640 per share seen on June 23, 2023. This issuer recovers as the COVID-19 pandemic subsides, which enables the massive surge in volume of vehicles on toll roads under its management. During the closing bell on June 27, its market capitalisation was stuck at IDR 27.57 trillion, whereas it arrived at IDR 34.76 trillion as of December 22.

BYAN, representing coal mining industry, cemented its position as the top-performing issuer amidst the global coal price surge during the COVID-19 pandemic. At the end of the first half of 2023, it was closed at IDR 15,400 per share, shifting IDR 4,100 to IDR 19,500 per share. BYAN’s market capitalisation reportedly grew 24.35% or IDR 125.84 trillion to IDR 642.50 trillion in November 2023 from IDR 516.66 trillion seen in June 2023.

Lastly, BMRI moved up IDR 900 in stock price from IDR 5,075 per share to IDR 5,975. The market capitalisation of this state-owned bank was recorded at IDR 540.54 trillion, increasing 12.5% from the initial IDR 480.48 trillion. It surpasses the performance of other banks listed in the Main Index category of Indeks52. (LK/ZH)