JAKARTA – The stock of PT Ultra Jaya Milk Industry & Trading Company Tbk (ULTJ) rose 6.67%, arriving as one of Top 10 Gainers in yesterday’s (6/6) session. Its market cap increased to IDR 21.25 trillion, up IDR 1.3 trillion from IDR 19.92 trillion.

Based on IDNFinancials data today (7/6), ULTJ was reported as the only mid-class company entering top gainers following its price surge throughout the day last Thursday (6/6). The stock price went up IDR 115 to IDR 1,840 from IDR 1,725 per share seen last Wednesday (5/6).

Other issuers in top gainers’ list were penny stocks with market caps under IDR 1 trillion. For example, the market cap of PT Mineral Sumberdaya Mandiri Tbk (AKSI) was only IDR 109.44 billion, arriving at the top of gainers’ list with 34.51% surge, while market cap of PT Pioneerindo Gourmet International Tbk (PTSP), the runner-up, was at IDR 225.22 billion with 22.89% increase in stock price.

Investors inclination towards ULTJ’s shares is due to its ever-increasing performance. The prospect is said to continue improving in line with the work plan of the elected president, Prabowo Subianto, to implement nutritious food programme for the masses.

For information, ULTJ records net profit surge of 14.01% year-on-year (yoy) to IDR 405.09 billion in Q1 2024 from IDR 355.30 billion in Q1 2023. Its revenue also grew from IDR 2.23 trillion to IDR 2.29 trillion. (LK/ZH)