JAKARTA – Stocks of two issuers in the telecommunication industry reported positive shifts this morning (23/1). The surge follows the recent reveal of IDX30 constituents list by Indonesia Stock Exchange, which includes the telco stocks in question, PT XL Axiata Tbk (EXCL) and PT Indosat Tbk (ISAT), yesterday (22/1).

Based on IDX data, EXCL and ISAT are replacing PT Aspirasi Hidup Indonesia Tbk (ACES) and PT Pertamina Geothermal Energy Tbk (PGEO) as IDX30 constituents following the index major evaluation. The list of current constituents will be effective from February 3 until April 30, 2025.

EXCL books free float shares of 4.35 billion, equal to 33.29% of 13.18 billion listed shares. For ISAT, its free float shares reach 5.27 billion, or 16.36% of total listed shares of 32.25 billion.

Yesterday (22/1), EXCL was closed IDR 10 higher to IDR 2,280. Until 9.30 AM WIB today (23/1), EXCL continued to climb to IDR 2,300.

Positive trend was also apparent in ISAT, as at 9.37 AM WIB, its shares arrived at IDR 2,330 per share, up from IDR 2,300 per share recorded at the closing bell yesterday. (LK/ZH)