JAKARTA (TheInsiderStories) – The Jakarta Composite Index (JCI) closed up 0.36 percent or 23.50 points to the level of 6,525.27 on Friday (03/22). On a weekly basis, the index was recorded to increase 0.99 percent to position 6,525.24.
Amid this increase, there were issuers who posted the highest and lowest increases. The increase was also accompanied by corporate actions of a number of issuers.
Two stocks recorded the sharpest price increase on Friday’ trading. Shares of PT Wahana Interfood Nusantara Tbk (IDX: COCO) and PT Global Teleshop Tbk (IDX: GLOB) recorded the biggest gain after closing up 25 percent to Rp525 per share and Rp440 per share respectively.
While, shares of PT Siwani Makmur Tbk (IDX: SIMA) posted the deepest price decline with a 25 percent decline, while touching the limit of auto rejection to the level of Rp 168 per share. Occupying the next weakest position was the shares of PT Kedaung Indah Can Tbk (IDX: KICI) which closed down 16.13 percent at the level of Rp260 per share.
PT Krakatau Steel Tbk (IDX: KRAS)
The Corruption Eradication Commission conducted an arrest operation against one of the directors Wisnu Kuncoro. The agency has set him as a suspect in a bribery case for the procurement of goods and services between Krakatau Steel and the private sector.
PT Menteng Heritage Realty Tbk
A company engaged in hospitality and investment, is ready to release 20 percent of its shares through the mechanism of the initial public offering. The company will offer 1.19 billion shares of the total issued and fully paid by the company at a price of Rp101-Rp105. The company targets to raise funds Rp120.36 billion.
PT Indofood CBP Sukses Makmur Tbk (IDX: ICBP)
Unit of food-maker PT Indofood Sukses Makmur Tbk (IDX: INDF) posted a net profit Rp4.58 trillion at the end of 2018, an increase of 20.5 percent from the previous year’ Rp3.89 trillion. The increasing of ICBP’ net profit in line with consolidated net sales which rose 7.9 percent to Rp38.41 trillion in 2018 from the previous Rp35.61 trillion. On the other hand, cost of goods sold also rose to Rp26.14 trillion from Rp24.54 trillion.
PT Indocement Tunggal Prakarsa Tbk (IDX: INTP)
The cement producer posted a net profit in 2018 of Rp1.15 trillion or a decrease of 38.38 percent from the previous year of Rp 1.86 trillion. The decline in net profit last year was due to the increase in world coal prices. Energy costs whose value reaches 40-55 percent are the biggest burden that must be borne by the company.
￼PT Waskita Beton Precast Tbk (IDX: WSBP)
State-owned construction firm targets business revenues in 2019 to reach Rp9.4 trillion in 2019 and net profit of Rp1.3 trillion. While, the target value of the new contract is Rp10.39 trillion.
Furthermore, Binaartha Sekuritas estimates that the composite stock price index on Monday, March 25, 2019 will be corrected and has the opportunity to go towards the support level at 6,480-6,503. Binaartha Sekuritas also recommended several shares that should be looked at by investors, namely, PT Antam Tbk (IDX: ANTM), PT Garuda Maintenance Facility Aero Asia Tbk (IDX: GMFI), PT Vale Indonesia Tbk (IDX: INCO), PT London Sumatra Indonesia Tbk (IDX: LSIP), PT Perusahaan Gas Negara Tbk (IDX: PGAS) and PT PP Properti Tbk (IDX: PPRO).
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia