JAKARTA (TheInsiderStories) – The Jakarta Composite Index closed down 2.75 percent to 6,411.25 in trading of Monday, March 25, 2019, from the previous trading on Friday which reached 6,525.27.
Amid the weakness, a number of issuers still posted an increase, although others posted a decline. On the other hand, issuers also conducted corporate actions and report on financial performance in 2018.
Top Gainers
PT Estika Tata Tiara Tbk (IDX: BEEF) shares posted the sharpest price increase in trading of Monday, with an increase of 26.32 percent at the level of Rp240 per share, while also touching the limit of the automatic stock trading stop.
Following the strengthening of BEEF is the shares of PT Wahana Interfood Nusantara Tbk (IDX: COCO) which shot 23.81 percent and closed at Rp. 650 per share.
Top Losers
For the second day, shares of PT Siwani Makmur Tbk (IDX: SIMA) declined 22.62 percent to Rp130 ​​per share. Following the weakening of SIMA shares, PT Perdana Bangun Pusaka Tbk (IDX: KONI) shares ended 17.99 percent lower at Rp310 per share.
PT Wijaya Karya Tbk (IDX: WIKA)
State-owned developer firm,succeeded in pocketing the value of the new contract reaching Rp10.5 trillion (US$744.68 million) until March 25. This year WIKA was pegged Rp61.74 trillion of contract. The acquisition of the new contract is expected to sustain net profit in the first three months in 2019.
PT Blue Bird Tbk (IDX: BIRD)
The taxi operator posted a net profit of Rp457.30 billion in 2018 or rose 7.63 percent from the previous year Rp424.86 billion. Earnings were supported by net income of Rp4.21 trillion and operating expenses of Rp621.3 billion.
PT Indo Tambangraya Megah Tbk (IDX: ITMG)
Coal mining company posted a net profit of $261.95 million, an increase of 3.54 percent from the 2017 $253 million. From the profit, the company distributed dividends of $261.5 million.
PT Sarana Multigriya Finansial (SMF)
The state financing company will issue bonds with a target of issuing Rp21 trillion for two years preiod. In the first stage, the company will release bonds worth Rp2 trillion.
PT Lippo Karawaci Tbk (IDX: LPKR)
Lippo Group’ property developer conducted a tender for senior debt worth $410 million which will mature in 2022 with a 7 percent coupon and senior debt worth $ 425 million which will mature in 2026 with coupon 6.75 percent. These bonds is part of the debt restructuring plan of the LPKR.
PT AirAsia Indonesia Tbk (IDX: CMPP)
Flight carrier owned by Malaysian AirAsia Bhd throughout 2018 recorded 13 percent passenger growth from 4.63 million passengers to 5.24 million passengers. The number rise was driven by an increase in capacity from 5.55 million seats to 6.41 million seats. For this year, it targets the number of passengers to grow by 15 percent.
Furthermore, Reliance Sekuritas estimates the Jakarta Composite Index will move lower at the range 6,350 to 6,425. The securities house considered shares to watch for today are PT Japfa Comfeed Indonesia Tbk (IDX:JPFA), PT Indofood Sukses Makmur Tbk (IDX:INDF), PT Indofood CBP Sukses Makmur Tbk (IDX:ICBP), PT Gudang Garam Tbk (IDX:GGRM), PT Telekomunikasi Indonesia Tbk (IDX:TLKM), PT Perusahaan Gas Negara Tbk (IDX:PGAS), PT Erajaya Swasembada Tbk (ERAA), and PT AKR Corporindo Tbk (IDX:AKRA).
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia