BREN and DSSA Enter HSC List: Should Retail Investors Sell or Hold?

Two major stocks, PT Barito Renewables Energy Tbk (BREN) and PT Dian Swastatika Sentosa Tbk (DSSA), have caught the attention of market players after being included in the list of stocks with high shareholding concentration (HSC). This has sparked concerns regarding liquidity risks and the potential for exclusion from global indices such as the Morgan Stanley Capital International (MSCI). According to data from the Indonesia Stock Exchange (BEI), the level of concentrated ownership in BREN shares reaches 97.31 per cent, while DSSA stands at 95.76 per cent. This high concentration indicates a relatively small portion of shares circulating in the public domain, making price movements more volatile. BREN previously experienced euphoria in price increases triggered by global geopolitical dynamics, particularly the US-Iran conflict. However, the stock is now entering a profit-taking phase and could test support levels. BREN shares closed up 350 points or 7.53 per cent at 5,000 on Wednesday (8/4/2026). In the early session, the price surged sharply to touch 5,650 before facing significant selling pressure, dropping to the 4,650 area. “For BREN, it’s in a downtrend; it experienced euphoria and strengthening due to the US-Iran dynamics, more of an euphoria,” said Nafan when contacted by Kompas.com on Wednesday evening. Meanwhile, DSSA’s movements are still seen as having room for strengthening. One catalyst is the 1:25 stock split policy, which is expected to boost liquidity and attract retail investor interest. This step is considered to make DSSA’s valuation more appealing to the market, along with increased accessibility of share prices for investors. “For DSSA, it’s due to the 1 to 25 stock split factor. This is to increase liquidity in DSSA’s share price movements and boost interest from retail investors to buy, acquire, or accumulate DSSA shares,” he explained. DSSA shares closed with a slight gain of 1.13 per cent or up 750 points at 67,000 on Wednesday’s trading.