Stock Recommendations for Today: CUAN, INET, and DMAS

The Jakarta Composite Index (IHSG) closed up 0.40% to the level of 6,462.43 in Thursday’s (17/9) trading. The index strength was supported by several stocks, with BMRI rising 2.11%, DSSA gaining 3.23%, and DCII growing 1.50% acting as leading movers. Conversely, AMMN fell 4.85%, TLKM weakened by 2.63%, and SRAJ corrected by 4.03%.

Foreign investors recorded a net buy of Rp152.69 billion in the regular market and Rp160.16 billion across all markets. From a sectoral perspective, 10 out of 11 sectors were in the green zone. The Consumer Cyclical sector recorded the highest gain of 1.63%, while the Health sector saw the deepest decline of 0.55%.

Positive movement was also observed in the US markets. The Dow Jones rose 0.61% to 51,778, the S&P 500 increased 1.14% to 7,637, and the Nasdaq rose 1.69% to 26,418. Easing concerns regarding oil supply disruptions in Saudi Arabia also pressured oil prices. In the domestic market, the EIDO ETF rose 0.95% and the MSCI Indonesia strengthened by 0.24%.

Regarding corporate actions, PT Sinergi Inti Andalan Prima Tbk (INET) has acquired a 60% stake in PT Sarana Global Indonesia (SGI) with a transaction value of Rp280.40 billion. This value is equivalent to 7.35% of INET’s equity, which reaches Rp3.81 trillion, meaning the transaction is not categorised as a material or affiliated transaction.

The acquisition was carried out through the purchase of 180,000 new shares of SGI. Through this transaction, SGI becomes a subsidiary of INET, expanding the group’s business scope into engineering, procurement, and construction (EPC), as well as the maintenance of submarine cable systems for fibre optic networks and electric cables. This move complements INET’s core business in fibre optic networks, as the company is currently developing a national fibre optic backbone spanning approximately 21,800 kilometres.

SGI brings experience in several Palapa Ring projects across the Western, Eastern, and Central regions. Additionally, SGI holds long-term maintenance contracts that form part of its recurring revenue base, alongside its Pacific Guardian and Nostag 10 submarine cable fleets.

Furthermore, PT Sariguna Primatirta Tbk (CLEO) is expanding its production capacity throughout 2026 by operating several new factories. A factory in Palu will begin operations in the third quarter of 2026, while facilities in Pontianak and Pekanbaru are targeted to start operating in the fourth quarter of 2026. This expansion will increase the reach of CLEO’s production network, which currently comprises 33 drinking water factories across various cities.

This capacity increase follows the company’s performance in the first half of 2026, where net sales grew 23.78% year-on-year to Rp1.69 trillion, compared to Rp1.37 trillion in the same period the previous year. Net profit also increased 27.04% YoY to Rp262.51 billion from Rp206.64 billion. The bottled product segment was the largest contributor to the company’s sales.

In the second half of 2026, CLEO is also expanding its distribution network. Currently, the company has approximately 11,000 distribution partners and 500 internal distribution points. Beyond expanding distribution, CLEO is developing its product line with the launch of the CLEO Practical 15-Litre Gallon on 5 September 2026, using packaging claimed to be 100% BPA-free.

Meanwhile, PT Merdeka Battery Materials Tbk (MBMA) has announced a plan for a share buyback of up to 1.47 billion shares. The company has prepared funds of up to Rp1.38 trillion, which includes brokerage fees and other costs. MBMA expects the buyback to not cause a decrease in revenue or changes to the company’s financing costs.

Based on proforma figures referring to the consolidated financial statements as of 31 March 2026, basic earnings per share was recorded at US$0.00028 with no material change. Meanwhile, the profit for the period attributable to the owners of the parent entity remained at US$29.95 million. Following the buyback, the weighted average number of shares outstanding proforma will decrease from 107.99 billion to 106.53 billion shares. The buyback programme will run for a maximum of three months, from 17 September to 16 December 2026.

Today’s Stock Recommendations from Mega Capital Sekuritas:

• CUAN - Buy 930-940 | TP 960-980 | SL 885

• INET - Buy 332-336 | TP 342-348 | SL 314

• DSSA - Buy 1105-1115 | TP 1140-1160 | SL 1040

• VKTR - Buy 755-765 | TP 780-800 | SL 720

• DMAS - Buy 193-195 | TP 198-200 | SL 185