Stock Recommendations Today: Check PACK to DEWA

The Jakarta Composite Index (IHSG) closed down 1.88% at 6,196.43 on Friday’s trading. Amid the market weakness, shares of MORA rose 3.94%, MPRO gained 3.96%, and BULL surged 12.31%, becoming the main supporters of the index. Conversely, the biggest pressure came from BMRI shares, which fell 5.71%, followed by AMMN, which weakened 4.27%, and BUMI, which corrected 6.56%. Foreign investors recorded a net sell of Rp1.25 trillion in the regular market and Rp1.36 trillion across all markets. All sectors on the exchange ended in the red, with the consumer cyclical sector recording the deepest decline of 3.04%. In global markets, US stock exchanges closed mixed. The Dow Jones index rose 0.46% to 51,947, the S&P 500 moved relatively flat with a 0.05% increase to 7,411, while the Nasdaq fell 0.64% to 24,975. Foreign net selling, which reached Rp3.37 trillion over the past week, remains a factor watched by market participants, amid persistently high oil prices and a weakening rupiah exchange rate. Meanwhile, the EIDO ETF and the MSCI Indonesia index corrected by 1.13% and 1.52%, respectively. In corporate actions, PT Amman Mineral Internasional Tbk. (AMMN) has officially completed the construction of its copper smelter in West Sumbawa following the signing of a Completion and Project Acceptance Certificate (PAC), marking the start of long-term commercial operations. The facility, designated a National Strategic Project (PSN) and operated by PT Amman Mineral Industri (AMIN), has a processing capacity of up to 900,000 metric tonnes of copper concentrate per year sourced from the Batu Hijau mine and, in the future, the Elang mine. The smelter is capable of producing approximately 220,000 tonnes of copper cathode and 830,000 tonnes of sulphuric acid annually. The processed concentrate is also refined at the Precious Metal Refinery (PMR) to produce up to 579,000 ounces of pure gold, 1.8 million ounces of pure silver, and 77 tonnes of selenium per year. Having previously produced its first copper cathode in March 2025 and first pure gold in July 2025, the PAC completion marks a significant milestone in AMMN’s transformation into an integrated upstream-to-downstream mining company. Furthermore, PT Tempo Scan Pacific Tbk. (TSPC) has entered into a joint venture with Chia Tai Tianqing Pharmaceutical Group (CTTQ), a subsidiary of Sino Biopharmaceutical, through the establishment of a new company named Tempo CTTQ Biopharmaceutical Indonesia (TCBI). In the ownership structure, Sino Biopharmaceutical holds 51% and TSPC holds 49%. This long-term collaboration includes technology transfer in the pharmaceutical sector to strengthen specialty pharmaceutical product development while supporting the construction of domestic biopharmaceutical facilities. The move comes as TSPC’s first-quarter 2026 revenue grew 4.12% year-on-year to Rp3.41 trillion, supported by contributions from the consumer products and cosmetics segment of Rp1.22 trillion, pharmaceuticals of Rp1.10 trillion, and distribution services of Rp1.09 trillion. Meanwhile, net profit was recorded at Rp351.81 billion, lower than the Rp409.22 billion in the same period the previous year. Separately, PT DCI Indonesia Tbk. (DCII) posted first-half 2026 revenue of Rp1.78 trillion, an increase of 33.23% compared to the same period last year. Net profit also grew 18.74% to Rp732.53 billion. This growth was mainly supported by the colocation services business, which contributed revenue of Rp1.67 trillion from the group’s data centre facilities in Bekasi. In line with capacity development, the company is completing the construction of the JK6 data centre phases 3 to 5, which has reached approximately 80% progress and is targeted to commence operations this year. Additionally, the initial construction of the JK7 and JK8 data centres has also begun to support increased colocation service capacity. Mega Capital Sekuritas issued stock recommendations for PACK (Buy 228-232, TP 238-242, SL 216), SGER (Buy 436-440, TP 446-450, SL 414), SUNI (Buy 665-660, TP 680-690, SL 630), MDIA (Buy 124-127, TP 129-131, SL 117), and DEWA (Buy 436-440, TP 446-452, SL 410).