Stock Recommendations Today: Check PGAS to BSSR

The Jakarta Composite Index (IHSG) closed down 1.89% at 5,873.37 on Wednesday (8/7). The decline occurred amid a foreign investor sell-off, which recorded a net sell of Rp674.26 billion in the regular market and Rp689.33 billion across all markets. Shares of TLKM, JECX, and ENRG were the main supports for the IHSG, while BBCA, BBRI, and AMMN were the biggest drags. By sector, 10 out of 11 sectors ended in the red. The basic industry sector recorded the deepest decline at 4.35%, while the health sector was the only one to strengthen, rising 1.00%. In global markets, US stock indices closed mixed. The Dow Jones fell 1.09%, the S&P 500 weakened 0.28%, while the Nasdaq managed to gain 0.20%. Market sentiment was also influenced by S&P Dow Jones Indices’ decision to include Indonesia on the 2027 Country Classification Watchlist. Indonesia potentially faces a reclassification from Emerging Market to Special Measures/Frontier Market if issues regarding share ownership transparency and the effectiveness of shareholder information disclosure remain unresolved during the evaluation period. In line with this sentiment, the EIDO ETF index fell 2.16% and the MSCI Indonesia weakened 1.80%. Separately, PT Krakatau Steel Tbk. (KRAS) has officially divested its entire stake in Krakatau Osaka Steel (KOS) to Osaka Steel Co., Ltd. (OSC). The transaction, effective 29 June 2026, involved 14,000 Series B shares, representing 20.00% of voting rights and 14.00% of total issued and fully paid capital. From the divestment, KRAS received cash proceeds of USD14 million, or approximately Rp249.98 billion, which has been fully paid by OSC. The transaction ends KRAS’s ownership in KOS. This corporate action took place amid an improvement in the company’s financial performance. In the first quarter of 2026, KRAS recorded a net profit of USD2.58 million, a turnaround from a net loss of USD46.90 million in the same period the previous year. Additionally, PT Nusatama Berkah Tbk. (NTBK) plans to raise capital through a rights issue, targeting proceeds of Rp500 billion. The company will allocate approximately 40% of the funds as additional capital for its subsidiary Pilar Pratama Dinamika to strengthen its capital structure and support business development. A further 34% will be used to develop assembling plant facilities, including increasing production capacity, constructing new facilities, purchasing land, and adding machinery and equipment. Another 16% will be directed towards developing the electric vehicle (EV) business, while the remaining 10% is earmarked for a planned acquisition of a mining services company as part of its business portfolio expansion. In addition, NTBK’s subsidiary has entered into a collaboration with Magma Capital Resources through MCR Bangun Persada to develop the mineral and coal trading business. The collaboration includes the use of NTBK’s electric trucks for transportation activities from mining areas to ports, with a potential coal market volume of up to 500,000 metric tonnes per month. Today’s stock recommendations: PGAS - Buy 1410-1420 | TP 1440-1465 | SL 1340; AKRA - Buy 1300-1315 | TP 1330-1350 | SL 1240; MIDI - Buy 280-284 | TP 290-294 | SL 264; CMRY - Buy 4680-4700 | TP 4750-4820 | SL 4450; BSSR - Buy 4030-4040 | TP 4080-4140 | SL 3920.