Stock Recommendations Today: Check PGAS to BSSR
Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) closed down 1.89% at 5,873.37 in Wednesday’s trading (8/7).
The index weakened amid selling by foreign investors, who 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’s movement, while BBCA, BBRI and AMMN were the biggest drags.
By sector, 10 of 11 sectors ended in the red. The Basic Industry sector recorded the deepest decline of 4.35%, while the Health sector was the only sector 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 still managed to gain 0.20%.
Market sentiment was also influenced by the decision of S&P Dow Jones Indices (S&P DJI) to include Indonesia in its 2027 Country Classification Watchlist. Indonesia could potentially see its classification change from Emerging Market to Special Measures/Frontier Market if issues over share ownership transparency and the effectiveness of shareholder information disclosure are not resolved during the evaluation period. In line with this sentiment, the EIDO ETF index fell 2.16% and MSCI Indonesia weakened 1.80%.
Meanwhile, PT Krakatau Steel Tbk. (KRAS) has officially divested its entire shareholding in Krakatau Osaka Steel (KOS) to Osaka Steel Co., Ltd. (OSC). The transaction, effective 29 June 2026, covered 14,000 Series B shares, equivalent to 20.00% of voting rights and 14.00% of total fully paid-up shares.
From the divestment, KRAS received cash of US$14 million, or around Rp249.98 billion (JISDOR rate on 29 June 2026: Rp17,856 per US dollar), which was paid in full by OSC. The transaction also ended KRAS’s ownership in KOS.
The corporate action was carried out amid improving financial performance. In the first quarter of 2026, KRAS posted a net profit of US$2.58 million, reversing from a net loss of US$46.90 million in the same period a year earlier.
Then there is PT Nusatama Berkah Tbk. (NTBK), which plans to carry out a capital increase through a rights issue with a target of raising Rp500 billion.
The company will allocate around 40% of the funds as additional capital to its subsidiary Pilar Pratama Dinamika to strengthen its capital structure and support business development. Some 34% will be used to develop assembling plant facilities, including increasing production capacity, building new facilities, land acquisition, and adding machinery and equipment.
Furthermore, 16% of the funds will be directed towards supporting the electric vehicle (EV) business, while the remaining 10% is set aside for a planned acquisition of a mining services company as part of business portfolio development.
In addition, NTBK’s subsidiary has also entered a partnership with Magma Capital Resources Private through MCR Bangun Persada to develop the mineral and coal trading business. The collaboration includes the use of NTBK’s electric trucks for hauling 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