Stock Recommendations Today: TLKM, INTP, and Others in Focus

The Jakarta Composite Index (IHSG) closed relatively stable on Monday (3/8), edging down a marginal 0.03% to 6,234.50. The index’s movement was supported by gains in PT Telkom Indonesia Tbk (TLKM), which surged 4.18%, along with AMMN (+4.39%) and MAPI (+21.86%). Conversely, declines in BREN (-4.18%), DCII (-1.66%), and BBRI (-0.66%) capped the index’s upside. Foreign investors recorded a net sell of Rp758.71 billion in the regular market and Rp708.00 billion across all markets. On a sectoral basis, eight out of eleven sectors closed lower, with the technology sector falling the deepest at 1.52%, while the cyclical sector led gains with a 1.64% increase. External sentiment was positive after US stock markets closed higher. The Dow Jones Industrial Average rose 1.32% to 53,178, followed by the S&P 500 which strengthened 1.48% to 7,600, and the Nasdaq which added 2.13% to 25,913. Market participants are also observing the implementation of new special notations by the Indonesia Stock Exchange, effective 3 August 2026, including notation L for listed companies that have not submitted financial reports, and notations B and M related to bankruptcy or suspension of debt payment obligations. The implementation of notation P, concerning the fulfilment of free float requirements, will be carried out in stages starting 30 November 2026 for the Acceleration Board and 30 April 2027 for the Main and Development Boards. In the global market, the EIDO ETF strengthened by 0.81%, while the MSCI Indonesia index was relatively flat with a slight decline of 0.07%. On the corporate action front, PT Telkom Indonesia Tbk (TLKM) reported consolidated revenue of Rp75.90 trillion for the first half of 2026, a 3.90% increase from Rp73.05 trillion in the same period last year. This growth was driven by the B2B Infrastructure segment, which rose 19.00% to Rp33.10 trillion, supported by increased data, internet, and IT services business. On the retail side, Telkomsel’s revenue grew 3.30% to Rp55.60 trillion, underpinned by an 11.00% increase in digital business and a rise in mobile average revenue per user to Rp45,600 from Rp41,835 in the first half of 2025. Net profit attributable to owners of the parent entity increased 1.40% to Rp10.60 trillion, aided by efficiency programmes that also boosted operating cash flow by 7.00% to Rp34.90 trillion. PT Bukit Uluwatu Villa Tbk (BUVA) plans to conduct a rights issue with a maximum value of Rp1.54 trillion. The company will issue up to 6.15 billion new shares, representing 20% of the issued and paid-up capital post-corporate action, at an exercise price of Rp250 per share. Every four existing shares held as of 28 September 2026 will entitle the holder to one right to purchase one new share, with a maximum dilution potential of 20%. Proceeds will be used for capital injection into Bukit Bali Permai to acquire Royal Uluwatu Residence and develop the West Resort Uluwatu project for Rp420.49 billion, early repayment of financing loans of Rp417.80 billion, Uluwatu Estate infrastructure development of Rp396.19 billion, renovation of Alila Ubud for Rp150 billion, and capital injection into Bukit Lagoi Villa of Rp150 billion. PT Triputra Agro Persada Tbk (TAPG) has set an interim cash dividend for the 2026 financial year at Rp60 per share, totalling approximately Rp1.19 trillion. This reflects a dividend payout ratio of 58.39% from the first half of 2026 net profit. The company previously reported net profit attributable to owners of the parent entity of Rp2.04 trillion, retained earnings of Rp6.21 trillion, and total equity of Rp11.93 trillion. Based on the closing share price on 3 August at Rp1,840 per share, the interim dividend represents a yield of approximately 3.26%. The cum-dividend date in the regular and negotiation markets is set for 11 August 2026, with dividend payment scheduled no later than 31 August 2026.