Today's Stock Recommendations: BFIN, INCO to WIFI
Jakarta, CNBC Indonesia — The Composite Stock Price Index (IHSG) closed trading on Friday (24/04) in negative territory, down 3.38% to 7,129.49. Several stocks such as APIC, BFIN, and ANTM supported the movement, while pressure came from BBCA, DSSA, and BBRI.
Foreign investor selling reached Rp3.02 trillion in the regular market and Rp2 trillion across all markets. Sectorally, all indices experienced corrections, with the consumer cyclical sector recording the deepest decline of 4.27%.
Globally, the US stock market closed mixed, with the Dow Jones weakening 0.16%, while the S&P 500 and Nasdaq rose 0.80% and 1.63%, respectively.
External sentiment was also influenced by US President Donald Trump’s decision to cancel plans to send a special envoy to Pakistan, reflected in the 2.41% weakening of the EIDO ETF and 3.96% for MSCI Indonesia.
From corporate actions, Argo Pantes (ARGO) has begun construction of a build-to-suit warehouse for J&T Cargo, marked by a groundbreaking on 23 April. The project is estimated to be worth around Rp120 billion and is targeted for completion in February 2027.
The facility will strengthen J&T Cargo’s distribution network, particularly in the Jabodetabek region. This step continues previous cooperation between ARGO and PT Global Yimi Cargo, where both have signed a warehouse lease agreement with a contract value of nearly Rp221 billion for a 10-year period.
In that agreement, the company leases land of 44,188 square metres along with warehouse and office buildings with a total area of more than 23,000 square metres.
Meanwhile, Garudafood (GOOD) has set a cash dividend distribution for the 2025 fiscal year at Rp350.34 billion or Rp9.50 per share. This amount is equivalent to 50.87% of the net profit attributable to owners of the entity at Rp688.65 billion.
The company’s operational performance showed sales growth of 7.27% to Rp13.12 trillion, driven by a 9.87% increase in the food segment sales to Rp11.79 trillion. Earnings per share also rose to Rp18.67 from the previous Rp16.93. The dividend cum date is scheduled for 6 May, with final dividend payment on 20 May.