Today's Stock Recommendations: Check TINS, BULL, and RMKE
The Jakarta Composite Index (IHSG) closed down 0.86% at 6,394.13 on Wednesday (19/8). The index decline occurred amid pressure on a number of large-capitalisation stocks.
DSSA rose 6.67%, ISAT strengthened 5.38%, and MEDC increased 6.34%, becoming stocks that supported the index movement. Conversely, BYAN fell 9.41%, AMMN weakened 2.59%, and CASA corrected 4.00%.
Selling pressure on BYAN weighed on the IHSG after it had previously recorded gains for two consecutive days and reached the upper auto rejection limit (ARA). Foreign investors booked a net sell of Rp488.49 billion in the regular market. However, when including the entire market, foreign investors recorded a net buy of Rp933.53 billion.
From a sectoral perspective, nine of the 11 sectors ended in the red. The Basic Materials sector recorded a decline of 1.21%, while the Infrastructures sector was the strongest with a gain of 0.43%.
In the United States market, the three main indices closed higher. The Dow Jones rose 0.22% to 53,463, the S&P 500 added 0.21% to 7,707, and the Nasdaq increased 0.16% to 26,331.
Meanwhile, the EIDO ETF strengthened 0.16%, while MSCI Indonesia fell 0.25%.
On the corporate action front, PT Energi Mega Persada Tbk (ENRG) recorded performance growth in the first half of 2026. The company’s revenue rose 18.51% year-on-year to US$283.37 million, compared with US$239.11 million in the same period the previous year.
ENRG’s EBITDA increased 24.82% year-on-year to US$186.28 million from US$149.23 million previously. Net profit also grew 26.37% year-on-year to US$45.22 million, compared with US$35.78 million in 1H25.
The growth was mainly supported by the contribution of oil and gas assets that have entered the production stage.
In terms of share price movement, ENRG is still in a short-term consolidation phase and has experienced rejection at the support area. Technically, ENRG shares have the potential to move towards the Rp1,345 level.
Next, PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) is preparing its defence Maintenance, Repair, and Overhaul (MRO) business as a new source of growth. The company is targeting revenue contribution from this segment to reach 20% within the next five years to 2030, up from around 10% in 2026.
The target is in line with the expected increase in defence fleet maintenance needs as the modernisation programme for primary weapon systems (alutsista) progresses, including opportunities for military aircraft maintenance.
In 1H26, GMFI booked revenue of US$114.94 million, growing 20.53% year-on-year. The company’s net profit also increased 78.28% year-on-year to US$6.76 million.
For 2026, GMFI is targeting revenue of US$542.79 million and net profit of US$34.47 million.
The development of the defence business is also supported by the completion of the C-130H Hercules aircraft modernisation and the development of Kertajati Aerospace Park, which is directed as a defence MRO ecosystem. Beyond the domestic market, GMFI also sees opportunities to develop its defence MRO business in international markets.
Then there is PT Prodia Widyahusada Tbk (PRDA), which announced a share buyback plan with a maximum fund of Rp150 billion sourced from the company’s internal cash.
The buyback will be carried out without requiring approval from the General Meeting of Shareholders (RUPS), referring to POJK 13/2023 and OJK Letter No. S-10/2026.
The number of shares repurchased will not exceed 20% of the company’s paid-up capital. The company is also taking into account shares from the 2025 buyback that are currently recorded as treasury stock amounting to 5.09% of paid-up capital.
Based on the pro forma financial statements as of 31 December 2025, if the buyback is carried out in full, PRDA’s total assets are estimated to fall to Rp2.55 trillion from Rp2.70 trillion. Meanwhile, total equity is projected to become Rp2.24 trillion from Rp2.39 trillion.
On the other hand, earnings per share are estimated to increase from Rp227.25 to Rp240.33. ROE is also projected to rise from 8.0% to 8.5%.
The repurchased shares will be held as treasury stock for a maximum period of three years after the buyback period ends. The buyback will be carried out over three months, from 20 August to 19 November 2026.
Today’s Stock Recommendations from Mega Capital Sekuritas:
TINS - Buy 4020-4040 | TP 4120-4230 | SL 3800
BULL - Buy 456-460 | TP 464-470 | SL 432
MEDC - Buy 1410-1425 | TP 1440-1475 | SL 1340
SSIA - Buy 1745-1760 | TP 1785-1820 | SL 1660
RMKE - Buy 432-438 | TP 444-454 | SL 408