Today's Stock Recommendations: ESSA, IATA, to COCO
The Jakarta Composite Index (IHSG) ended Monday’s (31/8) trading with a 0.11% gain to 6,525.48. The index’s rise was supported by a number of stocks, including BBRI which rose 1.88%, ADRO which strengthened 6.37%, and EMAS which gained 3.23%. Conversely, BYAN fell 3.43%, AMMN weakened 1.81%, and SRAJ corrected 4.86%.
Foreign investors recorded a net sell of Rp710.56 billion in the regular market and Rp434.25 billion across all markets. Of the 11 sectors traded, eight sectors closed higher. The Industrials sector recorded a 1.46% gain, while the Healthcare sector weakened 1.66%.
In the United States stock market, the Dow Jones fell 0.70% to 53,185, the S&P 500 corrected 0.33% to 7,686, and the Nasdaq weakened 0.12% to 26,370. Foreign selling pressure following the MSCI August 2026 rebalancing was also visible in CPIN with a net sell of Rp681.76 billion in the regular market. At the same time, the MSCI Indonesia index fell 3.74%, while the EIDO ETF rose 0.55%.
On the corporate side, PT Phapros Tbk (PEHA) recorded improved performance in the first half of 2026. The company’s net profit reached Rp14.97 billion, up from Rp2.45 billion in the same period the previous year.
This performance was supported by sales growth and operational efficiency. PEHA’s net sales rose 5.37% year-on-year to Rp482.85 billion from Rp458.22 billion previously.
On the cost side, the cost of goods sold (COGS) ratio fell from 52% to 49%. This condition pushed the gross profit margin up from 48.0% to 50.4%.
PEHA is also preparing a non-steroidal anti-inflammatory drug (NSAID) powder product for dental therapy targeted for launch in the fourth quarter of 2026.
In the export market, Phapros has shipped its products to Cambodia, the Philippines, Myanmar, Nigeria, Peru, and Papua New Guinea since 2014. For the third and fourth quarters of 2026, the company is targeting shipments to the Philippines, Timor-Leste, and Cambodia with an export sales target of Rp5 billion.
Meanwhile, PT Jantra Grupo Indonesia Tbk (KAQI) continued its business expansion by inaugurating its second branch in West Surabaya on 29 August 2026. This move was made after the East Surabaya branch had been operating at maximum capacity.
For the new branch, KAQI allocated capital expenditure (capex) of Rp5.8 billion with a 12-year land lease scheme. The company is targeting an investment payback period of 28 months.
Overall, KAQI’s two Surabaya branches are projected to contribute up to 10.50% to the company’s consolidated revenue by the end of 2026.
Business growth can also be supported by the increasing need for electric vehicle (EV) services. In addition, KAQI is exploring B2B business cooperation with a regional development bank in East Java for operational fleet management.
Then there is also PT Astra International Tbk (ASII) which announced a Voluntary Tender Offer for shares of PT Astra Otoparts Tbk (AUTO) on 31 August 2026. The corporate action is aimed at increasing ASII’s ownership in AUTO and is carried out in accordance with POJK 54/POJK.04/2015 concerning Voluntary Tender Offers.
ASII plans to purchase a maximum of 238.44 million AUTO shares, or approximately 4.94% of the company’s issued and paid-up capital. The price offered reaches Rp3,600 per share, with a maximum transaction value of approximately Rp858.39 billion.
Funds for the action come from ASII’s internal cash.
Currently, ASII already owns approximately 3.86 billion AUTO shares, equivalent to 80% of the issued and paid-up capital. If all shares in the tender object are successfully acquired, ASII’s ownership will increase to a maximum of 4.09 billion shares or approximately 84.94%.
Under this scenario, AUTO’s public share portion will be approximately 15.05%.
Today’s Stock Recommendations from Mega Capital Sekuritas:
ESSA - Buy 640-650 | TP 660-675 | SL 605
IATA - Buy 123-126 | TP 128-131 | SL 116
ELSA - Buy 710-720 | TP 730-740 | SL 675
JSMR - Buy 2930-2960 | TP 3000-3030 | SL 2800
COCO - Buy 104-106 | TP 108-110 | SL 98