Today's Stock Recommendations: PTBA, ASII to MYOR Worth Watching
Jakarta, CNBC Indonesia — The Jakarta Composite Index (IHSG) closed down 0.82% at 6,318.50 on Wednesday (20 May). The weakness came amid pressure on stocks in the basic industry sector, while foreign investors continued to post a net sell in the regular market of Rp130.88 billion. Mora Telematika Indonesia (MORA) led gains with a 19.75% rise, followed by Sinarmas Multiartha (SMMA) up 8.49%, and Bank Mandiri (BMRI) up 2.42%. On the downside, the biggest drag came from the petrochemical and energy group, with Barito Pacific (BRPT) down 10.18%, Chandra Asri Pacific (TPIA) down 14.74%, and Barito Renewables Energy (BREN) down 7.62%.
Sectorally, nine of eleven sectors were in the red. The basic industry sector fell 4.67%, while the financial sector posted the strongest gain, up 1.21%. Foreign investors were net buyers across the market at Rp249.17 billion.
From global markets, the Dow Jones index rose 1.31% to 50,009, the S&P 500 gained 1.08% to 7,432, and the Nasdaq added 1.55% to 26,270.
Market participants now await the release of the Federal Open Market Committee (FOMC) minutes and Indonesia’s current account balance for Q1-2026, which is expected to show a deficit of US$4.50 billion, wider than the previous quarter’s minus US$2.54 billion.
Domestic sentiment also stems from government plans to centralise exports of crude palm oil (CPO) and coal through state-owned exporters, a policy viewed as pressuring the commodity sector and IHSG movements.
Indika Energy (INDY) posted a year-on-year net profit rise of 33.88% to US$13.59 million for Q1-2026, compared with US$10.15 million in the same period last year. Revenue rose 0.73% YoY to US$493.21 million.
The company’s performance was supported by a 73.51% YoY increase in investment income to US$5.47 million, as the value of its investment in Nanshan Aluminium International Holdings Ltd rose to US$20.04 million.
On the other hand, total expenses fell 1.57% YoY to US$419.18 million. The reduction in cost of goods sold was mainly due to higher coal inventories of US$15.23 million in Q1-2026, which also weighed on annual COGS. This condition reflects higher production volumes than sales for the period.
In the plantation sector, Cisadane Sawit Raya (CSRA) targets processing a volume of fresh fruit bunches (TBS) at its internal mills of 700,000 tonnes this year, up from last year’s 500,000 tonnes. By Q1-2026, the company had produced 18% of its annual TBS target.
CSRA is also preparing capital expenditure of around Rp100 billion for replanting and landbank expansion. The company aims for revenue growth of 5.87% YoY to Rp2 trillion this year, versus Rp1.89 trillion realized previously.
In corporate news, Bangun Kosambi Sukses (CBDK) plans a buyback of shares with a maximum value of Rp250 billion using internal cash. The company’s cash position in Q1-2026 stood at Rp2.75 trillion.
If the buyback is fully realised, the company’s cash would be around Rp2.50 trillion, while total assets could fall to Rp22.18 trillion and equity to Rp12.22 trillion.
The company noted that the number of shares to be repurchased will continue to follow POJK rules for treasury shares. The buyback will be conducted via Ina Sekuritas Indonesia from 20 May to 19 August 2026.
Recommendations for today from Mega Capital Sekuritas - PTBA - Buy 2770-2820 | TP 2850-2900 | SL 2650
ASII - Buy 5900-5950 | TP 6050-6100 | SL 5700
MYOR - Buy 1845-1865 | TP 1890-1920 | SL 1750
OASA - Buy 416-424 | TP 432-442 | SL 394
KETR - Buy 600-615 | TP 625-645 | SL 565