Today's Stock Recommendations: TINS to DEWA

Jakarta, CNBC Indonesia — The Jakarta Composite Index (IHSG) closed up 1.10% at 6,162.04 on Friday (22/5). The index’s gains were driven by surging mining stocks, including Merdeka Copper Gold (MDKA) jumping 24.77%, followed by Emas Antam Indonesia (EMAS) rising 19.67%, and Bumi Resources Minerals (BRMS) up 11.50%. Conversely, the largest declines among large-cap stocks were seen in Telkom Indonesia (TLKM), down 2.67%, Astra International (ASII) falling 3.57%, and Bayan Resources (BYAN) correcting 4.53%. Foreign investors recorded net selling of approximately Rp1.07 trillion in the regular market and Rp309.45 billion across all markets. Sectorally, 10 out of 11 sectors closed in positive territory. The basic industry sector led gains with a 6.85% rise, while the financial sector was the only one to decline, down 0.28%. US stock markets also closed higher. The Dow Jones rose 0.58% to 50,579, the S&P 500 gained 0.37% to 7,473, and the Nasdaq added 0.19% to 26,343. This week, the IHSG is expected to move cautiously as investors await clarity on the implementation of strategic commodity export centralisation policy via PT DSI. Additionally, the market is awaiting the MSCI index rebalancing effective 1 June. This sentiment is reflected in the flat movement of ETF EIDO with a marginal 0.08% gain, while the MSCI Indonesia index fell 0.95%. Meanwhile, FTSE Russell has removed Dian Swastatika Sentosa (DSSA) from the Large Cap index and delisted Daaz Bara Lestari (DAAZ), Hillcon (HILL), and Mulia Industrindo (MLIA) from the Micro Cap index. DSSA was deemed to have overly concentrated ownership with HSC holding 95.76%. DAAZ failed to meet the minimum public float requirement, while HILL and MLIA were removed due to irregular trading activity. These changes are expected to trigger over US$2.86 billion in foreign outflows. Indonesia’s total market capitalisation in FTSE is projected to fall below US$88.15 billion, with constituents reduced from 39 to 35 companies. FTSE Russell stated that the June 2026 quarterly review results may still change until the close of trading on 5 June. The final composition will be confirmed from 8 June and take effect on 22 June 2026. On the corporate front, Singaraja Putra (SINI) plans to conduct a rights issue of 721.5 million shares following shareholder approval at the 26 May extraordinary general meeting. At an issue price of Rp5,000 per share, the company could raise fresh funds to support its acquisition of PT Kemilau Mulia Sakti (KMS), a Petrosea (PTRO) subsidiary. The acquisition transaction is valued at approximately Rp1.73 trillion. Under the binding sale and purchase agreement, SINI will pay Rp1.51 trillion in cash upon transaction completion, with the remaining Rp218.4 billion plus 7.5% annual interest to be paid in instalments from internal cash flow by end-2028. As a note, SINI’s cash and cash equivalents position as of 2025 stood at approximately Rp33.56 billion. Indocement Tunggal Prakarsa (INTP) has set a 2025 cash dividend of Rp468 per share, totalling around Rp1.54 trillion. This represents a dividend payout ratio of 68.35% of net profit. In 2025, INTP’s revenue fell 4.40% year-on-year to Rp17.73 trillion from Rp18.55 trillion. However, attributable net profit rose 12.04% to Rp2.25 trillion from Rp2.01 trillion the previous year. Earnings per share also increased to Rp674.50 from Rp591.49. At Friday’s close, INTP shares were trading at Rp4,900 per share, implying a dividend yield of approximately 9.55%. Valuation metrics show a price-to-book value (PBV) of 0.74 times and a trailing twelve-month price-to-earnings ratio (PER) of 7.64 times. The ex-dividend date is set for 3 June, with dividend payment scheduled for 19 June 2026. Today’s Stock Recommendations from Mega Capital Sekuritas TINS - Buy 3530-3580 | Target Price 3650-3720 | Stop Loss 3380 ADMR - Buy 1460-1480 | Target Price 1500-1520 | Stop Loss 1380 INDY - Buy 2420-2460 | Target Price 2530-2570 | Stop Loss 2300 WIFI - Buy 2080-2120 | Target Price 2160-2200 | Stop Loss 1980 DEWA - Buy 368-378 | Target Price 386-398 | Stop Loss 352