Day: August 28, 2024

Shares of Adaro Energy (ADRO) have gained more than 40% in the past six months to trade at Rp3,520 on Tuesday (Aug 27), but the company was still valued less than equity and traded with PE multiple 4.5 on annualised earnings in the first half.

Shares of state nickel firm Vale Indonesia (INCO) faces a 1.05% loss to Rp3,770 to make market capitalization of Rp39.73 trillion. Vale, an established nickel player in Indonesia, is valued smaller that Harita Nickel (Rp59.31 trillion) and new player Merdeka Battery Materials/MBMA (Rp58.31 trillion).