In early December 2022, we published an article titled ‘Consistently undervalued Indofood’ when the stock (INDF) was traded at Rp6,675 to make a market capitalisation of Rp58.6 trillion. That time, Indofood was only one-third the value of GOTO Gojek Tokopedia. On Tuesday (Nov 5), INDF gained 5.7% to Rp7,875 to make a market cap of Rp69 trillion, but still undervalued. To subscribe please click here
