Jakarta—Shares of PT Barito Renewables Energy Tbk (BREN) strengthened significantly on Wednesday, August 28, contributing to the Indonesia Composite Index (IDX Composite), again setting a new record high amid increasingly optimistic market players.
At the end of today’s trading, BREN shares were parked at 10,200, or 4.08% higher. The shares of the Prajogo Pangestu conglomerate group’s renewable energy issuer became the biggest support for the IDX Composite, reaching 18 index points.
Today, the IDX Composite closed at 0.8% higher, at 7,658.87.
With today’s gain, BREN shares have appreciated by 36.45% since the beginning of the year. It has also confirmed itself as the issuer with the largest market capitalization on the Indonesia Stock Exchange, with a value of IDR 1,364 trillion.
Today’s trading also marks the return of BREN shares to above 10,000, the highest level of Barito Renewables Energy shares today being 10,350.
The 10,350 level is the highest level of BREN shares since July 11, 2024. Since then, they have traded below the 10,000 level.
Two positive sentiments in the last few days supported the strengthening of BREN’s share price.
First, the FTSE Global Equity Series announced a change in constituents by including BREN shares into large market capitalization stocks in calculating the global FTSE index and PT Bank Syariah Indonesia Tbk (BRIS). The change will be effective on September 22.
Secondly, the management of Barito Renewables Energy yesterday announced that it has entered into a collaboration with ACEN Indonesia Investment Holdings Pte Ltd to accelerate the development of renewable wind energy projects throughout Indonesia. (hs)
