Jakarta – Most shares of issuers with renewable energy businesses ended in the green zone at the end of trading this week, Friday, October 4. Of the seven renewable energy issuers on the Indonesia Stock Exchange (IDX), four stocks ended in the green zone, while three stocks closed stagnant.
Four stocks ended trading in the positive zone: PT Pertamina Geothermal Energy Tbk (PGEO), which strengthened 2.23% to 1,145, and PT Barito Renewables Energy Tbk (BREN), which strengthened 1.46% to 6,950.
Then, the shares of PT Semacom Integrated Tbk (SEMA) rose 1% to 101, and PT Arkora Hydro Tbk (ARKO) strengthened 0.54% to 935.
Meanwhile, the stocks that closed stagnant today were PT Kencana Energi Lestari Tbk (KEEN), PT Terregra Asia Energy Tbk (TGRA), and PT Maharaksa Biru Energi Tbk (OASA).
BREN shares rebounded Friday after losing 1.79% in Thursday’s trading. However, based on RTI data, BREN shares this week recorded a decline of 3.14%. During the current year, the shares of the Prajogo Pangestu conglomerate issuer are still recorded to have weakened 7.02%.
BREN shares have yet to fully recover from the impact of its exclusion from the FTSE Russell Index list. This decision was made due to the high concentration of share ownership.
At the same time, BREN management emphasised that they have no authority to influence the decision of FTSE Russell, an independent institution. (hs)
