Bakrie Group Stocks: A Buying Opportunity After Recent Surge?

BAKRIE GROUP STOCKS - JAKARTA. The recent surge in the stock prices of several Bakrie Group-affiliated companies has caught the attention of investors. While not considered blue-chip stocks, some of these stocks may be worth considering after their recent gains.

Blue-chip stocks are the top-tier stocks on the stock exchange that have been listed for a long time and have strong fundamentals and large market capitalization. Several Bakrie Group stocks have been listed on the Indonesia Stock Exchange (IDX) for a long time.

However, so far, no Bakrie Group stock has been classified as a blue chip. Nevertheless, investors should pay attention to some Bakrie Group stocks that have recently risen sharply.

Among the Bakrie Group stocks with high price increases are PT VKTR Teknologi Mobilitas Tbk (VKTR) and PT Ancora Logistics Indonesia Tbk (ALII).

VKTR has been on a roll with four consecutive days of gains. The stock price of this company, which is engaged in the trading of electric vehicles and components, jumped 17.33% to Rp 176 per share on Thursday (22/2).

The youngest member of the Bakrie Group, ALII, has also been on a strong run with five consecutive days of gains. The stock price of this marine transportation and intermediate stockpile company rose 9.40% to Rp 815 per share.

Compared to its initial public offering (IPO) price, ALII's current price has already jumped 199.63%. Less than a month old, ALII just listed on the IDX on February 7, 2024.

Other Bakrie Group-affiliated stocks also rose on Thursday (22/2). For example, PT Bumi Resources Tbk (BUMI) rose 3.49% to Rp 89 per share. PT Energi Mega Persada Tbk (ENRG) rose 5.58% to Rp 208 per share.

PT Darma Henwa Tbk (DEWA) jumped 7.14% to Rp 60 per share. Meanwhile, PT Bumi Resources Minerals Tbk (BRMS) only rose slightly by 0.69% to Rp 145 per share. Despite the increase, PT Bakrie Sumatera Plantations Tbk (UNSP) closed flat at the same price as the previous day's close.

The rise in several Bakrie Group stocks also helped to wake up PT Bakrie & Brothers Tbk (BNBR), which had been stuck at the gocap level. BNBR sempat berayun di harga Rp 51 - Rp 52, meski ditutup kembali pada harga Rp 50 per saham.

However, the current momentum has not been able to wake up all Bakrie Group-affiliated stocks. This is because there are still many stocks that are sleeping as gocap stocks, namely stocks that are caught in the IDX's special notation.

They are PT Bakrie Telecom Tbk (BTEL), PT Visi Media Asia Tbk (VIVA), PT Intermedia Capital Tbk (MDIA), PT Bakrieland Development Tbk (ELTY) and PT Graha Andrasentra Propetindo Tbk (JGLE).

MNC Sekuritas analyst Herditya Wicaksana technically observed seven stocks affiliated with the Bakrie Group. Herditya recommends trading buy for VKTR stock with support at Rp 164 and resistance at Rp 185.

Herditya also recommends trading buy for ALII (support Rp 690 and resistance Rp 865), BUMI (support Rp 85 and resistance Rp 91) and UNSP (support Rp 105 and resistance Rp 110).

Other recommendations are speculative buy for DEWA stock (support Rp 55 and resistance Rp 61) and buy if break for ENRG with support Rp 199 and resistance Rp 212. Then, wait and see for BRMS stock.

Capital market observer and founder of WH-Project William Hartanto analyzed that the driver of VKTR's stock also came from the partnership with PT Indomobil Sukses Internasional Tbk (IMAS).

Through its subsidiary, the Salim Group-affiliated company is working with VKTR to increase innovation and accelerate the adoption of EVs and electrification in the commercial vehicle segment.

"(Bakrie's) position as a supporter of Prabowo-Gibran is only a temporary sentiment. However, for VKTR, the sentiment of the partnership with IMAS allows for further strengthening," said William.

William sees the current short-term strengthening momentum as an opportunity for trading. Market participants can look at VKTR, ALII, DEWA,