Market Cap BREN Breaks Through IDR 1.207 Trillion, Overtakes Position of BBCA

May 01, 2024, 07.25 AM | Reporter: Noverius Laoli

ILUSTRASI. A man wearing a protective mask walks near an electronic board displaying the stock market index at the Indonesia Stock Exchange (IDX), as the outbreak of the coronavirus disease (COVID-19) continues, in Jakarta, Indonesia, September 8, 2020. REUTERS/Willy Kurniawan

STOCK MARKET - JAKARTA. JAKARTA. PT Barito Renewables Energy Tbk (BREN), a renewable energy company owned by conglomerate Prajogo Pangestu, maintained its position as the company with the largest market capitalization on the Indonesia Stock Exchange (IDX) on Tuesday (30/4).

According to IDX data, BREN managed to overtake PT Bank Central Asia Tbk (BBCA), owned by the Hartono conglomerate, on Monday (29/4). At that time, BREN's market cap reached IDR 1.207 trillion, while BBCA had a slightly smaller market cap of IDR 1.196 trillion.

This position continued on Tuesday's (30/4) trading. Citing data from RTI Business, BREN's market cap increased to IDR 1.234 trillion at market close, while BBCA's market cap also rose to IDR 1.208 trillion.

However, in the last two days, BREN has remained the company with the largest market capitalization on the IDX, overtaking BBCA.

On Tuesday's trading, BREN shares closed up 2.22% at IDR 9,225 per share. The total trading volume of BREN shares reached 24.47 million with a transaction value of IDR 224.06 billion.

Consequently, the price-earning ratio (PER) of BREN shares reached 675.49 times and the Price to book value (PBV) 164 times.

Meanwhile, BBCA shares closed flat at IDR 9,800 per share on Tuesday (30/4) with a total trading volume of 109.62 million and a transaction value of IDR 1.08 trillion. The PER of BBCA shares was 23.45 times and the PBV 5.32 times.

In the last week, BBCA shares have risen slightly by 0.77%. Meanwhile, BREN shares have surged by 26.37% in the last week.