Top 10 Most Profitable Stocks of 2023: Some Increased by 5,000 Percent

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Adi Ahdiat 18/12/2023 16:10 WIB

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Based on Bloomberg data analysis published by Katadata, the stock with the highest price increase this year is PT Petrindo Jaya Kreasi Tbk (CUAN).

Top 10 Indonesian Stocks with the Highest Price Increases (January 1 - December 14, 2023)

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Top 10 Most Profitable Stocks of 2023: Some Increased by 5,000 Percent

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Top 10 Indonesian Stocks with the Highest Price Increases (January 1 - December 14, 2023)

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From the beginning of the year until December 14, 2023, the Jakarta Composite Index (JCI) strengthened by approximately 4.7% (year-to-date/ytd).

During the same period, a number of stocks on the domestic exchange saw their prices surge by thousands of percent.

Based on an analysis of Bloomberg data published by Katadata, the stock with the highest price increase this year is PT Petrindo Jaya Kreasi Tbk (CUAN).

The share price of this company owned by Prajogo Pangestu skyrocketed by 5,297% (ytd), from its initial public offering price of Rp200 per share (March 8, 2023) to Rp11,875 per share (December 14, 2023).

Here is a complete list of the 10 stocks with the highest percentage price increases in Indonesia from January 1 to December 14, 2023 (ytd) based on Bloomberg data:

1. PT Petrindo Jaya Kreasi Tbk (CUAN): increased by 5,297% (ytd), from the initial public offering price on March 8, 2023
2. PT Darmi Bersaudara Tbk (KAYU): increased by 1,090% (ytd)
3. PT Barito Renewables Energy Tbk (BREN): increased by 830% (ytd), from the initial public offering price on October 9, 2023
4. PT Pantai Indah Kapuk Dua Tbk (PANI): increased by 465% (ytd)
5. PT Wismilak Inti Makmur Tbk (WIIM): increased by 408% (ytd)
6. PT Amman Mineral Internasional Tbk (AMMN): increased by 295% (ytd), from the initial public offering price on July 7, 2023
7. PT Sumber Global Energy Tbk (SGER): increased by 281% (ytd)
8. PT Estika Tata Tiara Tbk (BEEF): increased by 269% (ytd)
9. PT Ulima Nitra Tbk (UNIQ): increased by 266% (ytd)
10. PT Hatten Bali PT Tbk (WINE): increased by 243% (ytd), from the initial public offering price on January 10, 2023

According to Nafan Aji Gusta, Senior Investment Information at Mirae Asset Sekuritas, various factors can influence the surge in stock prices.

Generally, the strongest factor is demand and public participation.

"If there is a demand factor, the stock price movement will usually experience an accumulation phase. Then, if an uptrend or bullish trend occurs, that's when public participation will come in," said Nafan Aji Gusta to Katadata on Monday (December 18, 2023).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."