JAKARTA (Yosefardi) – Pulp producer PT Indah Kiat Pulp & Paper (INKP) Tbk gained substantially by 8.18% to Rp1720, its new high in the past 52 weeks.
INKP, controlled by Sinarmas Group, was traded heavily with over 84 million shares exchanged hands, substantially higher than average trading volume in the past three months.
Indah Kiat has gained 145% year-to-date accordingly. Sister company PT Pabrik Kertas Tjiwi Kimia (TKIM) Tbk also gained 2.17% to Rp2350. TKIM, however, is still way below its peak last year (Rp2950).
Other Sinarmas-related stocks, meanwhile, end mixed, with Golden Energy Mines gained 3.75%, while Duta Pertiwi down 3.75%. Bumi Serpong Damai, a giant property developer, ended flat.