JAKARTA (Yosefardi) – Second largest cement producer PT Indocement Tunggal Prakarsa (INTP) Tbk has become 10th largest company on Indonesia Stock Exchange (IDX) by market capitalization.
Indocement takes over the position from cigarette giant Gudang Garam (GGRM) and state bank BNI.
Indocement gained 4.5% to Rp22,250 Friday (August 2nd) to make a market capitalization of Rp81.9 trillion, bigger than Gudang Garam and BNI, which are both having market cap of Rp80.2 trillion.
Indocement lost only 0.9% year-to-date, while Gudang Garam plummeted 26%. BNI, meanwhile, gained 16% year-to-date.
Indocement is now below Semen Indonesia, the largest cement producer, with market cap of Rp94.3 trillion and a tiny 0.3% gain year-to-date.