New record for Astra
The stock price of Astra International (ASSI) reached its new record high this morning at Rp38900 to make it a US$17 billion (Rp157.5 trillion) company. Astra gained 5% this morning.
Astra is just inches away from becoming the largest company on IDX. Astra is only US$1.4 billion away from taking over the position from Telekomunikasi Indonesia (TLKM). TLKM currently has market cap of Rp170 trillion and already lost 10.6% this year, while Astra gained 12%.
Two of Astra subsidiaries, PT United Tractors (UNTR) Tbk and PT Astra Agro Lestari (AALI) Tbk are also listed in the Top 20. UNTR is currently ranked 10th with market cap of Rp56.04 trillion, while AALI ranked 17th with market cap of Rp37.7 trillion. UNTR is now bigger than Bumi Resources (Rp47 trillion) and just inches away from No.8 Adaro Energy (Rp59.5 trillion). The top 7 will unlikely change in the coming weeks, because No. 7 Unilever currently has market cap of Rp88.9 trillion, quite substantial gap with Adaro.