JAKARTA. The stock prices of three former members of the LQ45 members have been significantly dropping since the Indonesia Stock Exchange (IDX) carried out a revision on July 25.
The three issuers are PT Adhi Karya Tbk (ADHI), PT Elnusa Tbk (ELSA), and PT Waskita Beton Precast (WSBP), which have since been replaced by PT Bank Tabungan Pensiunan Nasional Syariah Tbk (BTPS), PT Ciputra Development Tbk (CTRA), and PT Japfa Comfeed Indonesia Tbk (JPFA) in the index.
Based on data compiled by IDNFinancials.com, ADHI's stock price plunged 9.94% to Rp 1,405 per share as of 15:00 Western Indonesian time on Tuesday (6/8). A day prior to the announcement of the LQ45 index from August 2019 to January 2020, ADHI's stock price was closed at Rp 1,560 per share.
Similarly, ELSA's stock price plummeted 10.75% to Rp 334 per share at around the same time. On July 24, ELSA's stock price was closed at Rp 374 per share.
Meanwhile, WSBP's stock price suffered the deepest fall at 12% to Rp 352 per share in the same period. Prior to being excluded from the LQ45 index, the concrete issuer's stock price was closed at Rp 400 per share. (KR/MS)