Reuters: Hot Stocks: STOCKS NEWS INDONESIA-Trading in Inti Bangun Sejahtera suspended

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS INDONESIA-Trading in Inti Bangun Sejahtera suspended Sep 10th 2012, 07:52 Mon Sep 10, 2012 3:52am EDT The Indonesian Stock Exchange suspended trading in the shares of PT Inti Bangun Sejahtera, after the stock made a more than four-fold rise since its trading debut ten days ago. Shares of the tower communication operator, whose initial public offering was priced at 1,000 rupiah, closed at 4,400 rupiah on Friday. "The stock exchange needs to suspend trading of PT Inti Bangun Sejahtera shares on September 10 to cool down the price," the exchange said in a statement on Monday. Inti Bangun Sejahtera, the 14th company to list on the Indonesia Stock Exchange this year, raised 154.25 billion rupiah ($16.12 million), which will be used for business expansion. The broader Jakarta Composite Index was up 0.04 percent at 02.03 p.m. (0703 GMT) ($1 = 9,570 rupiah) 1407 (0707 GMT) (Reporting by Andjarsari Paramaditha in Jakarta) **************************************************************** 13:09 STOCKS NEWS INDONESIA-Macquarie ups Perusahaan Gas target price Macquarie Equity Research raised its target price on shares of PT Perusahaan Gas Negara Tbk to 5,000 rupiah from 4,270 rupiah, highlighting the state-owned utility's improved supply outlook and stronger cash flow. The gas producer is said to have better supply outlook in East Java with the potential for 60-80 million standard cubic feet per day (mmscfd) of new gas supply, Macquarie analyst Adam Worthington said in a note on Monday. Improving flow rates from state-owned utilities peer Pertamina and local unit of oil and gas company ConocoPhillips should lead to 10 percent growth per year in 2013, Worthington added. "The company plans to sell higher margin CNG products of 30 mmscfd in 2013, which are linked to oil prices at $20+ per mmbtu vs 1H12 prices of $6.9 per mmbtu," he said. "This, combined with the recent price increase & higher margin makeup gas, should ensure that PGAS's margins are relatively intact the next couple of years." He kept Perusahaan Gas rating to 'outperform' as investors put a higher premium on defensive assets, with increasing volume and margin visibility. At 12:25 p.m. (0525 GMT) company's shares were steady at 3,850 rupiah, while the broader index was up 0.08 percent. 1230 (0530 GMT) (Reporting by Andjarsari Paramaditha) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions