Adu Capital Gain Saham Blue Chip Rajin Dividen Vs Lapis Dua Berfundamental Kuat

Rancak Media – , JAKARTA – Throughout this year, the performance growth of Indonesia’s second-tier stocks, as reflected by the SMC-Liquid index, has significantly outpaced that of prominent blue-chip stocks within the LQ45 index. This striking divergence highlights shifting dynamics in the Indonesian equity market.

Hari Rachmansyah, an Equity Analyst at PT Indo Premier Sekuritas (IPOT), emphasized that both stock indices possess distinct advantages. According to Rachmansyah, SMC-Liquid stocks, which demonstrate solid fundamentals, currently present a more compelling opportunity, especially for investors seeking aggressive growth. Nevertheless, the ultimate investment choice heavily depends on an individual’s risk profile.

“When compared, LQ45 excels in stability, liquidity, and dividend certainty, yet it is less appealing from a growth perspective due to limited capital gain potential. In contrast, SMC-Liquid with strong fundamentals offers superior growth potential and larger profit opportunities, but it carries higher risks associated with volatility and liquidity challenges compared to large-cap stocks,” Rachmansyah explained to Bisnis on Monday, November 24, 2025.

Trading data up to Friday, November 21, 2025, reveals that the LQ45 index recorded a modest year-to-date (YtD) increase of 2.30%. Furthermore, when viewed over the past 12 months, these blue-chip stocks actually experienced a correction of 3.37%. However, in the more recent one-month period, the LQ45 index surged by 6.20%.

Conversely, the SMC-Liquid index demonstrated robust performance, strengthening by 12.42% YtD and achieving a 10.52% gain over the last 12 months. This marked outperformance underscores the potential within the mid-cap segment.

Hari elaborated that the differing performance trajectories of LQ45 and SMC-Liquid this year are primarily influenced by their inherent characteristics. The LQ45 index, predominantly composed of blue-chip stocks, tends to exhibit defensive movements, resulting in limited upside amidst economic slowdowns and global pressures.

On the other hand, Hari explained that the SMC-Liquid index, comprising agile mid-cap issuers, is more dynamic and aggressive in its expansion strategies. Consequently, these stocks are quicker to respond to positive catalysts such as fundamental performance improvements, corporate actions, and sector rotations, driving their accelerated growth.

“As a result, SMC-Liquid’s rise has been more pronounced throughout the year. For the coming year, LQ45 is anticipated to be more stable, with potential for gradual increases driven by projected economic recovery and continued dividend distributions,” he stated.

For investors, Hari recommends a strategy that balances growth opportunities with stability. He suggests that portfolios could be diversified between LQ45 stocks, known for consistent dividend payouts, and fundamentally strong SMC-Liquid stocks, which offer higher growth potential.

In such a diversified portfolio, LQ45 stocks would serve as a pillar of stability, providing regular dividends and exhibiting lower volatility. Meanwhile, SMC-Liquid stocks would act as the growth engine, offering greater potential for capital gains. “This combination ensures the portfolio remains defensive during market downturns while staying aggressive in capturing opportunities when bullish momentum emerges. Through this approach, investors not only pursue profits but also maintain a more measured balance of risk,” Rachmansyah concluded.

Among the LQ45 constituent stocks demonstrating strength and a commitment to dividend distribution are BBCA and AADI.

Management of PT Bank Central Asia Tbk. (BBCA) confirmed early last month that interim dividend distribution has become an annual routine for the company, typically conducted in December. At the end of 2024, BCA distributed an interim dividend with a payout ratio (DPR) reaching approximately 68%, considered high within the banking industry.

From January to September 2025, BBCA recorded a net profit of Rp43.4 trillion, marking a 5.7% year-on-year (YoY) increase compared to Rp41.1 trillion during the same period in 2024.

Bank Central Asia Tbk. – TradingView

On the stock exchange, BBCA shares closed today, Monday (November 24), up 0.89% to Rp8,475. This price level reflects a 12.40% correction YtD but has seen a 1.80% strengthening in the last month.

Another significant LQ45 constituent is PT Adaro Andalan Indonesia Tbk. (AADI), which is set to distribute an interim dividend of US$250 million for the 2025 financial year, equivalent to Rp3.9 trillion (at an exchange rate of Rp15,600 per US dollar).

This interim dividend is derived from the company’s net profit recorded in the first nine months of 2025. By the third quarter of 2025, AADI posted a net profit of US$587.32 million, a 45.35% YoY decrease from US$1.07 billion in the same period of 2024.

At market close today, AADI shares gained 1.31% to Rp7,750. While the current price shows an 8.55% correction YtD, it also reflects a notable 13.5% increase over the past three months.

Meanwhile, among SMC-Liquid constituent stocks, PT Petrosea Tbk. (PTRO) stands out with a significant price surge aligning with its strong fundamental performance. PTRO’s price closed today up 9.78% to Rp9,825. This price level represents an impressive 35.52% gain in the last month and a remarkable 255.66% surge since the beginning of the year.

Fundamentally, the issuer owned by Prajogo Pangestu reported a net profit of US$6.93 million from January to September 2025, equivalent to Rp115.7 billion (at an exchange rate of Rp16,692 per US dollar). This net profit soared by 141.88% compared to US$2.86 million in the same period of 2024, underscoring its robust growth.

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