Indonesian Stock Movers: Adaro Energy, Bank Rakyat, Berau Coal

Shares of the following companies had unusual moves in Indonesian trading. Stock symbols are in parentheses and prices are as of the close in Jakarta.

The Jakarta Composite Index (JCI) rose 0.3 percent to 4,090.57. The gauge has risen 7 percent this quarter.

PT Adaro Energy (ADRO) , Indonesia’s second-largest coal producer, rose 2.1 percent to 1,930 rupiah, the steepest gain since March 2. The company said its 2011 net income more than doubled to $550 million, from $247 million a year earlier, beating the mean estimate of $506.5 million in a Bloomberg News survey of 29 analysts.

PT Bank Rakyat Indonesia (BBRI) , the nation’s second- largest bank by market value, rose 1.5 percent to 6,900 rupiah. Bank Rakyat has allocated 1 trillion rupiah ($109 million) to buy a brokerage in the third quarter of this year, President Director Sofyan Basir said.

PT Berau Coal Energy (BRAU) , a coal producer, jumped 7.8 percent to 550 rupiah, the highest close since Aug. 18. The company’s 2011 net income surged to $133.9 million, from $49.7 million a year earlier, it said in a statement yesterday.

To contact the reporter on this story: Berni Moestafa in Jakarta at bmoestafa@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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