This study aims to determine (1) the effect of the issuance value of Sharia Bonds (Sukuk) and Rating of Sharia Bond Issuance (Sukuk) partially on Stock Returns on issuers issuing Sharia bonds (Sukuk) on the Indonesia Stock Exchange, (2) Effect of Bond Issuance Value Sharia (Sukuk) and Rating Issuance of Sharia Bonds (Sukuk) simultaneously on Stock Returns on issuers that issue sharia bonds (Sukuk) on the Indonesia Stock Exchange. The research method uses a survey method, with purposive sampling technique, the research sample obtained 15 issuances of Sharia bonds (Sukuk). Data analysis using classical assumption and multiple regression test. The results of the study: (1) The value of issuance of Sharia Bonds (Sukuk) and Rating of Sharia Bond Issuance (Sukuk) partially has no significant positive effect on Stock Returns and (2) Value of Issuance of Sharia Bonds ( Sukuk and Rating of Issuance of Sharia Bonds (Sukuk) simultaneously have no significant effect on Stock Returns.