ION exchange gains 6 percent on securing IOCL order

Published On: Tuesday, December 6, 2022 | By:

ION exchange gains 6 percent on securing IOCL order

Shares of Ion Exchange (India) hit a new high of Rs 2,983, up 3 percent on the BSE in Tuesday’s intra-day, surging 8 percent in past two days after the company announced securing a contract worth Rs 343.36 crore from Indian Oil Corporation (IOCL) for designing, engineering, manufacturing, supply, erection, testing, pre-commissioning, commissioning, performance guarantee test run and operation & maintenance for five years of zero liquid discharge plant at the Panipat refinery. In the last four months, the stock price of Ion Exchange has nearly doubled from its 52-week low of ₹1,500.70 on July 29, 2022, while it has surged 59% in the past year, as compared to a 10% rise in the S&P BSE Sensex. The stock has risen 53% in the six-month period, whereas it gained nearly 36% in a month.

Ion Exchange (India) offers a wide range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycling, zero liquid discharge, sewage treatment, packaged drinking water, seawater desalination, etc.

Headquartered in Mumbai, Ion Exchange has seven manufacturing & assembly facilities across India and one each in Bahrain, Bangladesh, UAE and Indonesia. It also has a presence across other key geographies.

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