Shares of multibagger Ion Exchange (India) Ltd have rallied over 730% in the last three years. The stock of the water treatment firm, which closed at Rs 65.97 on July 24, 2020 ended at Rs 549.55 on July 24, 2023 on BSE. An amount of Rs 1 lakh invested in the Ion Exchange stock three years ago would have turned into Rs 8.33 lakh today. In comparison, Sensex has risen 74.95 per cent during the period.
Ion Exchange stock opened higher at Rs 603 in the previous session on BSE. It fell 11% intraday to Rs 535.80 in the previous sesion. Later, the stock closed 8.71% lower on BSE. The stock hit a 52-week low of Rs 150.07 on July 29, 2022 and a 52 week high of Rs 609.20 on July 25, 2023. .
Total 0.75 lakh shares of the firm changed hands amounting to a turnover of Rs 4.30 crore in Wednesday’s session. Market cap of the firm fell to Rs 8060 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Ion Exchange stands at 67, signaling it's trading neither in the overbought nor in the oversold zone. Ion Exchange stock has a one-year beta of 0.9, indicating low volatility during the period. Ion Exchange shares are trading higher than the 10 day, 20 day, 50 day, 100 day and 200 day but lower than the 5-day moving averages.
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In the June 2023 quarter, the firm reported a 18.73 per cent rise in its net profit at Rs 33.27 crore. The firm had reported Rs 28.02 crore net profit in the April-June period of the preceding 2022-23 fiscal. In the March 2023 quarter, profit stood at Rs 81.68 crore.
Total income rose 22.81% to Rs 487.88 crore in the June quarter from Rs 397.28 crore in the year-ago quarter. In the March 2023 quarter, sales stood at Rs 652.97 crore.
EPS grew to Rs 2.806 in Q1 against Rs 2.364 in Q1 of the previous fiscal, rising 18.70% during the period.
On July 26 during the earnings announcement, the Board of Directors considered and approved the appointment of Sanjay Joshi as an additional director in the capacity of Independent Director of the Company for a period of 5 years subject to the approval of Members of the Company.
Ion Exchange (India) Limited is engaged in manufacturing resins, specialty chemicals for water and waste water treatment as well as non-water applications. The company provides a range of solutions across the water cycle from pre-treatment to process water treatment, waste water treatment, recycle, zero liquid discharge, sewage treatment, packaged drinking water, and sea water desalination.