Stock of this water treatment firm hits record high; market cap tops Rs 5,700 crore

ION Exchange shares hit a fresh all-time high amid a rally in the broader market today. The stock of the water treatment firm gained 7.57% to Rs 3894 against the previous close of Rs 3619.90 on BSE. The stock has risen 19% in the five sessions. Later, it closed 7.46% higher at Rs 3890. ION Exchange stock has gained 126.23% during the last one year and risen 42% since the beginning of this year. Total 5908 shares changed hands amounting to a turnover of Rs 2.24 crore on BSE. Market cap of the firm rose to Rs 5705.33 crore. 

In terms of technicals, the relative strength index (RSI) of the ION Exchange stock stands at 66.3, signaling it's trading neither in the overbought zone nor in the oversold zone. ION Exchange stock shares have a beta of 0.9, indicating low volatility in a year. ION Exchange stock stands higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.  

 The firm reported a 32% rise in sales to Rs 512.12 crore in the  December 2022 quarter against Rs  388.20 crore  in the December 2021 quarter. Net profit zoomed 69.13% to Rs 48.05 crore in Q3 against Rs 28.41 crore in the December 2021 quarter. EBITDA rose 46.10% to Rs 62.40 crore in Q3 of the last fiscal against Rs 42.71 crore in the December quarter of 2021.  

 In mid-April this year, the board of Ion Exchange cleared stock split in the ratio of 1:10.  

The sub-division of one equity share of the company with a face value of Rs 10 each will be split into 10 equity shares of face value of Re 1 each. 

Ion Exchange (India) is engaged into waste water treatment & environment solutions and caters to various industries, institutions, homes & communities. Headquartered in Mumbai, the company has seven manufacturing & assembly facilities across India, and one each in Bangladesh, UAE, Bahrain and Indonesia. It also has presence across other key geographies.  

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