The stock has given multibagger returns of more than 120 per cent in just 1 year
On June 7, 2023, the shares of Ion Exchange (India) Limited surged by 2.41 per cent to trade at Rs 4197 per share on BSE. In today’s trading session the stock traded at a new 52-week high of Rs 4227.45 per share on BSE. Further, the scrip also witnessed an impressive spurt in volume by 1.33 times.
Ion Exchange (India) is involved in a wide range of water cycle solutions, from pre-treatment to process water treatment, waste water treatment, recycle, zero liquid discharge, sewage treatment, packaged drinking water, sea water desalination and so on.
Financial Highlights for FY23 (consolidated):
- The operating profit stood at Rs 2,550 crore, up 19.60 per cent over FY22.
- PBT stood at Rs 2,578 crore, up 18.85 per cent over FY22.
- Profit After Tax stood at Rs 1,950 crore, up 20.59 per cent over FY22.
- The EPS for FY23 stood at Rs 55.69 from Rs 56.64 in March 2022.
The company has announced stock split in ratio of 1:10. The sub-division of one share of the company with a face value of Rs 10 each will split into 10 equity shares of face value of Re 1 each.
Ace investor, Mukul Agarwal added Ion Exchange (India) Ltd to his portfolio. He bought 76,050 shares at an average price of Rs 741 per share via a block deal.
DSIJ offers a service ‘Multibagger Pick” with recommendations for multi-bagger stocks based on research and analysis to help subscribers make informed investment decisions. If this interests you, then do download the service details pdf here
The stock has witnessed significant buying activity as it has given multibagger returns of more than 120 per cent in just 1 year. Investors must keep an eye on this trending Small-Cap civil construction stock.
 "India reiterates opposition to China’s Belt and Road Initiative at SCO meet | External Affairs Defence Security News")
 "Trade deficit eases to $20.8 bn in Sept amid geopolitical challenges | Economy & Policy News")
