Ion Exchange shares rise after securing Rs 1.68 billion contract
OIL & GAS

Ion Exchange shares rise after securing Rs 1.68 billion contract

Ion Exchange's share price surged by up to 3% on September 9, reaching an intraday high of Rs 685.20 on the BSE. The rise followed the company's announcement that it had secured a work contract worth Rs 1.68 billion from Italy-based Technimont SpA. The contract is part of the Hail & Ghasha Development Project for Abu Dhabi National Oil Company in the UAE, with a completion timeline of 61 weeks from the award date, according to an exchange filing.

In Q1 FY2024-25, Ion Exchange reported a year-on-year revenue increase of 18.67%, totalling Rs 5.79 billion. However, the company saw a 27.5% drop in revenue compared to the previous quarter. Net profit rose by 35.14% year-on-year to Rs 449.6 billion, although it decreased by 38.23% from the previous quarter.

With a market capitalisation of Rs 99.10 billion, Ion Exchange is trading at a price-to-earnings ratio of 46.43 times, with earnings per share at Rs 14.33. At 10:16 AM, its stock was up 1.59%, trading at Rs 433.50, while the BSE Sensex was down by 0.06%.

Ion Exchange is a leader in water treatment solutions, offering a broad range of technologies for water and wastewater management across industries, homes, and communities. Its products include water process systems, wastewater recycling plants, and various chemical treatments. (business standard)

Ion Exchange's share price surged by up to 3% on September 9, reaching an intraday high of Rs 685.20 on the BSE. The rise followed the company's announcement that it had secured a work contract worth Rs 1.68 billion from Italy-based Technimont SpA. The contract is part of the Hail & Ghasha Development Project for Abu Dhabi National Oil Company in the UAE, with a completion timeline of 61 weeks from the award date, according to an exchange filing. In Q1 FY2024-25, Ion Exchange reported a year-on-year revenue increase of 18.67%, totalling Rs 5.79 billion. However, the company saw a 27.5% drop in revenue compared to the previous quarter. Net profit rose by 35.14% year-on-year to Rs 449.6 billion, although it decreased by 38.23% from the previous quarter. With a market capitalisation of Rs 99.10 billion, Ion Exchange is trading at a price-to-earnings ratio of 46.43 times, with earnings per share at Rs 14.33. At 10:16 AM, its stock was up 1.59%, trading at Rs 433.50, while the BSE Sensex was down by 0.06%. Ion Exchange is a leader in water treatment solutions, offering a broad range of technologies for water and wastewater management across industries, homes, and communities. Its products include water process systems, wastewater recycling plants, and various chemical treatments. (business standard)

Next Story
Real Estate

Redevelopment Rush!

Mumbai is on the cusp of an urban transformation, driven by the pressing need to replace ageing, unsafe buildings with modern, high-density developments. The scale and pace of redevelopment across the city is unprecedented – and yet fraught with complexity.Redevelopment has become a defining strategy for urban renewal in Mumbai. One of the most challenging aspects is the displacement it entails – residents are often required to vacate their homes and live in transit accommodations until the new structures are ready. This raises valid concerns: Will the transit housing meet our needs? Will ..

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Achieves Sales Value of Rs 400 Bn

On National MSME Day, Vedanta, India’s leading critical minerals, transition metals, energy and technology conglomerate announced that its non-ferrous metals e-store has achieved a staggering Rs 400 billion in total sales value. Operated under the name of Vedanta Metal Bazaar, it is the world’s largest non-ferrous metals e-store offering more than 1200 stock keeping units (SKUs) across metals such as aluminium, zinc, lead and copper. The platform brings ease-of-doing business for customers on their fingertips by providing a streamlined, digital-first solution that enables businesses to pro..

Next Story
Infrastructure Urban

Syensqo Unveils Orange Grades for Key EV Components

Syensqo, a leader in advanced materials and specialty chemicals, proudly announces the launch of its latest innovation, Amodel® PPA HFFR-4133 Orange (OR).This high-performance flame retardant polypthalamide (PPA), distinguished by its stable and vibrant orange color, aligns with the industry's growing emphasis on safety and visibility for critical electric vehicle components, such as connectors and busbars.In the rapidly evolving e-mobility sector, the use of orange-colored connectors has become a crucial safety standard, offering immediate visual identification of live high-voltage component..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?