Ion Exchange shares gained nearly 13% today after the water treatment & environment solutions firm said it won an order worth Rs 726.13 crore from state-owned firm Indian Corp. The stock price rose 12.84% to Rs 3040.95 compared to the previous close of Rs 2,694.85 on BSE.
Share price of Ion Exchange has gained 12% in the last four days. The small cap stock opened 3.68% higher at Rs 1,000 on BSE.
Check share price live: Ion Exchange
Ion Exchange stock has gained 38% during the last one year and risen 2.1% since the beginning of this year. Total 5, 652 shares changed hands amounting to a turnover of Rs 1.58 crore on BSE.
Market cap of the firm rose to Rs 4,111 crore. ION Exchange stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The firm in a communication to BSE said, “We wish to inform you that the Company has received a Letter of award from Indian Oil Corporation Limited (IOCL), for the work of Water Treatment Plant including Reverse Osmosis, Demineralization Plant, Condensate Polishing Unit, Zero Liquid Discharge Plant and Operation and Maintenance for two years and Annual Maintenance Charges for five years for their Panipat refinery capacity expansion project (P-25) at Panipat, Haryana, India at a contract value of Rs 726.13 crore plus GST. The project is to be commissioned within 24 months from the date of Letter of Acceptance.”
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