Ion Exchange (India) gained 1.14 percent to Rs 2535 after the Indian Oil Corporation (IOC) granted the firm a Rs 357.465 crore engineering, procurement, construction, and commissioning (EPCC) contract.
The scope of the work includes the design and implementation of an effluent treatment plant on a turnkey basis for IOC’s para xylene (PX) and purified terephthalic acid (PTA) complex project in Paradip, Orissa. PTA is a key raw material used in the production of polyester fibres, PET bottles, and polyester film for packaging purposes. The project must be built and commissioned within 26 months following the letter of approval (LoA).
Ion Exchange (India) is in the business of water and environmental management. The firm sells ion exchange resins, water treatment facilities, and chemical additives. Engineering, chemicals, and consumer items are the company’s segments.
In Q4 March 2021, the company’s consolidated net profit increased 144.2 percent to Rs 70.48 crore on a 26.8 percent increase in net sales to Rs 445.15 crore compared to Q4 March 2020.
Year to date (YTD), the stock has increased by 177.48 percent, while the benchmark Sensex has increased by 13.69 percent.
