This small-cap company wins a work order of Rs 726.13 crore from Indian Oil Corporation!

The stock has risen over 50 per cent in the last 6 months.

On 2nd February 2023 Ion Exchange (India) Limited informed in the exchange filing that it has received a Letter of award from Indian Oil Corporation Limited (IOCL), for the work of a 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 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 the Letter of Acceptance.

Ion Exchange (India) is engaged in a wide range of solutions across the water cycle from pre-treatment to process water treatment, wastewater treatment, recycling, zero liquid discharge, sewage treatment, packaged drinking water, seawater desalination etc.

Today, the stock opened at Rs 3040.95, with a high and low of Rs 3040.95 and Rs 2687.60. The stock closed trading at Rs 2792.00, up by 3.61 per cent.   

 In the last 6 months, the shares of the company have given more than 50 per cent returns and on a YTD basis, the stock has given about -0.30 per cent returns. 

 The stock has a 52-week high of Rs 3055.00 and a 52-week low of Rs 1570.70. The company has a ROCE of 34.4 per cent and an ROE of 26.5 per cent, with a market capitalization of Rs 4119 crore.