Shares of the Mumbai-based water therapy and surroundings options supplier – Ion Exchnage – rose as a lot as 18 per cent to hit file excessive of Rs 2,395 on the BSE after the corporate knowledgeable exchanges that it has obtained two orders for provide of consuming water in Uttar Pradesh. The tasks are anticipated to be valued at Rs 1,000 crore.
“The Company has received Letter of Award and Contract from State Water Supply and Sanitation Mission, Namami Gange and Rural Water Supply Department under Jal Jeevan Mission for two EPC projects, for survey, design, preparation of Detailed Project Report (DPR), supply, construction and commissioning of water treatment plant and O&M for 10 years for rural drinking water supply to 1000 villages in two districts of Uttar Pradesh i.e. Varanasi and Aligarh,” Ion Exchange stated in a inventory change submitting.
In a separate improvement, Ion Exchange reported internet revenue of Rs 62.8 crore and working revenue got here in at Rs 433 crore, Inon Exchange stated in an investor presentation.
“The company witnessed steady sequential improvement in the financial performance. Besides dampening the economic recovery, the resurgence of second wave of Covid-19 at the end of the quarter has posed challenges for execution including disruptions in logistics for material movement. There has been an improved opportunity flow from the international markets,” Ion Exchange added.
Ion Exchange (India) Ltd (Ion Exchange), fashioned in 1964, is a pioneer in water, waste water therapy & surroundings options and caters to numerous industries, establishments, houses & communities.
As of three:15 pm, Ion Exchange shares traded 7.31 per cent at Rs 2,185, outperforming the Sensex which was down 0.68 per cent.