Ion Exchange manufactures and distributes water treatment equipment and products used for treatment and conservation applications. The company's products include water treatment chemicals, exchange resins, ultrafiltration and nano-filtration membranes.
Promoters held a 27% stake in the company as of the December 2022 quarter, while FIIs owned 0.77% and DIIs 11.47%, according to the shareholding data available with the exchanges. The company has a market capitalisation of about Rs 5,004 crore.
The company's shares have nearly doubled investors' wealth in the last year, rising 100%. In the last six months, the stock has risen 62.83%. So far this year, the shares have surged about 22% on a year-to-date basis.
According to Trendlyne, Ion Exchange has an average target price of Rs 2,610.98, and the consensus estimate represents a downside of -23.52% from the current levels.
Brokerage HDFC Sec (https://m.economictimes.com/housing-development-finance-corporation-ltd/stocks/companyid-13640.cms)urities has a buy call on Ion Exchange with a target price of Rs 4,020. The time period given by the analyst is 2-3 quarters.
For the December quarter, the company reported a consolidated income of Rs 524 crore, up 33% year-on-year. Meanwhile, the net profit after tax (PAT) stood at Rs 47.45 crore in the latest quarter.
