ION Exchange Share Price Soars Amidst Construction Company’s Big Order
Amidst the ups and downs in the stock market, civil construction company ION Exchange saw a surge in its share price. The company’s share price on the BSE rose by 3.57% during trading, reaching a high of ₹465.25. The reason behind this increase in the share price is a significant order received by the company. ION Exchange informed the stock market that it has received an order worth ₹120 crore from Medina, Saudi Arabia.
ION Exchange’s shares have given investors a return of over 150% in the past 2 years. According to information available on the BSE website, the construction company has been awarded an order worth ₹120 crore from Medina, Saudi Arabia. The order requires the construction company to set up a demineralization plant with a water treatment plant for the largest mining company in Medina. The total value of this project is ₹120 crore, and it is expected to be completed within a year of receiving the EPC.
On Thursday (14th March, 2024), the share was trading at ₹445, down by 0.30%. Established in 1964, the company operates in B2B solutions. The 52-week high and low of ION Exchange shares are ₹687.55 and ₹303.20, respectively. The company had split the share last year in June. A dividend of ₹1.25 was declared on August 30, 2023. ION Exchange has a market capitalization of ₹6,746.66 crore, with a 42% increase in the share price over the past year. The share is up by 150% in two years. On March 12th, the stock closed at ₹458.10, up by 1.98%.
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