Ion Exchange zooms 33% in 2 days on Rs 1,000 cr orders win; MF stake buy

On Wednesday, June 9, 2021, Franklin Templeton Mutual Fund purchased 120,000 shares in the company, representing 0.82 per cent stake at Rs 1,984.49 on the BSE via bulk deals.

Shares of Ion Exchange (India) rallied 10 per cent in intra-day trade to hit a new high of Rs 2,248.60 on the BSE on Thursday, after the company said it received orders worth Rs 1,000 crore. In past two trading days, the stock has rallied 33 per cent after Franklin Templeton Mutual Fund acquired nearly one per cent stake in the company via open market.

“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,