Ion Exchange (India) shines on concluding JV Agreement with Safic

Ion Exchange (India) is currently trading at Rs. 120.35, up by 1.25 points or 1.05% from its previous closing of Rs. 119.10 on the BSE.

The scrip opened at Rs. 119.10 and has touched a high and low of Rs. 122.70 and Rs. 119.10 respectively. So far 2,766 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 160.80 on 25-Jul-2011 and a 52 week low of Rs. 84.05 on 21-Dec-2011.

Last one week high and low of the scrip stood at Rs. 123.45 and Rs. 115.20 respectively. The current market cap of the company is Rs. 163.00 crore.

The promoters holding in the company stood at 40.68% while Institutions and Non-Institutions held 1.48% and 57.84% respectively.

Ion Exchange (India) has concluded a Joint Venture (JV) Agreement with Safic (Pty), Accentuate group Company to strengthen its water treatment operations in South Africa (SA). Ion Exchange (India) will hold 60% stake in the JV which is established in Johannesburg under the name and style “Ion Exchange Safic”, while the remaining portion will be held by Safic.

Ion Exchange India is country's premier company in water and environment management, with a strong international presence. The company has provided installations for diverse industries in India and abroad, from nuclear and thermal power, fertilizer and refinery, to automobile, electronics and textile.