You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Ion Exchange declines after Plutus Wealth reduces stake

Capital Market 

Ion Exchange (India) fell 1.73% to Rs 2,181 after Plutus Wealth Management sold 0.51% stake in the company via bulk deal on Monday, 22 November 2021.

As per the bulk deal data on the BSE, Plutus Wealth Management LLP sold 75,000 shares (0.51% equity) at an average price of Rs 2,220 per share on Monday, 22 November 2021.

As on 30 September 2021, Plutus Wealth Management held 3.41% stake in the company.

Shares of ION Exchange extended their losing run to third consecutive trading session. The stock declined 4.73% in three days from its previous closing high of Rs 2,289.30 posted on 17 November 2021.

Ion Exchange (India) is engaged in water and environment management business. The company offers products, including ion exchange resins, water treatment plants and chemical additives. The firm's segments are engineering, chemicals and consumer products.

On a consolidated basis, the company reported a 2.2% rise in net profit to Rs 27.23 crore on a 3% decline in net sales to Rs 378.19 crore in Q2 FY22 over Q2 FY21.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 23 2021. 10:25 IST