Stock In Focus: Mukul Agarwal Stock ION Exchange To Turn Ex-Split On Monday

Ion Exchange (India) is a mid cap company that recorded a market cap of Rs 6,345.31 Cr during Friday's closing session. One of the top providers of water and sustainability management solutions in India is ION Exchange. Ion Exchange has been a leader in water treatment in India for more than 50 years, and today it is a world-renowned leader in water and environmental sustainability. On Friday's closing session the stock ended at an upside gap of 7% but the stock is likely to remain in focus today as it is going to trade ex-split for 1:10 ratio.

The Board of Directors of ION Exchange have fixed the record date as Monday, 12th June, 2023 for the purpose of sub-division/split of the face value of the equity shares of the company from existing Rs.10 per equity share to Re.1 per equity share or in a 1:10 ratio.

The company's net profit declined 2.42% year-on-year to Rs 81.19 crore in the quarter ended March 2023. Revenue was up 30.45% at Rs 647.48 crore and Ebitda was up 11.97% at Rs 106.37 crore in Q4FY23.

On Friday, the shares of Ion Exchange (India) closed on the NSE at Rs 4,343 apiece, up by 6.93% from the previous close of Rs 4,061.50. The stock touched a 52-week-high of Rs 4,352.95 on (09-Jun-2023) and a 52-week-low of Rs 1,671.65 on (10-Aug-2022).

As per the shareholding pattern of Ion Exchange for January to March 2023 quarter, ace investor Mukul Mahavir Agrawal held fully paid up equity shares of 2,80,044 or amounting to 1.91% stake in the company.

Among other stocks in focus today on 12th June, Monday, Reliance Industrial Infrastructure, Apcotex Industries, Tata Investment Corporation, Indian Bank, ICICI Lombard and Cyient are the 6 stocks that are going to turn ex-dividend today and are likely to witness a price action during the trading session.