shares closed at ₹391.85 on Tuesday, gaining ₹9.65 or 2.52 per cent from the previous close of ₹382.20. The stock touched an intraday high of ₹416.50 before settling lower, with traded volumes reaching 92.17 lakh shares worth ₹374.58 crore.
The rally followed the company’s disclosure on December 15 that it secured contracts worth approximately ₹205 crore from two solar sector clients.
Rayzon Energy Private Limited awarded a ₹95 crore contract for an Ultra-Pure Water system, effluent treatment plant (ETP), and zero liquid discharge (ZLD) facility for their 5.1 GW photovoltaic solar project at Kathwada Village, Surat in Gujarat.
INOX Solar Limited separately awarded a ₹110 crore contract for ultrapure water generation, wastewater treatment, and zero liquid discharge systems for a solar cell facility in Odisha.
Both contracts are scheduled for completion within 9-10 months from the project award date. The orders involve engineering, procurement, and construction of water treatment systems critical for solar manufacturing processes.
Despite Tuesday’s gains, Ion Exchange shares remain under pressure year-to-date, down 40.12 per cent. The stock is trading significantly below its 52-week high of ₹738.50 recorded in December 2024, though above the recent 52-week low of ₹330.95 hit on December 9. The company has a total market capitalization of ₹5,747.13 crore.