ION Exchange at new high

Specialists in water and waste water treatment for over four decades, ION Exchange has been on a high for a couple of weeks now; today too, figuring among the top three gainers on the BSE, the stock price rose over 6% to hit a new 52-week high at Rs.3842.05.

The stock has been rising high ever since, two weeks ago, its Board approved stock split in the ratio of 1:10, sub-division of one equity share of the company with a face value of ?10 each will be split into 10 equity shares of face value of Re 1 each.

A stock split increases the number of shares while it does bring down the market price of the individual shares, it does not result in changing the market capitalization of the company.

This news apart, the market is also enthused with its Board’s proposal to invest and takeover a target company namely, MAPRIL -Produtos Quimicos e Maquinas Para a Industria, Lda which is located in Portugal.