This Jhunjhunwala-owned stock tripled investor wealth in just 1 year

Mini

The stock soared a little over 200 percent in the last 1 year from around Rs 670 to Rs 2,036 currently. It has jumped around 130 percent in 2021 till date.

This Jhunjhunwala-owned stock tripled investor wealth in just 1 year
Water treatment firm Ion Exchange (India) has proved to be a stellar investment with the stock tripling in the last 1 year.
The Jhunjhunwala-owned stock soared a little over 200 percent in the last 1 year from around Rs 670 to Rs 2,036 currently. It has jumped around 130 percent in 2021 till date.
Further, it has already rallied 42 percent in the month of June on the back of phenomenal performance in the March quarter.
In Q4, the company's net profit surged around 144 percent to Rs 70.15 crore as against Rs 28.10 crore during the year-ago quarter. Sales also jumped 26.79 percent to Rs 445.15 crore in the quarter under review versus Rs 351.09 crore during the corresponding quarter of the previous fiscal.
Ace investor Rakesh Jhunjhunwala held over 5 percent equity in the firm for six quarters till December 2020. However, he reduced its stake to below 1 percent in the March quarter. Jhunjhunwala booked profit and sold around 1.5 lakh shares for Rs 18.17 crore in the firm in Q4.
Meanwhile, his firm Rare Investments sold another 3.87 lakh shares taking the total value to Rs 46.73 crore. Jhunjhunwala first bought the stock in December 2007 quarter, when he held around 2.5 percent stake in the end of December quarter that year.
Earlier today Franklin Templeton Mutual Fund bought 0.82 percent stake in teh firm via bulk deals, exchange data showed. Franklin Templeton Mutual Fund bought 1,20,000 equity shares at an average price of Rs 1,984.49 per share.
For the full year FY21, its net profit rose 53.77 percent to Rs 143.94 crore as against Rs 93.61 crore during the previous year ended March 2020. Sales, however, fell 2 percent YoY to Rs 1,449.52 crore in FY21.
Meanwhile, the board has recommended a final dividend of Rs 10 per equity share for the FY 2020-21.
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.

Market Movers

CompanyPriceChange%Gain
CompanyPriceChange%Gain
CompanyPriceChange%Gain
CompanyPriceChange%Gain

Currency

CompanyPriceChng%Chng
Dollar-Rupee74.07750.75501.03
Euro-Rupee88.40900.52900.60
Pound-Rupee103.32200.83900.82
Rupee-100 Yen0.67140.00901.36