Shares of Ion Exchange (India) Ltd. rallied 8%, reaching a day’s high of Rs 709.15 on 19th September, after the company announced it had been awarded contracts valued at approximately Rs 161.19 crore by Adani Power Ltd. yesterday.

The contracts include delivering full-scale water and environment management solutions for two 800 MW units at Adani Power’s ultra-superpower projects in Raipur and Raigarh.

Ion Exchange announced in a stock exchange filing that the contracts, valued at approximately Rs 161.19 crore, cover complete water and environment management solutions for the process and utility needs of the two units at Raipur and Raigarh.

The project scope includes engineering, procurement, and construction (EPC) of water and environment management systems for process and utility needs, with completion expected within 18 months.

In April, Ion Exchange won a Rs 251-crore international contract for a North Africa project involving engineering, manufacturing, delivery, supervision, and commissioning of a desalinated water unit.

The project is expected to be completed within seven months from the date of engineering approval, as informed by the company on 2nd April.

The company’s market capitalisation rose to Rs 10,031 crore.

At 10:45 AM, the shares of the Ion Exchange were trading at 6.24% higher at Rs 687.55 on NSE.

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