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    ION Exchange: Take advantage of the short-term pain

    Expect a turnaround in fortunes for ION Exchange in the second half of the current fiscal

    Jitendra Kumar Gupta
    July 07, 2020 / 02:06 PM IST
    ION Exchange: Take advantage of the short-term pain

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Jitendra Kumar Gupta Moneycontrol Research Highlights - Covid-19 impacts March quarter performance - Engineering business most impacted and margins squeezed - Business to stabilise in the second half of the current fiscal year, supported by cash in the books - Stock trades at attractive valuation ION Exchange (CMP: Rs 695 Market Cap:Rs 1020 crore), one of the leading players in the water treatment and pollution and waste management business, has seen its performance getting impacted because of Covid-19, particularly in light of its exposure to industrial clients and segments. This...

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