Hem Securities report on ION Exchange
ION Exchange Ltd Q3 FY22 consolidated revenues came in at ₹388 Cr, up 11.18% YoY and up 2.64% QoQ. Op Profit for Q3FY22 stood at ₹43 Cr, down 2.27% YoY and up 7.5% QoQ. Op margins for Q3FY22 came at 11%, -153bps YoY and -100 bps QoQ. PAT for Q3FY22 stood at ₹28 Cr, down 3.44% YoY and up 3.70% QoQ
Outlook
We initiate a “BUY” rating on the stock and value the stock at 17.0x FY23E earnings to arrive at the target of ₹2526.
More Info
At 17:30 Ion Exchange (India) was quoting at Rs 1,748.25, down Rs 79.80, or 4.37 percent.
It has touched an intraday high of Rs 1,798.45 and an intraday low of Rs 1,731.55.
It was trading with volumes of 5,025 shares, compared to its thirty day average of 11,396 shares, a decrease of -55.90 percent.
In the previous trading session, the share closed up 0.82 percent or Rs 14.90 at Rs 1,828.05.
The share touched its 52-week high Rs 2,947.00 and 52-week low Rs 1,166.25 on 13 July, 2021 and 22 April, 2021, respectively.
Currently, it is trading 40.52 percent below its 52-week high and 50.31 percent above its 52-week low.
Market capitalisation stands at Rs 2,564.10 crore.
For all recommendations report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.