ION Exchange Secures International Contract from Hyundai Worth USD 52.83 Million
ION Exchange (India) Limited has secured a significant international contract, winning the business of Hyundai Engineering & Construction Co., Ltd. The agreement involves the supply of filtration units in the Middle East and is valued at USD 52.83 million, which is approximately INR 503 crore based on the prevailing exchange rate.The project with the international entity is scheduled to be executed over a period spanning 18 months.
Details regarding the order and contract have been formalized as follows:
| Aspect | Details |
|---|---|
| Client | Hyundai Engineering & Construction Co., Ltd |
| Contract Value | USD 52.83 million (approximately INR 503 crore) |
| Nature of Contract | Supply of filtration units in the Middle East |
| Execution Period | 18 months |
| Client Type | International Entity |
The contract specifies the supply of filtration units and confirms that there is no involvement of the promoter or promoter group companies in relation to the entity awarding the order. Furthermore, the transaction will not fall within related party dealings.
IONEXCHANG Stock Price Movement
As of 12:26 PM, shares of ION Exchange (India) Limited surge up by 5.17%, currently trading at ₹423 as investors react to positive intraday news. This rally is backed by significant volume, with over 410,103 shares traded so far in the live market session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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