India's Ion Exchange rises after buying Portugal-based co for $2.9 mln

Ion Exchange (India)

20/04/2023 10:22

** Shares of water treatment solutions firm Ion Exchange
(India) Ltd  IONX.NS  rise as much as 4.3% to 3,509.30 rupees,
highest since Apr. 5
    ** Co to buy Portugal-based water and chemical treatment
firm MAPRIL - Produtos Químicos e Maquinas Para a Industria, Lda
for about 2.66 mln euros ($2.92 mln)
    ** Acquisition "will give co strong footing in European
market" - IONX
    ** IONX also approves share split in 1:10 ratio
    ** Shares were mostly flat before the two disclosures
    ** Around 83,000 shares traded by 02:35 p.m. IST, marking
their most active trading session since Feb. 28
    ** At current levels, stock, which listed in February last
year, up 24.8% so far this year


($1 = 0.9114 euros)

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))