Recent Price Movement and Market Context
On 3 December 2025, Ion Exchange (India) recorded its lowest price in the past year at Rs.339.75. This level represents a substantial drop from its 52-week high of Rs.744, indicating a near 54.3% reduction over the period. The stock has declined by approximately 3.18% over the last four trading sessions, continuing a sequence of losses that have weighed on investor sentiment.
In comparison, the broader market index, the Sensex, opened flat but later declined by 240.70 points, or 0.27%, closing at 84,909.94. Despite this dip, the Sensex remains close to its 52-week high of 86,159.02, trading just 1.47% below that peak. The index is currently positioned above its 50-day moving average, which itself is above the 200-day moving average, signalling a generally bullish trend for the market overall.
Ion Exchange (India), however, is trading below all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning suggests sustained downward momentum relative to its recent trading history.
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Performance Overview and Financial Indicators
Over the last year, Ion Exchange (India) has delivered a return of approximately -50.49%, a stark contrast to the Sensex’s positive 5.02% return over the same period. This underperformance extends beyond the one-year horizon, with the stock also lagging behind the BSE500 index over the past three years and the last three months.
Operating profit growth over the past five years has been recorded at an annual rate of 14.51%, which is modest within the context of the sector. The company’s operating cash flow for the most recent fiscal year stands at Rs.32.05 crores, representing the lowest level in recent periods. Profit figures have shown a decline of 2.8% over the past year, further reflecting subdued financial momentum.
Despite these challenges, Ion Exchange (India) exhibits a high return on equity (ROE) of 22.36%, indicating efficient utilisation of shareholder funds. The company maintains a low average debt-to-equity ratio of zero, suggesting a conservative capital structure with minimal reliance on borrowed funds. Additionally, the stock’s price-to-book value ratio is 3.9, which is considered attractive relative to its peers’ historical valuations.
Shareholding and Sector Position
The majority of Ion Exchange (India)’s shares are held by non-institutional investors, which may influence trading dynamics and liquidity. The company operates within the Other Utilities sector, a segment that has experienced mixed performance in recent times. The stock’s performance today was in line with the sector’s overall movement, indicating that sector-specific factors may be contributing to the price action.
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Technical and Market Assessment
The stock’s position below all major moving averages highlights a technical weakness that has persisted over recent weeks. This contrasts with the broader market’s more positive technical indicators, where the Sensex remains above key moving averages, signalling relative strength in the wider market environment.
Ion Exchange (India)’s recent price decline to Rs.339.75 marks a critical support level, representing the lowest point in the last 52 weeks. This level is significant for technical analysts and market participants as it may influence trading behaviour in the near term.
While the stock’s recent performance has been subdued, the company’s financial metrics such as ROE and debt profile provide a nuanced picture of its operational and financial standing. The low debt-to-equity ratio suggests limited financial leverage, which may be a stabilising factor amid market volatility.
Summary of Key Metrics
To summarise, Ion Exchange (India) has experienced a notable decline in its stock price over the past year, culminating in a 52-week low of Rs.339.75. The stock’s return of -50.49% contrasts with the Sensex’s positive performance, and the company’s operating cash flow and profit figures have shown downward trends. However, the firm maintains a strong return on equity and a conservative capital structure, which are important considerations in evaluating its financial health.
Market conditions remain mixed, with the broader index showing resilience while Ion Exchange (India) faces headwinds reflected in its share price and technical indicators. The stock’s current valuation metrics suggest it is trading at a level consistent with its sector peers’ historical valuations.
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