Refex Industries Secures Rs 40.83 Cr Ash Transport Contract

Refex Industries shares surged 1.97% on the BSE today, closing at Rs 302.75, following the announcement of a significant Rs 40.83 crore contract win. The company secured this slab-wise rate contract from a Major Power Producer, a Central Public Sector Enterprise.

This development saw the stock gain 5.85 points from its previous close of Rs 296.90. The positive market reaction underscores investor confidence in the company’s operational expansion.

Major Contract Secured

The contract, valued at Rs 40.83 crore (including GST), involves ash transportation for road projects, including those under NHAI and other Central or State Government Road construction departments. Refex Industries is slated to complete the execution of this contract within the next 12 months.

The scope of work encompasses excavation and loading of pond ash from an ash dyke. This material will then be transported by mechanical means in closed/covered vehicles, ensuring spillage and fugitive-ash controls, to designated chainages of road projects, flyover embankments, and other government-approved construction sites.

Market Performance Snapshot

The stock opened trading at Rs 296.45, hitting an intraday high of Rs 309.15 and a low of Rs 296.45. A total of 17496 shares were traded on the counter during the session.

• Current Trading Price: Rs 302.75
• Daily Change: Up 5.85 points (1.97%)
• Previous Close: Rs 296.90
• 52-Week High: Rs 415.60 (24-Sep-2025)
• 52-Week Low: Rs 188.00 (23-Mar-2026)
• Last Week High: Rs 309.15
• Last Week Low: Rs 290.95

Company Fundamentals

Refex Industries, which specializes in manufacturing and re-filling environmentally acceptable refrigerant gases, currently holds a market capitalization of Rs 4154.32 crore. The company has a face value of Rs 2 per share.

Promoters maintain a significant stake of 56.57% in the company. Institutional holdings stand at 1.31%, with Non-Institutions accounting for the remaining 42.13%.