Refex Industries Jumps 3% After It Bags ₹32.45 Cr Order from Maharatna PSU for Pond Ash Logistics

Synopsis: Refex Industries has secured a new contract worth Rs. 32.45 crore from a Maharatna PSU for transporting pond ash. This move strengthens the company’s role as an important logistics partner for NHAI and PWD infrastructure projects.

Shares of Refex Industries attracted attention on Monday after the company announced a significant new domestic order. In a filing with the BSE and NSE, the Chennai-based company revealed it has secured a contract valued at approximately Rs. 32.45 crore (including GST) for the transportation of pond ash.

An undisclosed Maharatna Public Sector Undertaking (PSU) awarded the order. According to the agreement, Refex will manage the logistics of moving pond ash to various National Highways Authority of India (NHAI) and PWD road construction sites. 

The contract is set for an initial period of one year, with the option to extend by up to six months. The company confirmed that this is a domestic contract and involves no related party transactions or promoter interest, ensuring it’s a standard business deal.

Shares of Refex Industries Limited climbed to an intraday high of Rs. 256.95 during Monday’s trading session. This surge follows the company’s announcement of securing a Rs. 32.45 crore order from a Maharatna PSU, contributing to the stock’s strong 3.36% gain by midday.

The stock has demonstrated powerful short-term momentum, gaining over 26% in the last month. Despite being down from its 52-week high of Rs. 534, today’s move is supported by significant volume, with 7.67 lakh shares traded and a high delivery percentage of 51.39%, signaling strong investor conviction in the company’s infrastructure logistics pivot.

Company Overview

Refex Industries is a diversified firm that has shifted from refrigerant gases to specializing in industrial logistics and sustainable infrastructure. Its main business involves the critical handling and disposal of fly ash for power plants, which generates nearly all its revenue. The company also works in green mobility through electric vehicle fleets and renewable energy projects like solar and wind, focusing on services that comply with ESG standards for major PSUs and national infrastructure.

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