Here's why Rhi Magnesita India share price rose 5% in trade on Jan 14

Rhi Magnesita India has informed the exchanges that its Board of Directors has approved the appointment of Alvaro Martin Rivero as an additional director of the company

Shares of the refractory products, systems, and solutions provider Rhi Magnesita India were ruling higher on the bourses on Wednesday after the company announced an update regarding the appointment of an additional director for the company. Following the news, the company's share price rose 5 per cent to log an intraday high of ₹469.4 per share on the BSE during early intraday trade on Wednesday.

 

The counter, though, has pared the gains partially, but it continued to see buyer demand on Wednesday. At 01:09 PM, Rhi Magnesita India shares were seen exchanging hands at ₹464.50 per share, higher by 3.91 per cent from its previous close of ₹447.00 per share. The benchmark BSE Sensex, meanwhile, was trading at 83,647, higher by 20 points or 0.02 per cent.

 

 

A combined total of 0.15 million equity shares of Rhi Magnesita India, estimated to be worth ₹7 crore, have exchanged hands on the NSE and BSE so far today. The company’s market cap stood at ₹9,591.99 crore as of January 14, 2026.

 

The company’s shares have a 52-week range of ₹547.65 - ₹376.75 on the BSE.

Rhi Magnesita India appoints additional director

Rhi Magnesita India has informed the exchanges that its Board of Directors has approved the appointment of Alvaro Martin Rivero as an additional director (non-independent & non-executive) of the company with effect from 14 January 2026, subject to the approval of the shareholders.

 

The company has informed that Alvaro Martin Rivero is not debarred from holding the office of Director by virtue of any order passed by the Securities and Exchange Board of India (Sebi) or any other such authority.

 

According to the exchange filing, the Board of Directors of Rhi Magnesita India has revised the constitution of its committees. The Nomination & Remuneration Committee will now be chaired by Nazim Sheikh, with Kamal Sarda and Gustavo Lucio Goncalves Franco serving as members. The Risk Management Committee will also be led by Nazim Sheikh, with Kamal Sarda and Parmod Sagar as members. 

 

In addition, the Corporate Social Responsibility Committee will be headed by Sonu Chadha as Chairperson, with Parmod Sagar and Azim Syed as members. These changes reflect the Board's ongoing commitment to maintaining robust governance and effective oversight across all key areas of the business, according to the regulatory filing submitted by the company.