The counter saw buying after the Securities Appellate Tribunal (SAT) granted a stay on the recovery of the penalty imposed by the Sebi against Anil Jain, promoter of Refex Industries
In the December quarter (Q3FY26), the company posted a consolidated net profit of ₹54.21 crore, as compared to ₹50.04 crore a year ago, up 8.3 per cent year-on-year (Y-o-Y)
Refex Industries shares hit 52-week low in the early trade, however, the stock eased losses and were trading over 9 per cent higher later
The Income Tax Department has conducted search operations at the registered office of the company and certain other locations associated with the Refex Group
Refex Industries share price rose after the company secured an order worth approximately ₹100 crore from a large business conglomerate.
The buying on the counter came after the company's board approved a composite scheme of amalgamation and arrangement to restructure and unlock the potential of its Green Mobility Business