Refex Industries shares zoom near 14% on new Rs 100-crore ash handling order

Shares of Refex Industries Ltd surged 13.50 per cent in Friday's trade to hit a high of Rs 363.60 after the company secured a fresh order for the excavation, loading and transportation of pond ash and bottom ash.

The contract, placed by a domestic entity, is valued at around Rs 100 crore and is to be executed within a period of four months.

The development comes as the company undergoes a restructuring exercise, under which its Green Mobility Business will be demerged into a separate listed entity, Refex Mobility Ltd. As of October 3, 2025, promoters held a 55.92 per cent stake in Refex Industries.

Technically, the scrip traded higher than the 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but lower than the 100-day, 150-day and 200-day SMAs. Its 14-day relative strength index (RSI) came at 56.36. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The scrip has a standalone/consolidated price-to-earnings (P/E) ratio of 24.52/24.36 against a price-to-book (P/B) value of 7.80. Earnings per share (EPS) stood at 14.70/14.79 with a return on equity (RoE) of 31.81. According to Trendlyne data, Refex Industries has a one-year beta of 1.1, indicating high volatility.

The counter today logged heavy trading volume along with the price action as around 18.08 lakh shares were last seen changing hands on BSE, way more than the two-week average volume of 14,000 shares. Turnover on the counter stood at Rs 64.66 crore, commanding a market capitalisation (m-cap) of Rs 4,929.54 crore.