Shares of Refex Industries Ltd skyrocketed 13% on 28 November after the company announced receiving a Rs 100 crore order from a multinational business conglomerate.

In an exchange filing, the company said, “We wish to inform you that Refex Industries Limited, has procured an order for Excavation, Loading and Transportation of pond ash/bottom ash.” 

According to the terms of the order, Refex Industries will be in charge of pond ash/bottom ash extraction, loading, and transportation.

Refex Industries stated in a statement that the order is expected to be executed in four months.
 
Earlier this week, Refex Industries announced that the Ministry of Corporate Affairs had approved the incorporation of Venwind Refex Projects Limited as a wholly-owned subsidiary of Venwind Refex Power Limited on 25 November 2025, resulting in VRPL becoming a step-down subsidiary of Refex Industries. 
 
Refex Industries said earlier this month that it had received an order from a prominent state GENCO to carry pond/fly ash to the NHAI Road Project.

Refex Industries Limited is a diversified Indian company with core operations in environmentally benign refrigerant gases, coal and ash handling for thermal power plants, and power trading. The company, founded in 2002, is part of the larger Refex Group, which also works in renewable energy (solar and wind), medical innovations, and green mobility solutions. 

Refex is well-known for its expertise in refrigerant refilling and its comprehensive ash and coal control services for power companies.

At 12:37 pm, the shares of Refex Industries were trading 9.02% higher at Rs 349.30 on NSE.

Tired of guessing stocks to trade in daily?
Unicorn Signals empowers you with powerful tools like daily stock scans for Intraday, Swing & Investing, Market Predictions and much more. Download the Unicorn Signals app today and take control of your investments!