Refex Industries shares jumped over 8% in the morning trade on Monday after the company clarified the quantity covered under a recently secured Rs 160 crore contract for lifting pond ash and fly ash.
The stock rose to Rs 294.55 on the NSE after opening at Rs 281.95 apiece, up from its previous close of Rs 271.85, gaining around 8%.
Around 9:40 am, the stock was trading at Rs 282.40, up around 4% from its previous close.
The sharp move came after the company corrected the quantity mentioned in its Sept. 19 disclosure. Refex Industries said the contract involves lifting 10 lakh metric tonnes of pond ash and fly ash, instead of the 10 metric tonnes stated in the earlier filing. The company said the error was purely typographical and that there was no change in the contract's value, scope, execution period or other terms.
Refex Industries Rs 160 Crore Contract
The contract has been awarded by a public sector undertaking in Madhya Pradesh and covers the lifting of 10 lakh metric tonnes of pond ash and fly ash under the Road-cum-Rail mode. The quantity can be extended with mutual consent.
The broad consideration of the contract is around Rs 160 crore. The order is a domestic contract and is scheduled to be executed over 18 months, with the execution period also extendable through mutual consent.
What Refex Industries Said
Refex Industries had initially disclosed the contract on Sept. 19, stating that it had bagged an order aggregating to Rs 160 crore for lifting pond ash and fly ash under the Road-cum-Rail mode. The subsequent clarification revised only the quantity mentioned in the original disclosure.
“With reference to the Company's disclosure dated September 19, 2026 regarding the contract awarded to Refex Industries Limited for lifting of Pond Ash and Fly Ash under RCR (Road-cum-Rail) Mode, we wish to clarify that the quantity under the said contract is 10 Lakh Metric Tonnes and not 10 Metric Tonnes, as inadvertently stated in the earlier disclosure,” the company stated in the regulatory filing.
Refex Industries Stock Price Movement
The stock has been in focus over the past week, gaining around 6.8%, and in 2026 so far, the stock has risen around 11.74%.
Currently, it is trading at a price-to-earnings multiple of 15.05 times, with a market cap of Rs 3,882.5 crore.
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