Refex Industries Ltd.REFEX₹390.35 +15.47%

Shares of Refex Industries Ltd. surged over 15% in Tuesday’s trading session, reaching an intraday high of ₹404.40 apiece, as the company’s board approved a strategic demerger of its Green Mobility business. 

The approved composite scheme involves the amalgamation of the wholly-owned subsidiary, Refex Green Mobility Limited, into RIL. Following this, the entire Green Mobility unit will be demerged into a newly incorporated company, Refex Mobility Limited (RML). The plan includes a key provision for RML to be independently listed on both the BSE and NSE, creating a clear and separate investment avenue for investors interested in the green mobility sector.

This restructuring aims to create two highly focused platforms: RIL will concentrate on its core strengths in Ash & Coal handling, while the new RML will be dedicated entirely to sustainable mobility solutions using clean-fueled vehicles.

By creating a dedicated listed platform for our Green Mobility Business, the company aims to sharpen their focus and unlock value for shareholders across both the entities, reaffirming their commitment to clean, technology-driven urban corporate transport.

The implementation of the demerger is contingent on obtaining a series of regulatory and shareholder approvals. Upon completion, a “mirror shareholding structure” will be established, ensuring that all existing shareholders of RIL will receive equity shares in RML in the same proportion as their current shareholding.

Over the last three and five years, this stock has delivered multibagger returns of more than 1,015% and 4,270%, respectively. 

Let’s take a look at its Factor Analysis scores:

Note: The stock prices mentioned are as of 3:30 pm.

Disclaimer and Disclosure 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Registration granted by SEBI, enlistment as Research Analyst with Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Kindly refer to  https://share.market/ for more details.Investments in WealthBaskets are subject to the Terms of Service. All investors are advised to conduct their own independent research into investment strategies before making an investment decision. PPWB acts as a distributor of mutual funds and it is not an exchange traded product. PPWB acts as a distributor of mutual funds and WealthBaskets and it is not an exchange traded product. Disputes with respect to the distribution activity of Mutual Funds and WealthBaskets will not have access to Exchange investor redressal or Arbitration mechanism. The securities are quoted as an example and not as a recommendation. This is for informational purposes and should not be considered as recommendations.

PhonePe Wealth Broking Private Limited is a member of NSE & BSE with SEBI Regn. No.: INZ000302639, Depository Participant of CDSL Depository with SEBI Regn. No.: IN-DP-696-2022, Research Analyst with SEBI Regn No: INH000013387, BSE RA Enlistment Number: 5887 and Mutual Fund distributor with AMFI Registration No: ARN- 187821. Member ID: BSE- 6756, NSE- 90226. Registered office – 2, Floor 3, Wing A, Block A, Salarpuria Softzone, Service Road, Green Glen Layout, Bellandur, Bengaluru South, Bengaluru, Karnataka – 560103, INDIA. CIN: U65990KA2021PTC146954