On Thursday this small-cap stock gains more than 3% after the company’s subsidiary acquired a 49.99% stake. The stock has given 129% returns and 290% returns in six months and one year, respectively.
Therefore making an investment of 1 lakh six months ago is now worth Rs. 2.29 lakhs and making the same investment one year ago now would be worth Rs. 3.90 lakhs.
Refex Industries Ltd
Refex Industries the company has a market capitalization of Rs. 1,397 Cr making it a small-cap company. On Thursday the company shares closed 1.2 up at Rs. 631.50 on BSE.
According to the company filing, Refex Industries Ltd’s wholly-owned subsidiary Refex Green Mobility Limited (RGML) has made an investment in O3 Mobility Private Limited by acquiring a 49.99% stake in the shares on October 04, 2023. The shares are acquired at a face value of Rs. 10 per share and the total cost of acquisition is Rs. 99,960.
O3 Mobility Private Limited is engaged in the business of providing transport facilities for passenger and logistics services and charging infrastructure facilities and other businesses.
As per the compnay filing, total revenue grew by 43.8% from Rs. 265.1 Cr in Q1 FY23 to Rs. 381.3 Cr in Q1 FY24 and for the same period, net profits increased by 60% from Rs. 13.7 Cr to Rs. 22 Cr.
As of June 2023, promoters hold 52.70%, FIIs hold 0.68%, DIIs hold 0.16% and the public hold a 46.46% stake in the company.
Refex Industries Ltd is a refrigerant gas manufacturer and refiller. Coal Trading, Solar Power: Generation & Related Activities, Refrigerant Gases, and Ash and Coal Handling are the company’s operating segments.
Written by Sheshadi N
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