{"id":119776,"date":"2024-02-26T15:12:13","date_gmt":"2024-02-26T09:42:13","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=119776"},"modified":"2024-02-26T16:13:08","modified_gmt":"2024-02-26T10:43:08","slug":"stock-jumps-10-after-pm-modi-inaugurated-its-solar-power-plant","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/stock-jumps-10-after-pm-modi-inaugurated-its-solar-power-plant\/","title":{"rendered":"Stock jumps 10% after PM Modi inaugurated its solar power plant\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-782079317\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Share price of this micro-cap stock moved up by nearly 10% on BSE to Rs. 566.30 in the morning trading session of Monday, compared to its previous close of Rs. 514.85, after the Prime Minister Shri Narendra Modi inaugurated the company\u2019s Solar Power Plant for the Indian Railways.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-4231515250\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalisation of Rs. 252 crores, at 12:50 p.m. the shares of Refex Renewables &amp; Infrastructure Ltd. were trading at Rs. 562.0, up by 9.16 percent.&nbsp;<\/p><p>In the last one year, the company has delivered positive returns of nearly 50.23 percent and more than 50.4 percent of returns in the last six months. So far in 2024, it has given positive returns of around 38.92 percent.&nbsp;<\/p><p>According to the BSE filings, Prime Minister Shri Narendra Modi inaugurated a 50 MW Solar Power Plant at Bhilai, built by Sherisha Rooftop Solar SPV Four Private Limited, a step-down subsidiary company of Refex Renewables &amp; Infrastructure Limited.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2629450290\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>This flagship project is the largest solar power plant commissioned for the Indian railways and was awarded by the Railway Energy Management Company Limited, a joint venture company of Indian Railways and RITES Limited, with the South East Central Railway (SECR) signing a 25-year Power Purchase Agreement.&nbsp;<\/p><p>The project will help in the utilisation of solar energy in running trains and is also expected to reduce CO2 Emissions by over 1 lakh tonnes per year.&nbsp;<\/p><p>Earlier, Refex Group has also commissioned several special projects, including a solar power plant with battery storage for the Indian Army in Siachen, and a 2 MW pilot project in Diwana (Panipat), Haryana, which is India&#8217;s first along the track solar power project.&nbsp;<\/p><p>In terms of financials, the revenue from operations of the company increased by 23.52 percent YoY from Rs. 17 crore in Q3 FY22-23 to Rs. 21 crore in Q3 FY23-24.&nbsp;<\/p><p>The net profit of the company is Rs. -11 crore in Q3 FY23-24, down by 175 percent on a year-on-year basis from Rs. -4 crore in Q3 FY22-23.&nbsp;<\/p><p>Refex Group is one of India\u2019s leading business organizations serving refrigerant gases, renewables, coal &amp; fly ash handling, green mobility, healthcare, pharmaceuticals, airport and power trading sectors.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-4238540930\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Refex Renewables &amp; Infrastructure Ltd. is a leading renewable and green energy company and was originally formed in 1959. The company specialises in the design, execution, installation, and maintenance of solar power systems.\u00a0<\/p><p><strong>Written by Shivani Singh&nbsp;<\/strong><\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2179684377\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Share price of this micro-cap stock moved up by nearly 10% on BSE to Rs. 566.30 in the morning trading session of Monday, compared to its previous close of Rs. 514.85, after the Prime Minister Shri Narendra Modi inaugurated the company\u2019s Solar Power Plant for the Indian Railways.&nbsp; With a market capitalisation of Rs. 252 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98175,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-119776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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