Small Cap Multibagger Stock Hit Upper Circuit On Stock Split Buzz: Do You Own?

A small-cap firm in the chemical industry, Refex Industries Limited, started on the BSE today with a 5% upper circuit limit of Rs 647.15 per share. The upward trajectory in the stock was seen ahead of the announcement of the stock split scheduled for Wednesday, January 24, 2024.

Refex Industries News

The company said in a regulatory filing that "Pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, 24th day of January, 2024 inter alia, to consider and approve the proposal to alter the share capital by sub-division/split of the existing equity shares of the Company having Face value of Rs.10/- each, in such manner as may be determined by the Board of Directors and subject to approval of the shareholders and such authorities as may be required. "

Commenting on trading window closure, Refex Industries informed to stock exchanges that "Pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 and "Code of Internal Procedures and Conduct for Regulating, Monitoring and Reporting of Trading in Securities by Designated Persons" of Refex Industries Limited and as intimated earlier, the Trading Window shall remain closed from January 01, 2024 till conclusion of 48 hours after the declaration of financial results of the Company for the quarter ended December 31, 2023. "

Refex Industries Financials

With a decrease of 0.32%, the firm recorded a total income of Rs. 355.11 crores for the quarter ended September 30, 2023, as opposed to Rs. 356.23 crores for the period ending September 30, 2022. Net profit for the firm dropped by 8.46% from Rs 25.45 Cr in Q2FY23 to Rs 23.29 Cr in Q2FY24. In contrast to Rs. 12.12 for the same period in FY23, the company recorded EPS of Rs. 10.52 for the period ended September 30, 2023.

Refex Industries Share Price History

The stock price went up from Rs 17.73 to the current market price during the previous five years, resulting in a multibagger return of 3,239.91%. The stock price climbed from Rs 95.05 to the current market price during the previous three years, yielding a multibagger return of 531.37%. The stock price jumped from Rs 265.20 to the current market price in the past year, delivering a multibagger return of 144.23%. The share has risen by 4.81% year to date (YTD) in 2024.