Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; gains over 400 per cent!

Shares of the company have gained more than 100 per cent in the last one year.

Shares of Refex Industries Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. The stock has also gained more than 400 per cent in the last three years.

In the recent quarter, Q2FY24, the net sales of the company stayed flat which decreased by 0.88 per cent at Rs 350.69 crore for Q2FY24 as compared to Rs 353.43 crore for the corresponding quarter previous year. The company reported an 8.05 per cent decline in its net profit at Rs 23.40 crore for the quarter ended September 30, 2023, as compared to Rs 25.45 crore for the same quarter in the previous year.

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Refex Industries Limited (RIL) is a specialist manufacturer and re-filler of Refrigerant gases in India, particularly, environmentally acceptable gases that are replacements for Chloro-fluoro-carbons (CFCs).

These are used primarily as refrigerants, foam-blowing agents and aerosol propellants. RIL exercises superior quality control and efficiency with the aid of sophisticated and novel computer technology. Reflex is committed to being an exemplary player in terms of safety, protection of health and environment, and sustainable development. 

The stock has shown tremendous growth, and investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.