Multibagger Stock Hit Upper Circuit As Company Set to Expands its EV Fleet with 1,000 Electric Cars in Strategic Partnership with Leading Ride-Hailing Platform
The stock gave multibagger returns of 210 per cent in just 1 year whereas BSE Sensex Index is up by 0.05 per cent.
Today, shares of Refex Industries Ltd hit a 5 per cent upper circuit to Rs 400.75 per share from its previous closing of Rs 381.70 per share. The stock’s 52-week high is Rs 600 per share and its 52-week low is Rs 120.32 per share.
Refex eVeelz, a subsidiary of Refex Industries Limited, is making a substantial move to bolster its electric vehicle fleet by partnering with a major Indian ride-hailing platform. This collaboration will introduce 1,000 electric four-wheelers (e4Ws) into service across key metropolitan areas including Chennai, Hyderabad, Bengaluru, and Mumbai during the fiscal year 2026. This expansion underscores Refex eVeelz’s dedication to promoting clean mobility and aligns with India’s push for a sustainable transportation sector. The strategic partnership allows the ride-hailing platform to enhance its service offerings while Refex eVeelz ensures efficient and reliable EV operations.
The core objective of this initiative is to significantly reduce urban carbon emissions by deploying a fully electric fleet. Refex eVeelz will concentrate on delivering seamless service, ensuring the ride-hailing platform can effectively meet consumer demand and develop new mobility categories. This endeavour builds upon Refex eVeelz’s existing leadership in the EV-as-a-service sector, where it currently manages a fleet of approximately 1,300 electric vehicles across multiple cities. The addition of these 1,000 new e4Ws, coupled with the company's growth in employee transportation, will further solidify its position in the Indian electric mobility market.
This expansion is not only a significant step for Refex eVeelz but also a contribution to India's broader environmental goals. By increasing the adoption of electric vehicles, the company is actively supporting the nation's vision of achieving net-zero emissions by 2070. The focus on scalable, technology-driven operations and strategic alliances positions Refex eVeelz as a key player in the transition to a greener urban transportation landscape.
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About the Company
Refex Industries Ltd is a diversified company primarily engaged in the ash and coal handling business, having emerged as the largest organized player in India. It also operates in power trading, wind turbine generator manufacturing, refrigerant gas distribution, and green mobility. In the ash and coal handling segment, the company manages significant volumes of ash daily and caters to numerous power plants across India. Its power trading division facilitates electricity transactions through various channels, including power exchanges and bilateral agreements. Refex is a prominent supplier of HFC refrigerant gases, offering sustainable alternatives to banned substances. The company has recently expanded its green mobility operations, providing electric vehicle services in major cities.
Refex Industries Limited (RIL) has a market cap of over Rs 5,000 crore. The shares of the company have a PE of 43x whereas the sectoral PE is 33x with an ROE of 24 per cent and an ROCE of 26 per cent. The stock gave multibagger returns of 210 per cent in just 1 year whereas BSE Sensex Index is up by 0.05 per cent. Furthermore, the stock gave 1,530 per cent in 3 years and a whopping 22,000 per cent in a decade. Investors should keep an eye on this Small-Cap stock under the radar.
Disclaimer: The article is for informational purposes only and not investment advice.