Refex Industries Shares Jump 11% After Sharp Decline Amid I-T Search Clarification

Market Performance

• Intraday Low: ₹215.10
• Intraday High / Rebound: ₹284.20
• Three-Session Fall: ~34%
• 5-Day Decline: Over 11%
• 1-Month Decline: 20.5%
• 6-Month Decline: Over 40%
• YTD Decline 2025: 42%

Main News: I-T Searches at Refex Industries

Refex Industries confirmed that Income Tax Department searches were conducted on December 9 at its registered office and other related locations.

• The company stated it provided full cooperation to the authorities and supplied all relevant documents.
• Refex emphasized that business operations continue normally and remain uninterrupted.
• In a filing on December 14, the company clarified that it had not received any communication suggesting adverse findings from the I-T Department.
• The company also addressed speculative media and social media reports, calling them unsupported and misleading.

These clarifications helped restore market confidence, prompting the intraday recovery.

SEBI Penalty on CMD

Additionally, SEBI imposed a ₹10 lakh penalty on CMD Anil Jain over allegations of insider trading involving the disclosure of unreleased price-sensitive information.

• The unlawful gains reportedly amounted to ₹12.33 lakh.
• Refex Industries stated that Anil Jain intends to contest the penalty and will utilize all legal avenues to defend his position.

Company Details & Stock Metrics

• Current P/E Ratio: ~23
• Recent Stock Performance:
  • 5-day: -11%
  • 1-month: -20.5%
  • 6-month: -40%
  • YTD 2025: -42%

The stock’s performance reflects a mix of regulatory news and market sentiment, emphasizing the role of clarifications in moderating investor reactions.

Summary

Refex Industries experienced sharp intraday volatility following I-T searches and regulatory updates. The company’s proactive clarification reassured investors that operations remain unaffected, while the SEBI penalty on the CMD adds a compliance dimension.

Despite the recent downward trend, the 11.5% rebound demonstrates that timely and transparent communication can help stabilize market sentiment.