Refex Industries Share Price Soars to 11,000% in the Last 10 Years ππ°
Investors in the stock market have witnessed incredible returns in a short period of time, with Refex Industries being one such example. Over the past decade, the stock has surged by a staggering 11,000%, turning a Rs 10,000 investment into Rs 11 lakh. ππΈ
On Friday, the company’s share price stood at Rs 152.40, a significant jump from Rs 1.37 ten years ago. In August 2023, the stock reached a high of Rs 184.79, marking a 52-week high. Conversely, on June 9, 2023, the share price hit a low of Rs 99.32, a 52-week low. ππΉ
Over the past six months, the stock has surged by 33%, and compared to the previous year, it has grown by nearly 44%. Refex Industries boasts a balance sheet with assets exceeding Rs 1,600 crore. πΌπ°
As of Monday (June 10, 2024), the share price rose by 3.52% to Rs 157. The company’s shareholding pattern reveals that promoters hold a 55.28% stake, while public shareholders own 44.72%. Sherisha Technology Private Limited, the promoter, holds 6,39,48,085 shares. Foreign investors and mutual funds do not have a significant stake in public shareholding. ππ
In the March 2024 quarter, Refex Industries’ operational revenue nearly halved to around Rs 337 crore, compared to Rs 630 crore in the same period last year. Similarly, post-tax profits decreased to Rs 35.7 crore. ππ΅
Senior Technical Analyst at Arihant Capital, Milin Vasudev, predicts further upside potential for the stock. Should the share face resistance at Rs 159, it may climb to levels of Rs 170-176. Investors are advised to consider buying opportunities. ππ‘
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
