Refex Industries gains after its arm enters into strategic tie-up with Gensol Engineering
Refex Industries is currently trading at Rs. 477.00, up by 7.35 points or 1.56% from its previous closing of Rs. 469.65 on the BSE.
The scrip opened at Rs. 493.10 and has touched a high and low of Rs. 493.10 and Rs. 475.00 respectively. So far 21401 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 600.00 on 30-Sep-2024 and a 52 week low of Rs. 109.34 on 14-Feb-2024.
Last one week high and low of the scrip stood at Rs. 502.25 and Rs. 458.70 respectively. The current market cap of the company is Rs. 6136.16 crore.
The promoters holding in the company stood at 57.12%, while Institutions and Non-Institutions held 1.53% and 41.35% respectively.
Refex Industries’ subsidiary -- Refex Green Mobility (Refex eVeelz) has entered into a strategic tie-up with Gensol Engineering to acquire 2,997 electric four-wheelers (e4Ws). This step is a significant one towards strengthening sustainable mobility solutions in India.
This strategic tie-up will involve Refex eVeelz assuming Gensol Engineering’s existing loan facility amounting to nearly Rs 315 crore, streamlining operations, and enhancing the deployment of e4Ws across key markets, including Chennai, Bengaluru, Hyderabad, Mumbai, and Pune where Refex eVeelz currently operates.
Refex eVeelz subsequently proposes to lease these said 2,997 vehicles to Blu-Smart Mobility, a leading electric mobility platform, ensuring seamless continuity and growth in the electric mobility sect
