Shares of Refex Renewables and Infrastructure Ltd. were in the spotlight during Tuesday’s trading session, delivering yet another day of massive gains for its investors. The stock surged by 16% intraday, touching a 7-week high of ₹722, a level last seen in early February. This sharp jump not only reflects renewed investor confidence but also solidifies the company’s position as a multibagger stock of the decade.
📊 From Penny to Powerhouse: ₹6 to ₹722
In a market full of short-term fads and speculative bubbles, Refex Renewables has emerged as a true long-term winner. Back in March 2019, the stock was trading at just ₹6 per share. Fast forward to April 2025, and the same share is now worth ₹722 — that’s a jaw-dropping 12,000% return in just over six years.
Such performance is rare and speaks volumes about the company’s vision, execution strategy, and ability to capitalize on the green energy revolution.
🔍 What Triggered the Recent Rally?
The current surge in stock price is backed by strong fundamental developments. Refex Green Power Ltd., a wholly-owned subsidiary of Refex Renewables, has bagged its third major contract in April 2025. The contract is for setting up a 250 TPD (tons per day) Bio-CNG plant, based on municipal solid waste.
Here are the key details of the project:
- ✅ Project Cost: ₹78.54 crore
- ✅ Completion Timeline: 19 months
- ✅ Business Model: Public Private Partnership (PPP) on a DBFOT (Design, Build, Finance, Operate & Transfer) basis
This move solidifies the company's role in India’s bio-energy sector and shows its consistent effort in executing sustainable, environment-friendly infrastructure.
📅 April’s Project Timeline – 3 Major Wins in 1 Month!
The April momentum isn’t coincidental. It’s built on three strategic contract wins:
- April 2, 2025: Refex Green Power won a contract to build a 200 TPD Bio-CNG plant.
- April 5, 2025: Another win came with a 250 TPD Bio-CNG plant project in Coimbatore, awarded under similar PPP-DBFOT terms.
- April 8, 2025: The third and latest order for a 250 TPD plant was announced.
Each of these projects contributes to Refex’s rising order book and visibility of revenue, which are key metrics for stock market valuation.
📉 From Crash to Comeback: How Refex Bounced Back
It hasn't all been a smooth ride. After reaching an all-time high of ₹1,166 in November 2024, the stock experienced a severe 48% correction due to broader market weakness and profit booking. Such volatility is expected in high-growth stocks, but what's remarkable is how quickly Refex has bounced back.
As of early April 2025, the stock has already recovered 14% this month, with more upside possible if project execution goes as planned.
💼 Retail Investors Cash In
Retail participation in Refex has been high. As per the December 2024 shareholding pattern, retail investors held a 25.1% stake in the company. This is significant because it indicates that individual investors, not just institutions, have reaped the benefits of this extraordinary growth.
Those who believed in the long-term potential of clean energy and green infrastructure have seen their capital multiply dramatically.
🔮 The Road Ahead: What Investors Should Watch
Refex Renewables is strategically positioned in one of the most promising sectors of the Indian economy — renewable and sustainable energy. With the government pushing towards net-zero emissions and increasing incentives for waste-to-energy projects, the demand for companies like Refex is only going to grow.
Investors should watch for:
- 🏗️ Timely completion of the awarded Bio-CNG projects
- 📈 Revenue recognition and impact on quarterly financials
- 🤝 Future government contracts or strategic partnerships
- 💡 Expansion into other green technologies like hydrogen, EV infrastructure, etc.
📝 Conclusion
The success story of Refex Renewables and Infrastructure Ltd. is a perfect case study in long-term investing and sustainable sector growth. From being a little-known ₹6 stock in 2019 to becoming a ₹722 giant in 2025, the journey has been phenomenal.
While short-term volatility is always possible, the company’s strong fundamentals, consistent order wins, and growing green footprint make it a stock to watch closely.
📌 Disclaimer: This article is for informational purposes only. Please consult a financial advisor before making investment decisions.
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Note:
Before adopting any health tips, consult a doctor. Because no one knows better than your doctor what is appropriate or how appropriate for your body