Refex Industries Share Price Jumps 10 Per Cent; Here’s Why the Share Price Recovered from Day’s Low

The Indian equity benchmark indices, after witnessing a gap-down opening on Monday, December 15, 2025, staged a smart recovery from lower levels. The Nifty 50 index rebounded nearly 80 points from the day’s low of 25,904.75, reflecting selective buying interest despite a weak start to the session.

Amid this broader recovery, Refex Industries emerged as one of the notable gainers. The stock saw a sharp rebound from its Intraday lows and featured among the top five gainers on the BSE Smallcap index.

As of around 11:00 AM on December 15, 2025, Refex Industries’ share price was up nearly 10 per cent. Earlier in the session, the stock had touched a 52-week low of Rs 215.10 on the NSE. However, it later recovered strongly and was trading around Rs 280 per share.

The recovery in Refex Industries’ share price comes after heavy selling pressure in the previous session. On Friday, the stock was locked in a 20 per cent Lower Circuit following reports of search operations conducted by the Income Tax Department at certain premises linked to Refex Industries in Chennai.

Subsequently, the company issued a press release confirming the development, stating: “We hereby inform that the Income Tax Department conducted search operations at the registered office of the Company and certain other locations associated with the Refex Group. The search operations commenced on December 09, 2025.”

The sentiment around the stock improved after the company provided further clarification. In another disclosure, Refex Industries informed investors that the search operations had concluded without any adverse communication from the authorities. The company stated: “We hereby inform that the search operations initiated by the Income Tax Department on December 09, 2025, have been concluded late evening on Saturday, i.e., December 13, 2025. The Company and its officers have extended full cooperation to the authorities throughout the course of the search and have furnished all information and documents as sought by them. As on date, the Company has not received any communication, notice, or order from the Income-Tax Department indicating any adverse findings pursuant to the aforesaid search operations.”

Additionally, Refex Industries reassured investors that its operations remain unaffected. In its press release, the company said: “The business operations of the Company continue to remain unaffected and are being carried on in the normal course. Rest assured, we at Refex, strictly adhere to the highest standards of ethical conduct and legal compliance.”

Separately, the company also disclosed that the Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 10,00,000 under Section 15G of the SEBI Act, 1992, on Mr. Anil Jain, Promoter, Chairman, and Managing Director of the Company.

Commenting on the same, the company stated: “Mr. Anil Jain intends to vigorously contest his position and believes he can strongly defend the same through the legal process and would avail recourse available under law against this penalty adjudication order.”

The stock’s sharp rebound appears to be driven by the conclusion of the Income Tax search operations without any adverse findings and the company’s clarification that its business remains unaffected, helping restore investor confidence after the recent sell-off.

Disclaimer: The article is for informational purposes only and not investment advice.