RHI Magnesita India Share Price Jumps 11%; Here's Why
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RHI Magnesita India emerged among Thursday's top gainers after announcing a leadership transition, approving a subsidiary merger to simplify its corporate structure, and outlining its next phase of growth
✨ Key Takeaways
On Thursday, Indian benchmark indices traded higher, with the Nifty 50 rising 99.50 points, or 0.41 per cent, to 24,095.55. Amid the positive market sentiment, RHI Magnesita India share price jumped 11.30 per cent to Rs 431.50, making it one of the Top Gainers of the day.
New MD & CEO Takes Charge
RHI Magnesita India announced the appointment of Pankaj Malhan as its new Managing Director and Chief Executive Officer, effective July 1, 2026, while Parmod Sagar will continue as the Chairman of the company.
Pankaj Malhan brings more than 30 years of leadership experience across the steel, manufacturing, industrial materials and infrastructure sectors. Before joining RHI Magnesita India, he held senior leadership roles at JSW Steel and Dalmia Bharat, where he led large-scale business transformation, operational excellence and growth initiatives. The company believes his experience will support the next phase of expansion following recent strategic acquisitions.
RHI Magnesita India Board Approves Merger of Subsidiaries
The company's board, along with the boards of its subsidiaries, also approved a Scheme of Merger involving Intermetal Engineers (India) Private Limited and Ashwath Technologies Private Limited, with the appointed date fixed as April 1, 2026.
The merger aims to simplify the corporate structure by eliminating the intermediate holding company, reducing administrative and compliance costs, improving resource utilisation and strengthening operational efficiency. Following the merger, Ashwath Technologies will become a 100 per cent wholly owned subsidiary of RHI Magnesita India.
Strong Trading Volumes Signal Investor Interest
The sharp rally was also supported by strong trading activity. During Thursday's session, 27.62 lakh shares of RHI Magnesita India changed hands, significantly higher than the 10-day average trading volume of 4.85 lakh shares. The surge in volumes indicates heightened investor participation and reflects positive market sentiment following the company's leadership transition and corporate restructuring announcements.
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About RHI Magnesita India
RHI Magnesita India is the country's leading manufacturer and supplier of high-grade refractory products, systems and solutions used in high-temperature industrial processes across the steel, iron, cement, non-ferrous metals and glass industries. The company operates eight manufacturing plants, two mines, two mechanism units, three main offices and 35 site offices across India, supported by a world-class R&D centre at Bhiwadi.
The company has strengthened its market position through strategic acquisitions, including Dalmia OCL and Hi-Tech Chemicals, and reported FY26 revenue of approximately Rs 4,020 crore, reflecting continued expansion despite exceptional impairment charges.
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Disclaimer: The article is for informational purposes only and not investment advice.