Strota/ Newsroom/ 2026-06-24

REFEX (REFEX): Acquisition / M&A

Strota Newsroom · session of 2026-06-24 · 24 Jun 19:36 · REFEX stock page →

Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Require… Historically, acquisition / m&a events have moved REFEX-type stocks in the bullish direction 48.9% of the next sessions (n=141).

REFEX Industries has disclosed that the National Company Law Tribunal (NCLT) has passed an order in connection with its Composite Scheme of Amalgamation and Arrangement, according to an NSE exchange filing dated 24 June. The disclosure, made under Regulation 30 of the SEBI Listing Regulations, relates to the convening of meetings for the proposed merger or acquisition structure. The filing does not specify transaction value or counterparty details.

Events like this—M&A-related NCLT orders for scheme approvals—have historically shown a 48.9% win rate across 141 comparable instances in Strota's database, with a net edge of 0.213 percentage points. This base rate reflects how similar corporate events have performed in aggregate, not a forecast for REFEX specifically.

The stock currently trades at a price-to-earnings multiple of 18.83 and a price-to-book ratio of 3.08, with return on equity at 17.8% and a market capitalisation of ₹4,916 crore. The dividend yield stands at 0.15%. Recent headlines note a ₹29.34 crore pond ash transportation order and promoter pledge activity at 23.06% of stake, while one arm has reportedly entered the ₹100-crore revenue club with FY26 total income rising 2.5 times.

What the filing establishes: NCLT procedural clearance for a composite scheme. What it does not establish: completion timeline, valuation impact, or regulatory approval certainty. The historical base rate offers context on how markets have processed similar events, not guidance on this transaction's outcome.

The catalyst

Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( SEBI Listing Regulations ) regarding the order passed by Hon'ble NCLT in connection with the Composite Scheme of Amalgamation and Arrangement for convening of meeting (filing · NSE)

What the data shows after this event

Across Strota's backtest of past filings, Acquisition / M&A shows no reliable next-session edge — the move went bullish in about 48.9% of next sessions (net 0.213% after drift and cost, n=141). A base rate, not a forecast for this stock.

REFEX right now

P/E 18.83. Full REFEX analysis →

Sources

Keep digging

How this article was made: Strota assembled the exchange data above (prices, F&O open interest, bulk/block deals, SEBI PIT filings, indicator readings and public headlines) and an AI model wrote the narrative strictly from that evidence — it is not permitted to add outside facts or numbers. Every figure comes from the underlying exchange/public data.