Refex Renewables & Infrastructure Limited (RRIL) saw its shares locked in a 5% upper circuit on Monday, November 04, 2024, reaching a new 52-week high of ₹1,121.05 per share. This price surge reflects renewed market confidence following a recent acquisition announcement, which has positioned RRIL for further growth in the renewable energy sector. The development has drawn interest among investors looking to buy shares online as RRIL's growth trajectory continues to capture market attention.
Acquisition boosts Refex Renewables & Infrastructure's market standing
The stock's upward momentum came shortly after RRIL announced that its subsidiary, Refex Green Power Limited, acquired the remaining 51% equity stake in Sherisha Solar SPV Two Private Limited. This strategic move strengthens RRIL's control, giving it a 100% stake in Sherisha Solar. This consolidation enhances RRIL's portfolio and solidifies its position within India's renewable energy market, making it an attractive option for those looking to buy shares online in sustainable energy companies.
RRIL's legacy and growth in India's solar energy sector
Founded in 1994 and previously known as SunEdison Infrastructure Limited, Refex Renewables & Infrastructure Limited has a longstanding heritage in the energy sector. Originally rooted in silicon manufacturing, the company now operates across 80 sites in 11 states, focusing on engineering, procurement, and construction for solar power plants and solar water pumps.
Since entering the solar energy market in 2008 and evolving into an Independent Power Producer (IPP) in 2018, RRIL has established itself as a forward-thinking company committed to advancing eco-friendly energy solutions. Investors looking to buy shares online are increasingly attracted to RRIL's sustainable energy mission and established market position.
Refex Renewables & Infrastructure market performance and financials
Refex Renewables & Infrastructure's current market capitalisation stands at ₹503.34 crore, reflecting its stable presence in the renewable energy sector. The stock's 52-week range spans from ₹355 to ₹1,121.05, marking significant growth potential for those who buy shares online. As of 9:55 AM on Monday, RRIL shares remained locked at their 5% upper limit of ₹1,121.05, even as the BSE Sensex dropped over 1%, highlighting the stock's resilience and investor confidence.
Positive outlook for RRIL and renewable energy investors
With a strategic acquisition that strengthens its solar project portfolio, Refex Renewables & Infrastructure continues to position itself as a promising investment for those looking to buy shares online in the renewable energy sector. The 5% upper circuit lock and 52-week high demonstrate a strong outlook for RRIL, underpinned by growing demand for sustainable energy solutions in India.
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