Refex Industries Ltd gained on the bourses on Wednesday after announcing that its subsidiary, Venwind Refex Power Ltd (VRPL), had won a major renewable energy contract.
The company disclosed that VRPL has signed a term sheet with a leading Independent Power Producer for the supply of wind turbine generators (WTGs) and tubular towers for wind projects in Gujarat.
The contract, valued at ₹474.45 crore, includes the design, procurement, manufacturing, and commissioning of the WTGs, along with supervisory support for foundation casting and erection.
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The execution of the order will be phased, with projects worth ₹142.3 crore to be completed by March 2026 and the balance ₹332.1 crore by March 2027.
Following the announcement, Refex Industries’ shares rose 3.1% to ₹402.50 on the NSE as of 2:41 pm, after hitting an intraday high of ₹415.
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