Energy
Refex Industries Limited (NSE: REFEX) extends gains, moves up 5% intraday
Refex Industries Limited (NSE: REFEX) stock price moves up 5% intraday to ₹351.5, extending gains in the Energy > Thermal Coal sector.
Refex Industries Limited (REFEX) extended gains by +5% to ₹351.5 on the NSE today, pushing higher within its 6-month consolidating uptrend. The move follows the company’s announcement of securing a new order for Ash Transportation for various road construction projects, signaling continued demand for its ash and coal handling services. REFEX operates in the thermal coal segment of the energy sector, and today’s move appears to be more company-specific rather than a broad-based sector rotation.
Technical setup — trendlines & DMA
From a technical perspective, REFEX is currently trading above its 6-month support trendline, which ends at ₹322.41, representing an 8.28% cushion below the current price. However, the stock is still below the 6-month resistance trendline at ₹372.56, indicating that it has not yet cleared this hurdle. The 50-day moving average (DMA) of ₹303.3 is above the 200-DMA of ₹281.8, signaling a positive intermediate-term trend. However, the stock is currently trading 10.32% above the 50-DMA, suggesting that it may be somewhat extended in the short term. Within its 52-week range of ₹188.0 to ₹464.4, the current price is in the middle third, indicating that a significant portion of the move may already be priced in.
Snapshot: ₹351.50 on 2026-07-09 (chart frozen at publication)
Fundamentals & business context
On the fundamental front, REFEX’s price-to-earnings (PE) ratio of 18.6 may appear stretched given its current profit margin of 8.9%. However, the company has demonstrated strong revenue growth with a 5-year compound annual growth rate (CAGR) of 12.1% and an even more impressive profit CAGR of 20.6%. This growth trajectory, combined with a PEG ratio of 0.90, suggests that the stock may be undervalued relative to its earnings growth potential. The low institutional ownership of 0.5% could indicate that the ‘smart money’ has yet to fully discover this name, leaving potential for further upside if the growth story continues to unfold. There was no specific NSE catalyst today beyond the new order announcement.
Algorithmic scorecard
The algorithmic scorecard paints a picture of a stock that is technically strong but fundamentally weaker. The two strongest signals are the bullish trend, with the 50-DMA above the 200-DMA, and the breakout above resistance levels with momentum, indicating positive price action. The heavy volume on up days compared to down days over the past month, with a ratio of 2.54x, points to systematic accumulation by investors. However, the two weakest signals highlight potential risks. The low profit margin of 8.9% leaves little room for error if costs rise, and the negligible dividend yield of 0.58% offers little income for investors seeking yield. Additionally, the high public ownership of 46.17% could lead to higher volatility, and the stock’s beta of 1.70 indicates it is significantly more volatile than the overall market.
Company outlook
Management provided an optimistic outlook for the coming fiscal year. They expect continued growth in the Ash & Coal Handling business, with a gradual ramp-up in ash handling capacity to 90,000-95,000 tons per day. The execution of existing wind business orders and the pursuit of new orders are expected to drive growth in this segment. Despite geopolitical challenges, management anticipates sustained EBITDA margins and plans to focus on maintaining the current margin while managing finance costs. Localization efforts in the wind business are underway to improve EBITDA margins.
Get all details on REFEX — P&L, peers, shareholding and more on TradeAlone.
Energy
Gp Petroleums Limited (gulfpetro) Approves ₹130 Crores Fundraise Via Ncds and Ocds
GP Petroleums Limited (GULFPETRO) announces board approval for a ₹130 crores fundraise via NCDs and OCDs to fuel growth.
GP Petroleums Limited (GULFPETRO) announced the board’s approval for a strategic fundraise of up to ₹130 crores through the issuance of non-convertible debentures (NCDs) and optionally convertible debentures (OCDs). This initiative aims to accelerate the company’s growth plans and meet its working capital requirements.
Details of the Fundraise
The company plans to issue up to 300 NCDs aggregating up to ₹30 crores for a duration of 36 months and up to 1,000 OCDs aggregating up to ₹100 crores for 18 months, each with a face value of ₹10 lakh. Both instruments will be issued to RevX Special Credit Opportunities Fund II on a private placement basis.
Purpose of Proceeds
The proceeds from this fundraise will be utilized to fund the company’s ongoing business expansion and to fulfill its working capital requirements. The NCDs and OCDs carry a coupon rate of 13% per annum, compounded monthly and paid quarterly, with an additional 1.5% coupon on the deemed date of allotment.
Commenting on the announcement, Mr. Dilip Vaswani, Non-Executive Director, GP Petroleums Ltd. said, “The proposed financing will provide us with the financial agility to accelerate our growth plans, both organic and inorganic. It also reflects the confidence in our strategic vision to strengthen our market position in the hydrocarbon space while giving us the financial foundation towards unlocking long-term value for our stakeholders.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of GP Petroleums Limited
GP Petroleums Limited belongs to the Energy › Oil & Gas Refining & Marketing sector. Here’s a quick read on where the business and the stock stand today.
GP gains 61.5% over three months and trades near its 52-week highs. The PEG stands at 4.59 — severely stretched. Any earnings miss could trigger a sharp de-rating. Thin margins at 5.7% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock gives back 7.5% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. The stock rises 61.5% in three months. Yet revenue grows at only -6.7% and the PEG stands at 4.59. Either the market prices in a turnaround that has not shown up yet, or this is momentum without substance. Check the next two earnings prints before drawing conclusions. Check Fundamentals of GP Petroleums Limited.
Energy
Mangalore Refinery and Petrochemicals Limited (mrpl) Announces Support for Bereaved Family After CHTU Fire Incident
Mangalore Refinery and Petrochemicals Limited (MRPL) announces financial support for the bereaved family of Manish Karkada after a fire incident at their CHT.
Mangalore Refinery and Petrochemicals Limited (MRPL) has announced its support for the bereaved family of Shri Manish Karkada following a tragic fire incident at their Coker Hydrotreater Unit (CHTU) on 30 September 2026. The management of MRPL expresses profound grief over the loss and extends heartfelt condolences to the family and loved ones of the deceased.
Financial Support Announced
While no financial assistance can compensate for the loss of a precious life, MRPL has decided to extend financial support of ₹90 lakh to the family of the deceased. Additionally, the family will be eligible for benefits of approximately ₹10 lakh under the Group Term Life Insurance (GTLI) and ₹20 lakh under the Workmen Compensation Policy (WCP), bringing the total financial support and insurance benefits to approximately ₹1.20 crore.
Commitment to Safety and Welfare
MRPL reiterates its commitment to the safety, health, and welfare of all personnel associated with its operations. The company will continue to extend all possible support to the affected family and is working on finalizing the proposal for Mediclaim insurance for the secondary workforce. The process is expected to be completed within approximately four weeks after discussions with the Hon’ble Member of Parliament, Dakshina Kannada, and the respected DC Dakshina Kannada.
As a result, MRPL remains dedicated to ensuring the highest standards of safety and providing comprehensive support to those impacted by such unfortunate incidents.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Mangalore Refinery and Petrochemicals Limited
Mangalore Refinery and Petrochemicals Limited belongs to the Energy › Oil & Gas Refining & Marketing sector. Here’s a quick read on where the business and the stock stand today.
Mangalore posts a 12.9% three-month gain, but softens in the last few weeks. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. Revenue contracts at -6.7% CAGR. That signals structural headwinds, not a short-term blip. The stock gives back 0.6% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at -6.7% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of Mangalore Refinery and Petrochemicals Limited.
COALINDIA
Coal India Limited (coalindia) Ramps Up Coal Supplies by 12.5% in September Amid Rising Power Demand
Coal India Limited (COALINDIA) boosted coal supplies by 12.5% in September FY 2026-27, meeting rising power demand.
Coal India Limited (CIL) augmented its coal supplies by 12.5% in September FY 2026-27, reaching 61.20 million tonnes (MT), compared to 54.40 MT in the same month of the previous fiscal year. This increase aligns with the rising power demand. Supplies to the power sector also saw a strong growth of 10.63%, rising to 48.90 MT from 44.20 MT in the previous fiscal year. Coal supplies to the non-regulated sector (NRS) registered robust growth, increasing by 19.41%.
Enhanced Production
CIL’s coal production grew by 9.18% to 53.50 MT, compared to 49 MT last year. On a quarter-to-quarter comparison, CIL’s coal supplies recorded strong growth in the second quarter (Q2) of the fiscal year, when the company increased its coal supplies to 186.04 MT, registering a growth of 12.04% over Q2 of the previous fiscal. The company supplied 148.20 MT to the power sector compared to 133.50 MT in Q2 last year. Coal production during Q2 grew by 3.81% to 151.37 MT, as against 145.82 MT during Q2 of the last financial year.
Operational Momentum
The higher supplies enabled CIL to liquidate around 63 MT of pithead coal stocks during the first six months of FY 2026-27. With the sustained operational momentum demonstrated during September and Q2 FY 2026-27, CIL remains well positioned to pursue its assigned coal production and supply targets and continue contributing to the energy security of the country on a sustained basis. With the monsoon season over, coal production is expected to further pick up, along with supplies. CIL has been assigned a coal production target of 815 MT and supply target of 850 MT for the current fiscal.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Coal India Limited
Coal India Limited belongs to the Energy › Thermal Coal sector. Here’s a quick read on where the business and the stock stand today.
Coal moves sideways over three months, with neither buyers nor sellers taking control. D/E of 0.09 and a 4.94% dividend yield give the balance sheet a decent cushion. The 4.94% dividend yield is about the only thing keeping income investors interested right now. Buyers show up with 2.0x the volume of sellers. Moreover, they dominated on 15 of recent sessions versus 14 for sellers — a healthy accumulation pattern. The stock rises -3.2% in three months on 9.3% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Coal India Limited.
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