RHI Magnesita India forms JV with Khemka for refractory recycling plant in Odisha

Marquee JV announcedStrategic Transactions View source PDF Explain this filing

RHIM · price

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Price reactionminutes from the announcement price · days from the prior close

-1.0%Reaction day

₹378.65

prior close

₹374.80

announcement price

In-mkt

timing

Nifty Smallcap 250market-0.4%-0.5% vs market

Electrodes & Refractories peers, median of 9sector-1.0%+0.0% vs sector

On the reaction day the stock moved 0.5 pts less than Nifty Smallcap 250 and in line with its Electrodes & Refractories peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Next day

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15d

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UpDownMarket · Nifty Smallcap 250Sector · Electrodes & Refractories peers, median of 9Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

RHI Magnesita India's board approved a joint venture with Khemka Refractories to set up a greenfield refractory recycling facility in Odisha. The JV will be incorporated as RHIM's wholly owned subsidiary initially, with Khemka later taking 49 percent and RHIM holding 51 percent. No cash consideration is exchanged. RHIM had a turnover of about Rs 40,199 crore in FY26, while Khemka's turnover was around Rs 4,872 crore. The JV targets circular economy and supply chain resilience.

Likely market impact

Expands RHI Magnesita into circular refractory recycling in eastern India. Positive for long-term growth and sustainability, though near-term financial impact is limited.