RHI Magnesita India forms JV with Khemka Refractories for recycling facility

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

₹377.40

announcement price

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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.

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Next day

-1.7-0.9-0.7-1.9+0.2

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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 (RHIM) is forming a 51:49 joint venture with Khemka Refractories to set up a greenfield refractory recycling facility in Odisha. The JV will focus on recovering and reusing spent refractory materials, supporting circular economy goals. RHI Magnesita will hold 51 percent stake. Deal expected to close in Q3 2026, subject to closing conditions.

Likely market impact

Strategic move into circular economy; aligns with sustainability trends and could strengthen long-term supply chain for refractory raw materials.