RHIM to set up refractory recycling JV with Khemka 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

₹375.70

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

Stock

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30m

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Sessions after the filingfrom the prior close

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Reaction day

-1.0-0.4-0.5-1.0+0.0

Next day

-1.7-0.9-0.7-1.9+0.2

-3.1-0.4-2.7-1.5-1.6

+3.0+0.1+2.9-1.5+4.5

+5.3+1.1+4.2+1.2+4.1

+1.2+1.2+0.0+0.4+0.8

+1.2+0.9+0.3-1.3+2.5

15d

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+1.9+2.1-0.2+6.1-4.1

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 board approved a JV with Khemka Refractories for a greenfield refractory recycling facility in Odisha. RHIM will hold 51% and Khemka 49%. The JV will be initially a wholly owned subsidiary of RHIM, with 49% later allotted to Khemka. No cash is exchanged between parties for the agreement. RHIM posted FY26 turnover of Rs 4,01,995 lakhs; Khemka turnover was Rs 48,726 lakhs. The JV targets circular economy and supply chain resilience in the Indian refractories sector.

Likely market impact

Strategic move into recycling and circular economy. Adds a new subsidiary; near-term impact limited as facility is greenfield but strengthens long-term positioning.