Here's what will keep Refex Industries shares in focus on Monday

Shares of Refex Industries Ltd., which plunged nearly 20% on Friday, are expected to remain in focus on Monday, December 15.

The company informed the exchanges that the search operations conducted by the Income Tax Department between December 9 and December 13 concluded late on December 13. Refex Industries said it has not received any communication, notice, or order from the tax authorities indicating any adverse findings following the search.

The company, in its filing, said it and its officers extended full cooperation during the course of the search and furnished all information and documents sought by the authorities. It added that business operations continue as normal and remain unaffected.

Separately, Refex Industries disclosed that capital markets regulator SEBI has imposed a penalty of ₹10 lakh on Anil Jain, promoter and non executive director of the company.

SEBI alleged that Jain, in his capacity as chairman and managing director, communicated unpublished price sensitive information to certain entities or individuals, who then traded in Refex Industries shares while in possession of the information, allegedly making unlawful gains of ₹12.33 lakh.

The company clarified that the penalty has been imposed on Jain in his individual capacity and therefore has no financial, operational, or monetary impact on Refex Industries.

It further said that Jain intends to vigorously contest the order and believes he can strongly defend his position through the legal process by availing remedies available under law.

Refex Industries shares ended Friday's session 19.99% lower at ₹254.90. The stock is down close to 50% so far in 2025.