Refex Renewables & Infra was stuck in a 5% upper circuit today

Refex Renewables & Infra was stuck in a 5% upper circuit today for the following reasons:-
On Monday, November 4, 2024, shares of Refex Renewables & Infrastructure were trapped in a 5% upper circuit at Rs 1,121.05 per share. The stock also reaches a new 52-week high at this time.

Following the company’s announcement that its wholly-owned subsidiary, Refex Green Power Limited, had purchased the remaining 51% equity stake from the current shareholder in Sherisha Solar SPV Two Private Limited, a step-down subsidiary company, the share price of Refex Renewables & Infrastructure increased.
“We would like to inform all our stakeholders that Refex Green Power Limited, a wholly-owned subsidiary of the Company, has acquired the remaining 51% equity stake from the existing shareholder in Sherisha Solar SPV Two Private Limited, a step-down subsidiary company,” Refex Renewables & Infrastructure stated in an exchange filing. This brings the total shareholding and control to 100% and establishes Sherisha Solar SPV Two Private Limited as a step-down wholly-owned subsidiary company.
Originally called SunEdison Infrastructure Limited, Refex Renewables & Infrastructure Limited (RRIL) is a public limited company that was established in August 1994. The company specializes in engineering, purchasing, and building services for home solar systems, solar water pumps, and ground-mounted solar power plants. With a strong history in the silicon sector, RRIL was founded in 1959 as the Monsanto Electronic Material Company (MEMC), a branch of the global Monsanto Corporation, to produce silicon wafers for the expanding electronics industry.