RHI Magnesita shares surge over 15%, post best day in over 5 years, here is why

Shares of RHI Magnesita India Ltd. soared as much as 15.41% on Tuesday to hit an intraday high of ₹508, marking their best single-day performance in more than five years, according to BSE data. The last time the stock recorded such a sharp move was on April 17, 2020, when it had jumped 18.38%.

The rally came amid unusually heavy trading volumes. On the NSE, trading volumes spiked 180 times to 2.67 crore shares, compared to the average of 1.48 lakh shares. On the BSE, around 22.99 lakh shares changed hands, far higher than the two-week daily average of 11,000 shares.

The surge in share price comes despite the company’s weak April–June (Q1 FY26) earnings.

RHI Magnesita reported a 52% year-on-year decline in net profit to ₹35 crore from ₹73 crore, even as net sales rose 9% to ₹960 crore. Operating profit (EBITDA) fell 33% to ₹102 crore from ₹154 crore a year ago, while EBITDA margin contracted 680 basis points to 10.67% from 17.49%.

“Our Q1 FY26 performance underscores the strength of our operating model, even in a highly commoditized and uncertain market. Our resilience is paying off, as we are able to gain market share and improve our financial results. The refractory market remains competitive, but we are confident in our market positioning and strategic levers to drive growth, improve productivity, and maintain safe operations,”said Parmod Sagar, Chairman, MD & CEO of RHI Magnesita India.

About RHI Magnesita

RHI Magnesita India is the country’s leading manufacturer and supplier of high-grade refractory products, systems, and solutions used in high-temperature industrial processes exceeding 1,200°C. Its products cater to sectors including steel, cement, non-ferrous metals, and glass. The company operates eight manufacturing plants, a world-class R&D centre in Bhiwadi, and has a 6,000+ strong workforce spread across multiple offices and plant sites.

As of 2:45 pm, RHI Magnesita shares traded 10.735 higher at ₹487, outperforming the BSE500 index, which was up 0.22%.