Refex Industries stock crashes 30% amid IT search, SEBI fine on Anil Jain

• Refex Industries shares crashed by 30% in three days, hitting a new 52-week low.
• Income Tax Department conducted a search operation on the company from December 9-13.
• SEBI imposed a ₹10 lakh penalty on promoter Anil Jain for sharing unpublished price-sensitive information.
• Anil Jain is accused of sharing UPSI, leading to alleged illegal gains of ₹12.33 lakh.
• The company clarified the SEBI penalty is personal to Anil Jain and will not impact its operations.

Why It Matters: Investor trust in Refex Industries shaken by SEBI penalty and tax raid.