Refex Industries stock crashes 20% on IT search; firm says operations unaffected.

• Refex Industries shares hit a 20% lower circuit following news of an Income Tax Department search.
• The company's stock has lost approximately 50% of its value over the past year.
• Refex Industries clarified that the IT search has not impacted its business operations and it is fully cooperating with authorities.
• Promoters increased their stake in the company, while small investors reduced theirs during this period.
• Refex Industries specializes in ash handling and coal management services for thermal power plants.

Why It Matters: IT search crashes Refex stock, showing investor sensitivity to investigations.