The Repo Rate Hike: Inflation Gave the Cover, the Rupee Gave the Reason

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SumanSpeaks Independent Capital Markets & Geopolitical Intelligence RBI Policy Decoded The Repo Rate Hike: Inflation Gave the Cover, the Rupee Gave the Reason The RBI raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. With the rupee at ₹96.78 to the dollar, the Fed at 3.75–4.00 percent and bank credit growing near 18 percent, the fuller story is bigger than August CPI of 4.8 percent. The Reserve Bank of India raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. It is the first hike since February 2023, and the stance has moved from neutral to calibrated tightening. The rate decision was unanimous. The Governor cited inflation. The Monetary Policy Committee said the inflation outlook is no longer as comfortable as it was last year, and near-term rate cuts were taken off the table. That is the official story, and it is not wrong. But it is incomplete. Look at what surrounds the decision: a rupee near its record...
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REFEX REFRIGERANTS LTD
CRISIL Research
CMP: Rs.20.35
Book Value: Rs.32.42
Market Cap: Rs.31.49 Cr
Refex Refrigerants Limited (RRL) was incorporated in 2002. It operates as a refiller and distributor of refrigerant gases. The company refills non ozone-depleting refrigerant gases, such as hydrofluorocarbons
(HFCs). Its products are used in refrigeration, industrial refrigeration, transport refrigeration, food processing, air conditioning, chillers for buildings and systems, aerosol propellants, foam blowing, etc. RRL has a refilling and storage facility in Tamil Nadu from where products are refilled and distributed to major OEMs.
KEY HIGHLIGHTS:
Strategic moves to strengthen the market reach RRL is one of the leading players in the country for HFCs, which are an environmentally safe refrigerant developed to replace chlorofluorocarbons (CFC) in several air conditioning and refrigeration applications. RRL has a technical collaboration with Kaltech Engineering and Refrigerants Pvt Ltd, Singapore (Kaltech is one of the largest trader of HFC gases in the world) in which it owns 51% stake and has increased its footprint outside India. In FY10, the company tied up with Daiken Arkema Refrigerants Asia Ltd for marketing Daiken’s speciality refrigerant gases in India, which has helped the company to increase the sale of speciality refrigerants in newer markets.
Concentrating on power business through subsidiary-Refex Energy RRL ventured into the power business in 2008. It has formed a wholly-owned subsidiary—Refex Energy Pvt Ltd for the foray. It is a strong player in solar photovoltaic (PV) power industry. In FY09, Refex Energy set up a 50 MW solar PV power plant in Gujarat and also signed a Memorandum of Understanding (MOU) with energy and petrochemicals department of Gujarat. In FY10, Refex Energy added a 5 MW solar power plant, under the Jawaharlal Nehru National Solar Mission (JNNSM) by NTPC Vidyut Vyapar Nigam Ltd and is expected to be operational by July 2012.
KEY RISKS:
• Largely dependent on foreign countries for supply of raw materials.
• Increase in raw material cost, adverse foreign exchange fluctuations.
• Changes in the regulatory framework pertaining to manufacturing and importing of refrigerant gases.

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