This multibagger smallcap announces stock split; stock gains nearly 5%

's on Monday said that its board approved a stock split of the company's equity shares in the ratio of 10:1.

"Board of Directors at its meeting held today i.e. September 19, 2022, has approved the sub-division of each existing equity share of the company having face value of Rs 10 each fully paid up into 10 equity shares of the face value of Re 1 each, subject to regulatory/statutory approvals as may be required and the approval of the shareholders of the Company”, said the company in an exchange filing.

Following the announcement, the metal counter rallied up to 5 per cent to the day’s high of Rs 259 per share on the NSE.

Arfin India trades in the ‘X’ group category of stocks. The company on a YTD basis has yielded multibagger returns to the tune of 104 per cent. Also, it's one and three-year returns stand at 282 and 272 per cent, respectively.

Arfin India is a smallcap counter with a market capitalization of Rs 393.5 crore. The company, founded in the year 1992, is a prominent player in the aluminum recycling and ferro alloys segment.