Arfin India Shares Rise, Board Approves 1:10 Stock Split

Company

oi-Jalaj Jain

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Indian markets have very strong bullish momentum and there are few signs of a trend reversal. Many sectors are at their all-time highs and have given a strong trend reversal after a downtrend.
Earlier this year, metal stocks fell sharply and the sector hit its 52-week low. However, after a sharp fall, the stock showed a quick recovery and is in a very strong uptrend.

Arfin India Ltd, a leading metallurgical company, is engaged in the sale, manufacture and trading of non-ferrous metals in the eyes of investors. The stock has surged positively in recent trading sessions, and most recently, at the September 19, 2022 board meeting, the company’s board of directors approved a stock split of a ratio of 1:10.

In the latest stock exchange announcement, the company mentioned: “Under the provisions of Regulation 30 (read together with Part A of Schedule III) of the SEBI (Registration and Disclosure Requirements) Regulations, 2015, as modified, it is to inform that the Board of Directors in its meeting held today, September 19, 2022 at 9:45 a.m. has approved the following;
1. Appointment of Ms Hetal Koradia (Member No A56454) as Company Secretary and Chief Compliance Officer with effect from Monday 19 September 2022 pursuant to Section 203 of the Companies Act 2013 and Regulation 6(1) of the Securities and Exchange Board of India (Listing Obligation & Disclosure Requirements) Regulations, 2015. A brief profile of Mrs. Hetal Koradia is attached below as Appendix – 2.
2. Subdivision of each existing capital share of the Company having a par value of ‘{‘ 10/ – (ten rupees only) each fully paid up into 10 (ten) capital shares having a par value of ‘{‘ 1/ – (Rupees One Only) each, subject to required regulatory/statutory approvals and approval by the shareholders of the Company.
3. Consequential amendments to the capital clause of the company’s articles of association, subject to shareholder approval to be obtained by postal ballot.
The record date for the Capital Share Division will be decided by the Board and will be communicated to the stock exchange.”

Sallie R. Loera