A small-cap metals and mining company, Arfin India, has fixed the record date for the purpose of determining the eligibility of Shareholders for the purpose of sub-division/ split of its equity shares.
Arfin India Limited is in the business of manufacturing, trading and selling various non-ferrous metal products in the domestic and international markets.
The company informed the Bombay Stock Exchange (BSE) that it has fixed Monday, November 14, 2022, as the ‘Record Date’ for the sub-division of its fully paid-up equity shares having a face value ₹10 each, into ten fully paid-up equity shares having a face value of ₹ 1 each.
Arfin India has given multibagger returns of 272.46% in the past year, as its share price surged from ₹ 69.00 to ₹ 257.00 apiece. Therefore, if an investor would have invested ₹ 1 lakh in the shares of the company a year ago, the value of their holdings would have been ₹ 3.72 lakhs today!
Arfin India’s shares were trading at ₹ 250.65 apiece at 12:55 PM and the company has a market capitalization of ₹ 398 crores. It is trading at a price-to-equity ratio of 36.81, which is significantly higher than the sector PE of 12.79. Therefore, the stock might be overvalued.
Written by Simran Bafna
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