Arfin India Stock Surges, The Board Approves 1:10 Ratio Stock Split

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

Arfin India Ltd, a leading metal company, is engaged in selling, manufacturing, and trading non-ferrous metal in the investors' eyes. The stock is surging positively in the recent trading sessions, and just recently, at the board meeting of the officials on September 19, 2022, the board of the company approved a stock split of a 1:10 ratio.

In the latest announcement to the exchanges the company mentioned, "In terms of the provisions of Regulation 30 (read with Part A of Schedule III) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, this is to inform that Board of Directors at its meeting held today i.e. September 19, 2022 at 9:45 a.m. has approved following;
1. Appointment of Ms. Hetal Koradia (Membership No. A56454) as Company Secretary and Compliance Officer of the Company with effect from Monday, September 19, 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. Brief profile of Ms. Hetal Koradia is attached below as Annexure - 2.
2. Sub-division of each existing equity share of the Company having face value of '{' 10/ - (Rupees Ten Only) each fully paid up into 10 (Ten) equity shares of face value of '{' 1/- (Rupees One Only) each, subject to regulatory/ statutory approvals as may be required and the approval of the shareholders of the Company.
3. Consequential amendments to the Capital Clause of the Memorandum of Association of the Company, subject to approval of the shareholders to be obtained by Postal Ballot.
The record date for the Sub-division of equity shares shall be decided by the Board and will be intimated to the stock exchange."