Shares of Arfin India zoomed over 11% today after the firm said it has bagged purchase order from Saudi Basic Industries Corporation (SABIC), Saudi Arabia. The company will supply 18,000 MT of aluminium deox, and the value of this contract is approximately Rs 350 crore ($39.97 million). The supply of the order is to be completed in four years.
Arfin India stock climbed 11.39 per cent intraday to Rs 28.35 against the previous close of Rs 25.45 on BSE today. Arfin India shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
Stock of Arfin India has gained 226.65 per cent in a year and risen 118.52 per cent in 2022. Total 3.17 lakh shares of the firm changed hands amounting to a turnover of Rs 86.50 lakh on BSE. Market cap of the firm climbed to Rs 427.51 crore on BSE today.
Later, the stock closed 5.70% higher at Rs 26.90 on BSE. Arfin India shares hit a 52-week high of Rs 31.40 on September 13, 2022 and a 52-week low of Rs 7.42 on December 20, 2021.
Arfin India is engaged in the business of manufacturing, trading and selling of various non-ferrous metal products. The company’s principal product is aluminum. Its products include aluminum deox, aluminum alloy ingots, aluminum drawn wire, aluminum wire rods, aluminum automobile components, aluminum wire mill, and conductor and cables.
Also Read: UTI AMC, Tata Investment deny report of Tata group buying majority stake in AMC. Full details