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 under this contract, which is worth approximately Rs 350 crore ($39.97 million). The order’s supply is expected 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 above their five-day, twenty-day, fifty-day, hundred-day, and two-hundred-day moving averages.
Arfin India’s stock has risen 226.65 percent in a year and will rise 118.52 percent in 2022. On the BSE, 3.17 lakh shares of the company changed hands, resulting in a turnover of Rs 86.50 lakh. On the BSE today, the company’s market capitalization increased to Rs 427.51 crore. Later, the stock closed 5.70% higher on the BSE at Rs 26.90. On September 13, 2022, Arfin India shares reached a 52-week high of Rs 31.40 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.