BSE seen Charitable In Raising M Cap By 10x

BSE is showing M Cap of Agarwal Industrial Corpopration Ltd, (BSE Code 531921 BSE -AGARIND), at Rs.5,704 crres, which infact is at Rs. 570 crore. So, why this goof up, as FV and number of issued shares, fed in programme, is calculating m cap by multiplying it with market price on real time.

On 20-10-21, company had 132.09 lakh issued equity shares of Rs. 10 each, with closing share price at Rs. 381, which results in M cap of Rs. 503 cr. Even if we add 17.49 lakh issued warrants, to be converted in equal number of shares, will see issued equity shares rising to 149.58 lakh shares, which implies m cap of Rs. 570 crores.

So, why BSE is seen charitable in showing 10 times higher M cap?

This vitiates investment decision, as stock actually in micro cap, is shown as small or mid cap? 

This is not a Buy recommendation, while stock recommendations are provided exclusively to our paid members in the Member Zone.