Rolex Rings’ 2% equity change hands

27 Aug 2024 , 02:41 PM

On Tuesday, August 27, 5.2 lakh shares, or 2% equity of Rolex Rings, traded at ₹2,519 per share in a block deal window valued ₹126 Crore.

The transaction’s formal buyers and sellers have yet to be determined. The corporation will hold its annual general meeting on September 5, 2024.

In September of last year, the company’s CFO, Hiren Dilipbhai Doshi, claimed that he expected the EV parts segment’s percentage of total revenue to nearly double to 15-20% by 2025.

Rolex Rings is a Gujarat-based maker of forged and precision machined components. It is an ace development partner that produces high-quality, world-class, customised automotive components and bearing rings for a global clientele. Over four decades of experience in precision engineering of various forging and machining processes. Rolex has extensive experience manufacturing gearbox, engine, chassis and exhaust system components, as well as bearing rings.

In Q1 2024-2025, Rolex Rings Ltd’s revenue increased by 0.75% compared to the same time last year, reaching ₹316.03 Crore. Rolex Rings Ltd’s quarterly revenue has decreased by -1.44% over the last three months.

At around 10.46 AM, Rolex Rings was trading 1.33% higher at ₹2,475 per piece, against the previous close of ₹2,442.40 on NSE. The counter touched an intraday high and low of ₹2,489.80, and ₹2,399.65, respectively.

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