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  5. Rolex Rings shares jump over 3% as SBI Mutual Fund, others pick up 2.9% stake; check details

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Rolex Rings shares jump over 3% as SBI Mutual Fund, others pick up 2.9% stake; check details

Upstox
By Upstox News Desk

2 min read | Updated on August 28, 2024, 10:06 IST

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SUMMARY

SBI Mutual Fund (MF), Kotak Mahindra MF, Franklin Templeton MF, and India Acorn ICAV purchased 8.09 lakh equity shares, or 2.97% stake, in Rolex Rings.

Stock list

ROLEXRINGS
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machining-main.webp

Rolex Rings is one of India's leading manufacturers of forged and machined components.

Shares of forged and precision-machined components maker Rolex Rings jumped on Wednesday, August 28, after State Bank of India (SBI) Mutual Fund and three others picked up a 2.97% stake for ₹196.16 crore via open market transactions.

In the early trade, the stock was trading 3.5% higher at ₹2,522.9 apiece on the National Stock Exchange (NSE).

Its market capitalisation stands at ₹6,870.8 crore.

SBI Mutual Fund, 3 others pick up 2.9% stake in Rolex Rings

According to the bulk deal data on the BSE, SBI Mutual Fund (MF), Kotak Mahindra MF, Franklin Templeton MF, and India Acorn ICAV purchased 8.09 lakh equity shares, or 2.97% stake, in Rolex Rings.

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The shares were brought at a price range of ₹2,421.08-₹2,425 a unit, taking the transaction size to ₹196.14 crore.

Meanwhile, ICICI Prudential MF and two promoters cumulatively divested a 3.61% stake, or 7.65 lakh shares, in Rolex Rings for ₹185.44 crore through open market transactions.

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ICICI Prudential MF and Rolex Rings promoters Ashok Dayashankar Madeka and Sanjay Bhagvanji Bole sold the shares in the price range of ₹2,419-₹2,425 apiece, as per the data.

The Gujarat-based Rolex Rings is one of India's leading manufacturers of forged and machined components.

With PTI inputs
Uplearn

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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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