Market News
2 min read | Updated on August 28, 2024, 10:06 IST
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.
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Rolex Rings is one of India's leading manufacturers of forged and machined components.
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.
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.
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.
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.
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