New Delhi: SBI Mutual Fund and three other companies acquired a 2.97 percent share in Rolex Rings, a Gujarat-based company, for Rs 196.14 crore via open market deals. Per the information from the BSE's bulk deal data, SBI Mutual Fund (MF), India Acorn ICAV, Kotak Mahindra MF, and Franklin Templeton MF collectively bought 8.09 lakh shares, equivalent to a 2.97 per cent ownership, in Rolex Rings.
The stocks were bought for a price varying from Rs 2,421.08 to Rs 2,425 each, resulting in a total deal amount of Rs 196.14 crore. At the same time, ICICI Prudential MF and two promoters collectively sold a 3.61 pc stake, equivalent to 7.65 lakh shares, in Rolex Rings for Rs 185.44 crore through open market deals.
According to the data, ICICI Prudential MF, as well as the promoters of Rolex Rings, Ashok Dayashankar Madeka and Sanjay Bhagvanji Bole, sold shares in the price range of Rs 2,419-2,425 per piece. The identities of the other Rolex Ring sellers could not be determined. Rolex Rings' shares closed 0.47 pc down at Rs 2,434.35 each on the BSE. Rolex Rings, based in Gujarat, is one of the top producers of forged and machined parts in India
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