Rajkot headquartered Rolex Rings Ltd. on Monday signed an MOU with Gujarat Government to develop Textile and Apparel Park, IT Park and Toy Park at Gondal district of the state.
Important to note here is that as a part of Vibrant Gujarat Global Summit, the Government is signing many MOUs before the event.
The company has signed MOUs to invest Rs. 1500 crore. After the news break, Rolex Rings rose around 4% to Rs 1127.40.
Rolex Rings is a manufacturer of forged and machined components in India. The company makes engine components, transmission components, chassis components, exhaust system components and bearing ring.
The company got listed almost 6 months ago at a premium of 33%. The company has a market cap of Rs. 3012 crore.
