Rolex Rings Limited signs MOU with Gujarat govt for Textile & Apparel Park (T&A)

23 December 2021, Mumbai:

Rolex Rings rose 3.07% to Rs 1127.40 after the company said that it will develop Textile & Apparel Park, IT Park, and Toy Park at Gondal district in Gujarat. As a part of promotional activity for vibrant Gujarat Summit 2022, Rolex Rings has entered into the Memorandum of Understanding (MoU) with the Government of Gujarat for the development of Textile & Apparel Park, IT Park, and Toy Park at Gondal district in the region with proposed investment of Rs 1500 crore.

Net profit of Rolex Rings rose 15.51% to Rs 32.69 crore on 70.74% rise in net sales to Rs 258.49 crore in Q2 September 2021 over Q2 September 2020. Rolex Rings is among the leading manufacturers of forged and machined components in India. It makes transmission components, engine components, chassis components, exhaust system components and bearing rings.

BUSINESS STANDARD (The news article has not been edited by DFU Publications staff)

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