Rolex Rings Shares Rise 26% In Two Days Before Buyback Discussion

Shares of Rolex Rings Ltd hit a fresh 52-week high on Wednesday as traders piled in ahead of a board meeting, where the company is set to consider its first-ever share buyback proposal.

The Rolex Rings shares touched an intraday high of ₹176.00 on the Bombay Stock Exchange (BSE) on Wednesday, taking the six-session gain to 35%. The stock is up 26% since the buyback announcement on 20 April. By 11:54 AM, shares had eased slightly to ₹163, but the broader momentum remained intact.

What Triggered The Move?

Rolex Rings informed the BSE after market hours on 20 April that its board would meet on 23 April to consider a proposal for the buyback of fully paid-up equity shares under the SEBI (Buy-Back of Securities) Regulations, 2018.

This would be the company's first buyback since listing, making it a significant corporate event for a stock that had been trading well off its highs.

The company has taken just one corporate action so far. It went for a stock split in October last year. It split one equity share of ₹10 into 10 shares of ₹1 each.

About The Company

Rolex Rings manufactures forged and machined bearing rings and automotive components, supplying to global customers across the automotive and industrial sectors.

The company gets most of its revenue from auto components. This segment brings in around 52%. The rest comes from bearing rings.

Rolex Rings also earns a good share from outside India. About 47% of its revenue comes from exports.

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Recent Financial Performance

The company's Q3 FY26 numbers showed a strong recovery. Profit after tax more than doubled to ₹47.8 crore from ₹20.2 crore in Q3 FY25, driven by higher other income and lower raw material costs. Other income jumped sharply to ₹17.4 crore from ₹3.9 crore a year earlier. Revenue from operations grew 5.7% YoY to ₹274.80 crore from ₹259.9 crore.

Source:

The Economic Times