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The latest announcement is out from Rolex Rings Limited ( (IN:ROLEXRINGS) ).
Rolex Rings Limited has initiated a postal ballot process, conducted exclusively through remote e-voting, to seek shareholder approval on a series of governance and compensation decisions. The resolutions include proposed revisions to the remuneration packages of Chairman and Managing Director Manesh Dayashankar Madeka and Whole-time Directors Bhautik Dayashankar Madeka and Mihir Rupeshkumar Madeka, all classified as special resolutions, reflecting a planned reset of top management pay structures. In addition, shareholders are being asked to approve the reclassification of certain persons in the promoter group from ‘promoter group’ shareholders to ‘public’ shareholders, an ordinary resolution that could alter the company’s shareholding pattern and free float, with potential implications for governance dynamics and market perception of the stock.
More about Rolex Rings Limited
Rolex Rings Limited is an Indian manufacturer in the metalworking and engineering sector, operating from Rajkot, Gujarat. The company is listed on both BSE and NSE and focuses on producing rings and related components for industrial applications, serving automotive and other engineering markets in India and abroad.
Average Trading Volume: 162,191
Technical Sentiment Signal: Sell
Current Market Cap: 32.87B INR
For an in-depth examination of ROLEXRINGS stock, go to TipRanks’ Overview page.