Indore-based Rock Hard Petrochemical Industries Ltd has entered into a MOU with Swastik Export Mumbai, during the Month of July, for purchase of Jewellery, Gems and other Precious Stones valued at Rs 1.92 billion.

The Company has advanced Rs 35 million towards the refundable earnest money.

Rock Hard Petrochemical Industries Ltd. engages in manufacturing and supplying of petrochemicals and other organic chemical products.

The company said that as per the terms, the entire payment has to be made within a period of 12 months from date of agreement.

The scrip of the company gained 5 per cent to Rs 6.96 at the close of Friday's trading with over 19,000 shares changing hands on the BSE.