Rajesh Exports increased by 4% of Shares after bagging Rs 1,122 crore export order
Rajesh Exports will be shipping gold and diamond studded jewellery and medallions to the UAE worth Rs 1,122 crore, under a recent export order that the Indian jewellery expert received from the Arabian Peninsula Nation. As a result of that, the shares of Rajesh Exports increased by 4%.
The stock hit an intraday high of Rs 709.40 as a result of 4.23% increment on Bombay Stock Exchange (BSE). Meanwhile, shares of Rajesh Exports, the largest manufacturer of gold products in the world, thus far in 2015, has appreciated by 396% from Rs 142.
The leading gold manufacturer and marketer, Rajesh Exports is expected to complete the order by March 31, 2016 and the jewellery will be manufactured at its Bengaluru based facility centre of the Rajesh Exports.
“Rajesh Exports has bagged an export order worth Rs 1,122 crore of designer range of gold and diamond studded jewellery and medallions from the UAE,” the company said in a BSE filing.
Last month, the firm had won an export order worth Rs 1,360 crore from the UAE for gold and diamond studded jewellery.
In July, Rajesh Exports had acquired Switzerland-based gold refinery Valcambi for $400 million in an all-cash deal to tap European and North American markets.
The firm has also developed a range of designer jewellery suitable for the European and North American markets. Rajesh Exports also sells jewellery under the brand Shubh Jewellers and has 80 showrooms across the country.