Rajesh Exports soars on Kuwait order

DALAL STREET SPIKES

In a subdued market, Rajesh Exports ended higher on winning an overseas order. The stock hit an intra-day all-time high of Rs 704 before closing at Rs 683.70, up 0.88 per cent from its previous close.

More than 19 thousand shares changed hands at the counter on BSE alone. The company announced that it has received an export order of Rs 126 crore from Lazorde Jewellery, Kuwait, for the export of 22 carat designer jewellery.

As per the terms of the contract, the order has to be executed over a period of four months from April 7, 2005. The company has a strong presence in the Middle East markets and the company's strategy of focusing on high value orders is gaining traction.

This order will be executed at the company's manufacturing facility at Bangalore, which is the world's largest jewellery manufacturing facility spread over 12 acres of land with a built up area of 5,00,000 sq ft. The manufacturing facility has an installed capacity of 250 tonnes per annum.