Large export order boosts Rajesh Exports

Rajesh Exports rose 2.87% to Rs 234.60 at 14:52 IST on BSE after the company said it has bagged an export order worth Rs 1302 crore of designer range of gold and diamond studded jewellery and medallions from A1 Jameelat Jewellery, UAE.

The company announced the export order during market hours today, 9 June 2015.

Meanwhile, the S&P BSE Sensex was down 62.49 points or 0.24% at 26,460.60.

On BSE, so far 2.17 lakh shares were traded in the counter as against average daily volume of 1.61 lakh shares in the past one quarter.

The stock hit a high of Rs 238.30 and a low of Rs 226.60 so far during the day. The stock had hit a record high of Rs 252.70 on 8 May 2015. The stock had hit a 52-week low of Rs 117.35 on 16 October 2014.

The stock had underperformed the market over the past one month till 8 June 2015, falling 6.06% compared with Sensex's 2.15% fall. The scrip had, however, outperformed the market in past one quarter, surging 37.5% as against Sensex's 9.94% fall.

The mid-cap jewellery maker has equity capital of Rs 29.53 crore. Face value per share is Re 1.

Rajesh Exports said that the latest order is to be completed by 30 September 2015. Execution of this order will significantly add to the bottom line of the company, Rajesh Exports said.

On consolidated basis, Rajesh Exports' net profit rose 246.4% to Rs 205.57 crore on 56.7% growth in net sales to Rs 19165.99 crore in Q4 March 2015 over Q4 March 2014.

Rajesh Exports manufactures gold jewellery. The company exports its products worldwide and distributes them within India to the wholesale jewellery market.

Powered by Capital Market - Live News