Rajesh Exports firms up after winning export order

Rajesh Exports rose 1.37% to Rs 621.50 at 13:57 IST on BSE after the company said it procured export order worth Rs 1079 crore.

Meanwhile, the S&P BSE Sensex was down 14.62 points, or 0.04% to 37,737.55.

On the BSE, 50,000 shares were traded in the counter so far compared with average daily volumes of 42,000 shares in the past two weeks. The stock had hit a high of Rs 627.70 and a low of Rs 617 so far during the day. The stock hit a 52-week high of Rs 800.05 on 16 March 2018. The stock hit a 52-week low of Rs 544 on 16 October 2018.

Rajesh Exports said the order has been procured beating global competition from a leading wholesaler and stockist of Middle East for further distribution to the global markets. The order is to be completed by June 2019.

On a consolidated basis, net profit of Rajesh Exports rose 4.79% to Rs 315.97 crore on 6.57% rise in net sales to Rs 44017.21 crore in Q3 December 2018 over Q3 December 2017.

Rajesh Exports has presence across the value chain of gold from mining till its own retail brand.

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