Rajesh Exports gains after bagging export order

Rajesh Exports rose 2.74% to Rs 608.30 at 13:31 IST on BSE after the company said it secured an export order worth Rs 1188 crore from UAE.

The announcement was made during trading hours today, 11 April 2016.

Meanwhile, the S&P BSE Sensex was up 129.21 points or 0.52% at 24,803.05.

On BSE, so far 81,000 shares were traded in the counter as against average daily volume of 61,000 shares in the past two weeks. The stock hit a high of Rs 619 and a low of Rs 595.45 so far during the day. The stock had hit a 52-week high of Rs 745.50 on 18 February 2016. The stock had hit a 52-week low of Rs 181 on 10 April 2015.

Rajesh Exports said it bagged an export order worth Rs 1188 crore for designer range of gold and diamond-studded jewellery and medallions from UAE. The company said the order will be executed from its manufacturing facility in Bengaluru and it is to be completed by 30 June 2016.

On consolidated basis, Rajesh Exports' net profit surged 76.7% to Rs 302.69 crore on 300.7% growth in net sales to Rs 49819.13 crore in Q3 December 2015 over Q3 December 2014.

Rajesh Exports manufactures gold jewellery.

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