Rajesh Exports gains on bargain hunting

Rajesh Exports advanced 4.47% to Rs 405.60 at 13:37 IST on BSE, on bargain hunting after sliding 15.91% in preceding three trading days.

Meanwhile, the S&P BSE Sensex was up 429.83 points or 1.66% at 26,393.80

On BSE, so far 2.19 lakh shares were traded in the counter as against average daily volume of 3.92 lakh shares in the past one quarter.

The stock hit a high of Rs 435 and a low of Rs 389 so far during the day. The stock had hit a record high of Rs 622.25 on 19 August 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 16 September 2015, sliding 32.05% compared with 7.49% fall in the Sensex. The scrip, however, outperformed the market in past one quarter, rising 61.94% as against Sensex's 2.71% decline.

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

Shares of Rajesh Exports had dropped 15.91% in three trading days to Rs 388.25 on 16 September 2015 from a recent high of Rs 461.75 on 11 September 2015.

On consolidated basis, Rajesh Exports' net profit rose 100.4% to Rs 237.16 crore on 91.6% growth in net sales to Rs 15144.26 crore in Q1 June 2015 over Q1 June 2014.

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

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