Rajesh Exports inches up after securing new order

Rajesh Exports rose 0.05% to Rs 558.60 at 13:24 IST on BSE after the company said it has secured an export order worth Rs 1053 crore of designer range of gold and diamond studded jewellery and medallions from UAE.

The announcement was made during market hours today, 24 May 2016.

Meanwhile, the S&P BSE Sensex was up 58.92 points or 0.23% at 25,289.28.

On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 81,804 shares in the past one quarter. The stock was highly volatile. The stock rose as much as 1.91% at the day's high of Rs 569 so far during the day. The stock lost as much as 1.64% at the day's low of Rs 549.10 so far during the day. The stock had hit a record high of Rs 745.50 on 18 February 2016. The stock had hit a 52-week low of Rs 218.10 on 6 June 2015. The stock had underperformed the market over the past one month till 23 May 2016, sliding 2.54% compared with Sensex's 2.35% fall. The scrip had also underperformed the market in past one quarter, declining 21.52% as against Sensex's 7.78% rise. The large-cap company has equity capital of Rs 29.53 crore. Face value per share is Rs 1.

Rajesh Exports said that the latest order is to be completed by 31 August 2016.

Rajesh Exports' consolidated net profit rose 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 is a global leader in the gold business. The company has presence across the entire value chain of gold from refining to retailing.

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