Rajesh Exports jumps after a retail brand posts record sales during Akshaya Tritiya

Rajesh Exports jumped 8.77% to Rs 216.45 at 11:30 IST on BSE after its retail brand Shubh Jewellers posted record retail sales during Akshaya Tritiya.

The announcement was made during market hours today, 22 April 2015.

Meanwhile, the BSE Sensex was up 95.58 points, or 0.35%, to 27,771.62.

On BSE, so far 1.41 lakh shares were traded in the counter, compared with an average volume of 1.23 lakh shares in the past one quarter.

The stock hit a high of Rs 224.25, also a record high for the stock. The stock hit a low of Rs 199.20 so far during the day. The stock had hit a 52-week low of Rs 111 on 22 April 2014.

The stock had underperformed the market over the past one month till 21 April 2015, falling 9.11% compared with 2.07% fall in the Sensex. The scrip had however outperformed the market in past one quarter, gaining 22.5% as against Sensex's 4.2% decline.

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

Rajesh Exports said during the festive day of Akshaya Tritiya on 21 April 2015, the 83 retail stores of Shubh Jewellers spread over a retail area of about 55700 square feet posted record sales. Shubh Jewellers had introduced several new designs for the special occasion and most of these new designs were the preferred choice of the retail customers, along with the design the unique 'no making charges, no wastage' concept of Shubh Jewellers also made Shubh a preferred choice for the retail customers over other jewellers.

Akshaya Tritiya is considered as an auspicious time to buy gold in India.

Rajesh Exports' consolidated net profit rose 86.8% to Rs 171.26 crore on 147.5% rise in total income to Rs 12432.43 crore in Q3 December 2014 over Q3 December 2013.

Powered by Capital Market - Live News