Rajesh Exports jumps after securing export order

Rajesh Exports surged 4.45% to Rs 170.10 at 13:39 IST on BSE after the company bagged an export order worth Rs 1350 crore of designer range of gold and diamond studded jewellery and medallions from Al Sultan Jewellery, UAE.

The announcement was made during market hours today, 24 November 2014.

Meanwhile, the S&P BSE Sensex was up 128.66 points or 0.45% at 28,463.29

On BSE, so far 1.47 lakh shares were traded in the counter as against average daily volume of 64,467 shares in the past one quarter.

The stock hit a high of Rs 174.65 and a low of Rs 163 so far during the day. The stock had hit a 52-week high of Rs 202.15 on 24 June 2014. The stock had hit a 52-week low of Rs 69.35 on 20 December 2013.

The stock had outperformed the market over the past one month till 21 November 2014, rising 27.83% compared with the Sensex's 6.62% rise. The scrip also outperformed the market in past one quarter, gaining 8.6% as against Sensex's 7.49% rise.

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

Rajesh Exports said that the company has bagged an export order worth Rs 1350 crore of designer range of gold and diamond studded jewellery and medallions from Al Sultan Jewellery, UAE. The order is to be completed by 28 February 2015 and execution of this order will significantly add to the bottom line of the company, Rajesh Exports said. The order will be executed at the company's manufacturing facility at Bangalore

On a consolidated basis, Rajesh Exports reported 59% rise in net profit to Rs 159.77 crore on 70.2% rise in net sales to Rs 10959.43 crore in Q2 September 2014 over Q2 September 2013.

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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