Rajesh Exports scales record high after mulling European acquisition

Rajesh Exports rose 2.89% to Rs 272.75 at 11:31 IST on BSE after the company scheduled a board meeting on 2 July 2015, to mull an acquisition in Europe, in the same line of business.

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

Meanwhile, the S&P BSE Sensex was up 262.15 points or 0.96% at 27,578.32

On BSE, so far 1.21 lakh shares were traded in the counter as against average daily volume of 1.60 lakh shares in the past one quarter.

The stock hit a record high of Rs 274.70 in intraday trade today, 22 June 2015. The stock hit a low of Rs 263.50 so far during the day. The stock had hit a 52-week low of Rs 117.35 on 16 October 2014.

The stock had outperformed the market over the past one month till 19 June 2015, rising 13.17% compared with 1.19% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 25.7% as against Sensex's 4.05% fall.

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

On consolidated basis, Rajesh Exports' net profit rose 246.4% to Rs 205.57 crore on 56.7% growth in net sales to Rs 19165.99 crore in Q4 March 2015 over Q4 March 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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