Rajesh Exports spurts after securing export order

Rajesh Exports surged 14.49% to Rs 162.40 at 11:55 IST on BSE after the company bagged an export order worth Rs 1780 crore of designer range of gold and diamond studded jewellery and medallions from Jamcelat Jewellery, UAE.

The announcement was made during market hours today, 19 January 2015.

Meanwhile, the S&P BSE Sensex was up 133.28 points or 0.47% at 28,254.28

On BSE, so far 2.83 lakh shares were traded in the counter as against average daily volume of 69,693 shares in the past one quarter.

The stock hit a high of Rs 165 and a low of Rs 142 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 74.65 on 20 March 2014.

The stock had underperformed the market over the past one month till 16 January 2015, falling 3.24% compared with Sensex's 5.01% rise. The scrip, however, outperformed the market in past one quarter, surging 17.82% as against Sensex's 8.16% 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 export order is to be completed by 31 March 2015. The order will be executed at the company's manufacturing facility at Bangalore. The execution of this order will significantly add to the bottom line of the company, Rajesh Exports said.

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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