Rajesh Exports tumbles as board to consider and discuss certain business propositions

Rajesh Exports lost 10.25% to Rs 582 at 12:48 IST on BSE after the company scheduled a board meeting on 21 March 2016 to consider and discuss certain business propositions.

The company will also consider declaration of interim dividend for the year ending 31 March 2016 in its board meeting scheduled to be held on 21 March 2016. The announcement was made before market hours today, 16 March 2016.

Meanwhile, the BSE Sensex was down 156.47 points, or 0.64%, to 24,394.70

On BSE, so far 2.59 lakh shares were traded in the counter, compared with an average volume of 82,335 shares in the past one quarter. The stock hit a high of Rs 654.70 and a low of Rs 564 so far during the day. The stock hit a record high of Rs 745.50 on 18 February 2016. The stock hit a 52-week low of Rs 181 on 10 April 2015. The stock had underperformed the market over the past one month till 15 March 2016, falling 10.32% compared with Sensex's 4.23% rise. The scrip had also underperformed the market in past one quarter, sliding 4.86% as against Sensex's 3.04% fall.

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

On consolidated basis, Rajesh Exports' net profit surged 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 manufactures gold jewellery.

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