MUMBAI (Reuters) - Jewellery maker Rajesh Exports Ltd expects its net profit for the quarter ending Sept. 30 to rise 25-30 percent, helped by the easing of gold import rules by the central bank, its chairman said on Thursday.
Shares of jewellery companies such as Titan Co Ltd and Rajesh Exports surged on Thursday, after the Reserve Bank of India expanded the number of private agencies that can import the precious metal.
"This will have good positive impact in terms of our profitability and revenues. We expect the impact to come from next quarter onwards," chairman Rajesh Mehta told Reuters in an interview.
Shares of Rajesh Exports ended up 13.2 percent on Thursday, while the BSE Sensex rose 0.3 percent.
(Reporting by Siddesh Mayenkar; Editing by Sunil Nair)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app