Rajesh Exports rose 2.41% to Rs 525.90 after Life Insurance Corporation of India (LIC) purchased 59.77 lakh equity shares or 2.025% stake of the company.
Post transaction, LIC has increased its shareholding in Rajesh Exports to 9.070% stake from 7.045% held earlier. The deal was executed as a market purchase between 22 October 2019 and 18 May 2021.
The company's consolidated net profit dropped 28.1% to Rs 227.64 crore on 12.3% rise in net sales to Rs 45,586.42 crore in Q3 FY21 over Q3 FY20.
Rajesh Exports is one of the largest manufacturers of gold products in the world. The company exports its products to various countries around the world and also supplies its products in wholesale market and jewellery showrooms across India.
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