Rajesh Exports strengthens on receiving approval to make acquisition in Middle East

14 Jun 2016

Rajesh Exports is currently trading at Rs. 487.95, up by 9.70 points or 2.03% from its previous closing of Rs. 478.25 on the BSE.

The scrip opened at Rs. 484.00 and has touched a high and low of Rs. 495.90 and Rs. 484.00 respectively. So far 24,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 745.50 on 18-Feb-2016 and a 52 week low of Rs. 235.05 on 16-Jun-2015.

Last one week high and low of the scrip stood at Rs. 509.15 and Rs. 474.00 respectively. The current market cap of the company is Rs. 14,407.21 crore.

The promoters holding in the company stood at 53.91%, while Institutions and Non-Institutions held 20.96% and 25.13% respectively.

Rajesh Exports has received the approval to make acquisition/s in the Middle East. The acquisition has been approved to strengthen the backward integration of the company and to strengthen the domestic and global presence in the gold business.

The board of the company has authorized Rajesh Mehta, Chairman of the company to take all the necessary steps to complete the acquisition.

Rajesh Exports is engaged in the manufacturing and marketing of jewellery. It offers gold and diamond products under the brand names Laabh Jewellers and Shubh Jewellers. The firm products include earings, rings, pendents, chains, necklaces and necklaces sets, bangles and bracelets.

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