Rajesh Exports share rises 9% after firm wins Rs 745-crore order from Germany

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Rajesh Exports share rose over 9% today after the firm said it received an order worth Rs 745 crore from Germany. Share of the gold refiner touched an intraday high of Rs 524.4, rising 9.23% against previous close of Rs 480.10 on BSE. The share has gained after 3 days of consecutive fall. The stock opened with a gain of 2% at Rs 489.70 on BSE.

Rajesh Exports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. The share has lost 17.16% in one year and risen 4.78% since the beginning of this year. Market cap of the firm rose to Rs 15,142 crore.

The company said the order, which has to be completed by July this year, will be executed from its own manufacturing facilities. These facilities have a processing capacity of 250 tonne of jewellery and gold products per annum, and the company is confident of executing this order well within the time frame, it said.

The Bengaluru-headquartered company has a global manufacturing and marketing network with distribution through exports, wholesale and directly to consumers by its own retail brand. The company refines over 35 per cent of the world’s gold. Its refineries are located in Uttarakhand and at Balerna in Switzerland. It has a capacity to refine 2,400 tonne of gold per annum.

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