Shares of gold refiner Rajesh Exports climbed over 2% in early trade on Wednesday after the company reported its Q1 earnings.
The company has reported 49.61% fall in consolidated net profit at Rs 152.13 crore for the quarter ended June 30, 2020 against net profit of Rs 301.94 crore in the corresponding period a year ago.
Rajesh Exports stock earlier opened at Rs 468.50 and touched an intraday high of Rs 470, rising 2.19% against its last close of Rs 459.95. Although later, the stock erased early gains and traded 1% lower at Rs 455.35. On Tuesday, shares of Rajesh Exports closed 0.01 per cent lower at Rs 459.90 apiece on BSE.
The stock has fallen after 4 days of consecutive gain and currently trades 3.61% away from 52 week low of Rs 441.
Rajesh Exports stock price trades higher than 5-day moving averages but lower than 20, 50, 100 and 200-day moving averages. The stock has fallen 31% since the beginning of the year.
Market capitalisation of the firm stood at Rs 13,494 crore as of today's session.
Its total income from operations in the quarter under review stood at Rs 46,054.55 crore, up 13.37 per cent against Rs 40,622.52 crore in the first quarter of the previous fiscal.
Total expenses during the quarter stood at Rs 45,886.96 crore, up 13.84 per cent, against Rs 40,306.60 crore reported in the corresponding period a year ago.Rupee trades flat at Rs 73.64 per dollar ahead of US Fed meet outcome