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Why Rajesh Exports share rose over 6% today

Rajesh Exports share touched an intraday high of Rs 544.65, rising 6.07%. Market cap of the firm rose to Rs 15,510 crore on BSE 

Rajesh Exports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Rajesh Exports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Rajesh Exports share rose over 6% today after Life Insurance Corporation of India bought over 59.77 lakh equity shares in the company. Market cap of the firm rose to Rs 15,510 crore on BSE. The midcap stock touched an intraday high of Rs 544.65, rising 6.07% on BSE. The share opened at Rs 523 today.  Total 0.41 lakh shares changed hands amounting to turnover of Rs 2.12 crore on BSE.

The share hit 52-week high of 548.20 on May 3, 2021 and fell to 52-week low of Rs 440.80 on October 16, 2020. Rajesh Exports share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

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The share has gained 3.18% in one year and risen 7.06% since the beginning of this year. According to BSE data, Life Insurance Corporation of India bought over 59.77 lakh equity shares (2.025 percent) of the company, raising its shareholding to 9.07 percent from 7.045 percent earlier.

 On April 7, Rajesh Exports has secured an order worth Rs 745 crore from Germany.

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.

Rajesh Exports is involved in the business of gold and gold products. The company is engaged in manufacturing and marketing jewellery to consumers across the world. The company offers gold medallions and gold bullion.

It is engaged in producing handmade jewellery, casting jewellery, machine chains, stanped jewellery, studded jewellery, tube jewellery and electro-formed jewellery.

The company sells gold and diamond jewellery in retail through its branded retail jewellery chain stores under the brand name of SHUBH Jewellers.

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.