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Rajesh Exports shares jump on new orders from UAE

Rajesh Exports is a zero debt company with annual sales of Rs 34,000 crore.

BT Online Bureau   New Delhi     Last Updated: June 9, 2015  | 15:47 IST
Rajesh Exports shares jump on new orders from UAE

Rajesh Exports has bagged an export order worth Rs 1,302 crore of designer range of gold and diamond studded jewellery and medallions from Al Jameelat Jewellery, UAE. Cheering the news, shares of the company jumped over 4 per cent on Tuesday.

In a filing to the Bombay Stock Exchange, the company said the order will be completed by September 30, 2015. Execution of this order will significantly add to the bottom line of the company.

Shares of Rajesh exports closed at Rs 237.50, up 4.14 per cent against its previous close. The scrip opened at Rs 227.10 and touched a high and low of Rs 239.60 and 226.60.

"This order will be executed at the company's manufacturing facility at Bangalore, which is the world's largest jewellery manufacturing facility spread over 12 acres of land with a built up area of 5,00,000 square feet. The manufacturing facility has an installed capacity to process 250 tonnes of jewellery per annum," the filing said.

Rajesh Export is confident of completing this order well within the time frame, leveraging on its expertise, skilled craftsmen & artisans and its exceptionally strong backward integration infrastructure.

The company is a zero debt company with annual sales of Rs 34,000 crore.

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