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Rajesh Exports bags Rs 1,122-crore shipment order; shares up over 3%

GOLD

Jewellery firm Rajesh Exports on Monday said it has bagged an export order worth Rs 1,122 crore for gold and diamond studded jewellery and medallions from the UAE.

The order is to be completed by March 31 next year and it will be executed at the company’s manufacturing facility at Bengaluru.

At 1330 hours, the shares of the company were trading up 3.42%, or Rs 23.25 at Rs 702.55 per piece on BSE.

“Rajesh Exports has bagged an export order worth Rs 1,122 crore of designer range of gold and diamond studded jewellery and medallions from the UAE,” the company said in a BSE filing.

Last month, the firm had won an export order worth Rs 1,360 crore from the UAE for gold and diamond studded jewellery.

In July, Rajesh Exports had acquired Switzerland-based gold refinery Valcambi for $400 million in an all-cash deal to tap European and North American markets.

The firm has also developed a range of designer jewellery suitable for the European and North American markets. Rajesh Exports also sells jewellery under the brand Shubh Jewellers and has 80 showrooms across the country.

PTI