LIC acquires over 59.77 lakh equity shares of Rajesh Exports
Rajesh Exports share rose over 6% today after Life Insurance Corporation of India bought over 59.77 lakh equity shares in the company.
On April 7, Rajesh Exports has secured an order worth Rs 745 crore from Germany.
This order, which is 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% 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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