With their gold value chain and a huge order, Rajesh Exports stock prices and retail sales might be headed for a long-term rise
As revealed by a regulatory filing from the company, Rajesh Exports bagged an order worth Rs 1,079 crore from the Middle East. Reports state that the Indian company managed to beat a considerable number oforganizations from across the globe.
The order comes after the new range of jewelry recently introduced in the market by Rajesh Exports that has managed to grab attention from the Middle East. Rajesh Exports has to meet the entire order deliverables till June 2019. “Bagging a large order amid strong global competition speaks volumes about the designing, R&D capabilities, products, prompt execution and attractive pricing of the company,” said Rajesh Mehta, Chairman of Rajesh Exports.
With anintegrated chain across all verticals of gold, Rajesh Exports will manufacture the entire order, without any outsourcing, across its three facilities in Bangalore, Cochin, and Dubai respectively. The combined refining capacity is close to 2,400 tons per annum.
Currently, Rajesh Exports is in process of completing the order worth Rs 933 crore procured by the company back in December 2018. Set to be delivered by end of the financial year, the capacity and track record of Rajesh Exports suggest that the company would have no problem in delivering this and the latest order.
On that note, Rajesh Exports stock prices shot up as soon as the news hit the market. With the third big jewelry order for the world’s largest gold processing company in approximately one year, analysts and investors have been observing the stocks under magnified vision. With a 1.37% rise in one day, NSE: RAJESH EXPO rose from Rs 591.15 to the current Rs 621.05 (as of March 15,2019)within a five-day span.
Considering the recovering gold market of India and the progress rate of companies like Rajesh Exports, stock market investors may stand a chance to reap heavy benefits as Rajesh Exports is expected to enjoy a substantial rise in the company’s current quarter earnings, financial year turnover, and, probably, the new quarter as well.