 "Rajesh Exports hits new high ahead of board meet")
Shares of Rajesh Exports were trading higher by 5% to Rs 325, its record high on the BSE, ahead of a board meeting on Thursday to consider overseas acquisition plans.
On June 22, the company that manufactures both gold & diamond jewellery and exports its products globally, had announced that a meeting of the board of directors of the company will be held on July 02, 2015, to mull an acquisition in Europe in the same business field.
Since then, the stock has outperformed the market by gaining 23% from Rs 265 compared to a 1.5% rise in the S&P BSE Sensex.
Meanwhile, in the past three weeks, the stock zoomed 43% from Rs 228 after the company said it had bagged an export order worth Rs 1,302 crore from a UAE-based company for gold and diamond-studded jewellery. The benchmark index gained 4.5% during the same period.
On June 22, the company that manufactures both gold & diamond jewellery and exports its products globally, had announced that a meeting of the board of directors of the company will be held on July 02, 2015, to mull an acquisition in Europe in the same business field.
Since then, the stock has outperformed the market by gaining 23% from Rs 265 compared to a 1.5% rise in the S&P BSE Sensex.
Meanwhile, in the past three weeks, the stock zoomed 43% from Rs 228 after the company said it had bagged an export order worth Rs 1,302 crore from a UAE-based company for gold and diamond-studded jewellery. The benchmark index gained 4.5% during the same period.