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Shares of Rajesh Exports were trading higher by 4% at Rs 383, also their fresh record highs on the BSE, after the company said its board approved acquisition in Europe.
“The board of directors of the company at its meeting held on July 02, 2015, has approved to make acquisition/s in Europe in the range of $ 250 million to $ 500 million,” Rajesh Exports said in a BSE filing.
The acquisition has been approved to strengthen the backward integration of the company and to strengthen the domestic and global presence of the company in the gold business, the company added.
Meanwhile, in the past one month, the stock has outperformed the market by surging 73% from Rs 222 on June 3, compared to a 4.5% rise in the S&P BSE Sensex.
Till 0920 hours, a combined around 320,000 shares changed hands on the counter on the BSE and NSE.
“The board of directors of the company at its meeting held on July 02, 2015, has approved to make acquisition/s in Europe in the range of $ 250 million to $ 500 million,” Rajesh Exports said in a BSE filing.
The acquisition has been approved to strengthen the backward integration of the company and to strengthen the domestic and global presence of the company in the gold business, the company added.
Meanwhile, in the past one month, the stock has outperformed the market by surging 73% from Rs 222 on June 3, compared to a 4.5% rise in the S&P BSE Sensex.
Till 0920 hours, a combined around 320,000 shares changed hands on the counter on the BSE and NSE.
