Aug 3: Bengaluru-based gold processing firm Rajesh Exports Ltd (BEL) on Friday said that it has received a prestigious order for gold and diamond jewellery for a value of Rs 892 crore from a leading wholesaler and stockiest of Middle East for further distribution to the global markets. The order is to be completed by September 2018, according to the company.
“The company will be manufacturing the entire requirement of this order at its own manufacturing facility and is confident of delivering the required order within the time frame based on the robust manufacturing infrastructure of the company,” it said.
Commenting on the order win, Rajesh Mehta, Chairman, Rajesh Exports Ltd, said: “it is heartening to note that the new designs and range of jewellery introduced by the company in the global markets has received good response from international market. The order demonstrates the designing and the research and development capabilities of the company. This order will continue to strengthen our position in the international jewellery market.”
Shares of the company surged nearly 7% to touch a new one month-high of Rs 612.25 intraday Friday on BSE after the news came in. At 3.20 pm, the Re 1 face value shares were trading at Rs 609.25, up 6.21% from the previous closing of Rs 573.45.