Rajesh Exports To Form Subsidiary In Europe

NEW DELHI:   To expand its global footprint, jewellery maker Rajesh Exports said its board has given the nod to form a subsidiary in Europe.

“Board of birectors have given the approval to form a subsidiary in Europe to expand the global footprint of the company,” Rajesh Exports said in a BSE filing.

The board has also authorised the company’s Chairman Rajesh Mehta to carry out all the required formalities in this regard.

Rajesh Exports has a manufacturing facility in Bengaluru with an installed capacity to process 250 tonnes of jewellery per annum.

The company sells its products through its retail brand Shubh Jewellery.

The company’s scrip was trading at Rs 241.60 apiece, up 3.62 per cent, on the BSE.

Rajesh Exports stock price On May 04, 2015, at 15:32 hrs Rajesh Exports was quoting at Rs 241.30, up Rs 8.15, or 3.50 percent. The 52-week high of the share was Rs 247.55 and the 52-week low was Rs 112.30. The company's trailing 12-month (TTM) EPS was at Rs 10.85 per share as per the quarter ended December 2014. The stock's price-to-earnings (P/E) ratio was 22.24. The latest book value of the company is Rs 88.47 per share. At current value, the price-to-book value of the company is 2.73.

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