Rajesh Exports bags Rs 786 cr jewellery order from UAE
The Dollar Business Bureau
Rajesh Exports, currently the largest player in gold jewellery market, on Thursday, revealed that it bagged a contract worth Rs 786 crore from UAE. The contract is inclusive of exporting gold, diamond jewellery and medallions to UAE.
In a BSE filing, the gold manufacturing company said that the export order received was of designer jewellery from UAE. The orders are to be fulfilled by October 15, 2016.
The huge order will be worked upon at Rajesh Exports headquarter in Bengaluru. The Bengaluru facility has capacity to produce 250 tonnes worth jewellery and gold items per annum.
Rajesh Exports further stated that the demand for Indian designed jewellery has been witnessing an upward trend in foreign markets.
The 1989 founded company, is the largest maker of gold jewellery across the globe. It is also one of the top gold refiners.
From mining to retail brand, Rajesh exports has its presence in the value chain of gold.
With the recent addition of Valcambi refinery, the largest gold refinery based in Switzerland, the total capacity of Rajesh Exports to refine precious metals has gone up to 2,400 tonnes per annum, said the company in the BSE filing.
Rajesh Exports has opened up 80 exclusive retail jewellery showrooms under ‘Shubh’ jewellers brand.
After the news on bagging big orders from UAE broke out, the share price of the company increased by 2.96%, closing at Rs. 462.55 per share on BSE.