Shares of Rajesh Exports today rose to a record high on gold, earnings optimism.
The shares jumped as much as 8.9 per cent to mark an all-time high of Rs 593.9 rupees per share. The stock is up 313.2 per cent YTD.
Gold gained for a fifth session in a row on Wednesday to trade near a three-week high, benefiting from weaker equities after China’s devaluation of the yuan.
Optimism is also seen ahead of its quarterly results on Thursday.
The company had earlier bought world’s largest gold refiner Valcambi for $400 million.
India’s jewellery exports are likely to quintuple to $40 billion if the controls are tightened.