Rajesh Exports sees Sept-qtr profit up 25-30 pc

Jewellery maker Rajesh Exports Ltd expects its net profit for the quarter ending Sept. 30 to rise 25-30 percent, helped by the easing of gold import rules by the central bank, its chairman said on Thursday.

Shares of jewellery companies such as Titan Co Ltd and Rajesh Exports surged on Thursday, after the Reserve Bank of India expanded the number of private agencies that can import the precious metal.

"This will have good positive impact in terms of our profitability and revenues. We expect the impact to come from next quarter onwards," chairman Rajesh Mehta told Reuters in an interview.

Shares of Rajesh Exports ended up 13.2 percent on Thursday, while the BSE Sensex rose 0.3 percent.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Changes to FDI investment norms for housing look cosmetic

    The policy measures announced on Wednesday for facilitating greater participation of foreign direct investment (FDI) in the real estate sector do not

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Energy conservation through feedback

In households across the world, people use electric energy not ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture