RAJESH EXPORTS SPARKLES ON BONUS, SHARE SPLIT PLANS

Rajesh Exports surged 4.03% to Rs 966.90 at 15:17 IST on its plans to consider bonus issue and stock split.
On BSE 4.46 lakh shares were traded in the counter. The scrip had an average daily volume of 1 lakh shares in the past one quarter.
Shares of Bangalore-based mid-cap jewellery making and retailing firm had hit a high of Rs 975, a record high for the scrip. It hit a low of Rs 929.15 so far during the day. The stock had touched a 52 week low of Rs 185 on 26 September 2006.
Rajesh Exports had outperformed the market over the last one month till 26 September 2007, rising 73.31% compared to the Sensex’s return of 13.42%. It had also outperformed the market rising 75.49% compared to Sensex’s rise of 16.66% in the past one quarter.
From a recent low of Rs 779.05 on 18 September 2007 the scrip rose 19.29% to Rs 929.40 on 26 September 2007.
The company’s current equity is Rs 7.39 crore. Face value per share is Rs 2.
The current price of Rs 966.90 discounts Q1 June 2007 annualised EPS of Rs 45.62 by a PE multiple of 21.19.
Rajesh Exports announced during the market hours today, 27 September 2007 that a meeting of the board of directors of the company will be held on 22 October 2007 to consider the issue of bonus shares and splitting of existing equity shares of Rs 2 each to equity share of Rs 1 each.
Rajesh Exports net profit rose 125.7% to Rs 42.14 crore on 34.3% rise in sales to Rs 2030.24 crore in Q1 June 2007 over Q1 June 2006.
Rajesh Exports manufactures and sells gold jewellery. It imports raw gold from mines across the world. The jewellery manufactured is exported across the world, and distributed all over the country