Rajesh Exports, through its recently acquired subsidiary-Valcambi, announced that it has bagged a huge order amounting to Rs 125-crore. The order would entail creating jewelry specially designed for European markets.
The order is to be delivered within a period of four months. REL will be manufacturing this jewelry at its manufacturing plant at Bengaluru and will supply the order within the stipulated time period. This order is of great importance to REL as it opens up an entirely new market for REL products, the company said.
The order is to be completed in Rajesh Export’s manufacturing unit in Bangalore. The manufacturing facility sprawls over 12 acres of land of area with a developed zone of 500000 sqft. The organization has as of late procured 100% stake in Valcambi, the world’s biggest gold refinery with central command at Switzerland. With this obtaining the organization has developed as the single biggest constituent of the worldwide gold business. The order of Rs 125 crore for Valcambi has added weight to the international profile of Rajesh exports.
Valcambi has a strong marketing network in Europe developed over a period of more than 50 years Valcambi has agreed to market ERL products in Europe provided the products meet European standards and designs. Ever since Rajesh Exports announced the news to Bombay Stock Exchange, the share prices for REL have gone up by several percent. This is an absolutely positive indication. The market response to the expansion plans has been positive so far.