Rajesh Exports hits a new high again

Rajesh Exports had hit a new high yesterday at Rs.546 and today too, it has hit a new high at Rs.549.95.

The counter is excited today after the company announced in the morning that it had purchased Valcambi is the world’s largest precious metal’s refining company headquartered at Switzerland. Valcambi has processed and sold 945 tons of Gold and 325 tons of Silver on an average per year during the last three financial years which is more than the annual consumption of gold in India.

This company was acquired in an all-cash deal worth $400 million. Rajesh Exports was selected after a global search by Valcambi's existing owners led by Newmont Mining Corp. For Rajesh Exports, this deal will mean a secure raw material supplies. With Valcambi acquisition, REL will become an integrated player covering precious metal refining & gold jewellery making. Valcambi acquisition will be EPS accretive.