Rajesh Exports cracks below ₹100, locked in 5% lower circuit as SEBI alleges ₹15 trillion revenue misstatement
Jewellery exporter Rajesh Exports hit a second straight 5% lower circuit, sliding below ₹99.45, after SEBI's interim order flagged alleged misrepresentation of ₹15.15 trillion in revenue across FY21-FY25 via Swiss arm Valcambi — said to account for 99.8% of revenue. Stock is now down ~50% over a year. Company denies wrongdoing, terms it reporting confusion.
Jewellery exporter Rajesh Exports hit second straight 5% lower circuit after SEBI's interim order alleged ₹15.15 trillion revenue misrepresentation across FY21-FY25 via Swiss subsidiary Valcambi. Company denies wrongdoing, calls it a reporting confusion.