RAJESH EXPORTS:-
Incorporated in 1989, Rajesh Exports Ltd is a manufacturer of Gold and Gold Products.
Fundamental Analysis:-
Overview:-
- Company is a gold refiner, manufacturer and exporter of Gold products.
- Only company in the world with presence across the entire value chain of Gold from refining to retailing, processing 35% of gold produced in the world.
- Design portfolio of 29000 active jewelry designs, selling them in wholesale and retail channels.
Products:-
- Hand Made Plain Gold Jewelry, Hand Made Studded Gold Jewelry, Casted Jewelry, Machine Chains, Machine Bangles, Pipe Jewelry, Hollow Jewelry, Antique Jewelry, Chains, Necklaces, Bangles, Bracelets, Finger Rings, Ear Rings, etc.
Retailing:-
- Sells gold and diamond jewelry through its retail chain stores of brand name SHUBH Jewelers. - 80 jewelry showrooms in Karnataka.
Subsidiaries:-
- 100% subsidiary REL Singapore PTE which has further step down subsidiaries Valcambi SA, Switzerland & Bab Al Ryan, UAE.
Acquisition of Valcambi:-
- Acquired Valcambi in 2015 for $400 million.
- World's largest gold refinery & largest gold producer at the time of acquisition.
Manufacturing Capacity:-
a) Company has 2 refining facilities. Valcambi at Switzerland with a capacity to refine 2400 tons of precious metals and another facility in Uttarakhand with a capacity to refine ~400 tons of precious metals
b) Company has setup various manufacturing facilities with the main facilities being at Bangalore, Cochin and at Dubai. They have a combined capacity to manufacture ~350 tons of gold jewelry and gold products per annum.
Exports:-
- Company is the only government recognized five star export house in the jewelry sector.
- Exports to 60+ countries.
- Gold bars produced by Valcambi are exported to major bullion banks across the world.
- Gold Jewelry is exported to white label manufacturers and wholesalers across the world.
Market Cap ₹ 10,561 Cr approx.
Debt ₹ 627 Cr.
(As compare to Market Cap debt is too less).
Current Price ₹ 358.
High 1030 and Low 334.
(So it's near it's low now).
Book Value ₹ 516
Graham Number₹ 670
(Below it's Book Value and Graham number so expected to rise).
Dividend Yield 0 %
ROCE10.3 %
ROE10.5 %
(No Dividend but ROCE and ROE is ok).
Promoter holding 54%
Pledged percentage 0 %
(It show faith of promotor's in the comapny).
Technical Analysis:-
Monthly Chart
- Below 200 EMA on Monthly timeframe.
- Its Below 200 EMA on three timeframes - Daily/weekly/Monthly.
- Daily RSI near 36, Weekly RSI near 25, Monthly RSI near 34 (All three RSI near Oversold Zone).
Weekly Chart
- Below 200 EMA on Weekly timeframe.
- RSI making double bottom (marked with skyblue line).
- Price is on trendline Support (yellow Trendline).
Daily Chart
- Below 200 EMA on Daily timeframe.
- On Daily chart RSI has made triple bottom marked as 1-2-3.
- Took support 4th time 2 RSI trendline (Yellow Colour Trendline).
- Price taking support near 334 (marked with yellow horizontal line).
- If we compare Price yellow horizontal line and RSI yellow trendline its Bullish Divergence.
- RSI is facing resistance for the 4th time now (Pink Resistance trendline) may give a Breakout.
Keep RAJESH EXPORTS on radar its Fundamentally Ok company and technically if it breaks above support/resistance Zone of 418 to 446.
and Retest this as support zone.
BUY above 420 to 445 after retest.
TARGETS are 558 - 657 - 747 -852 - 976.
Stoploss will be 310.
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. We are not SEBI registered.
Happy Trading :-)
Incorporated in 1989, Rajesh Exports Ltd is a manufacturer of Gold and Gold Products.
Fundamental Analysis:-
Overview:-
- Company is a gold refiner, manufacturer and exporter of Gold products.
- Only company in the world with presence across the entire value chain of Gold from refining to retailing, processing 35% of gold produced in the world.
- Design portfolio of 29000 active jewelry designs, selling them in wholesale and retail channels.
Products:-
- Hand Made Plain Gold Jewelry, Hand Made Studded Gold Jewelry, Casted Jewelry, Machine Chains, Machine Bangles, Pipe Jewelry, Hollow Jewelry, Antique Jewelry, Chains, Necklaces, Bangles, Bracelets, Finger Rings, Ear Rings, etc.
Retailing:-
- Sells gold and diamond jewelry through its retail chain stores of brand name SHUBH Jewelers. - 80 jewelry showrooms in Karnataka.
Subsidiaries:-
- 100% subsidiary REL Singapore PTE which has further step down subsidiaries Valcambi SA, Switzerland & Bab Al Ryan, UAE.
Acquisition of Valcambi:-
- Acquired Valcambi in 2015 for $400 million.
- World's largest gold refinery & largest gold producer at the time of acquisition.
Manufacturing Capacity:-
a) Company has 2 refining facilities. Valcambi at Switzerland with a capacity to refine 2400 tons of precious metals and another facility in Uttarakhand with a capacity to refine ~400 tons of precious metals
b) Company has setup various manufacturing facilities with the main facilities being at Bangalore, Cochin and at Dubai. They have a combined capacity to manufacture ~350 tons of gold jewelry and gold products per annum.
Exports:-
- Company is the only government recognized five star export house in the jewelry sector.
- Exports to 60+ countries.
- Gold bars produced by Valcambi are exported to major bullion banks across the world.
- Gold Jewelry is exported to white label manufacturers and wholesalers across the world.
Market Cap ₹ 10,561 Cr approx.
Debt ₹ 627 Cr.
(As compare to Market Cap debt is too less).
Current Price ₹ 358.
High 1030 and Low 334.
(So it's near it's low now).
Book Value ₹ 516
Graham Number₹ 670
(Below it's Book Value and Graham number so expected to rise).
Dividend Yield 0 %
ROCE10.3 %
ROE10.5 %
(No Dividend but ROCE and ROE is ok).
Promoter holding 54%
Pledged percentage 0 %
(It show faith of promotor's in the comapny).
Technical Analysis:-
Monthly Chart
- Its Below 200 EMA on three timeframes - Daily/weekly/Monthly.
- Daily RSI near 36, Weekly RSI near 25, Monthly RSI near 34 (All three RSI near Oversold Zone).
Weekly Chart
- RSI making double bottom (marked with skyblue line).
- Price is on trendline Support (yellow Trendline).
Daily Chart
- On Daily chart RSI has made triple bottom marked as 1-2-3.
- Took support 4th time 2 RSI trendline (Yellow Colour Trendline).
- Price taking support near 334 (marked with yellow horizontal line).
- If we compare Price yellow horizontal line and RSI yellow trendline its Bullish Divergence.
- RSI is facing resistance for the 4th time now (Pink Resistance trendline) may give a Breakout.
Keep RAJESH EXPORTS on radar its Fundamentally Ok company and technically if it breaks above support/resistance Zone of 418 to 446.
and Retest this as support zone.
BUY above 420 to 445 after retest.
TARGETS are 558 - 657 - 747 -852 - 976.
Stoploss will be 310.
This idea is for Educational purpose and paper trading only. Please consult your financial advisor before investing or making any position. We are not SEBI registered.
Happy Trading :-)