Rajesh Exports clarifies on news regarding stake sale

With reference to the new article appearing in a leading financial daily titled "De Beers eyes 51% in Rajesh Exports", Rajesh Exports Ltd has clarified that at a Conference in New York, funds and investors have envisaged interest in the Company. The Company has discussed in detail about the developments at its Board meeting on September 17, 2007 and the Board has decided to appoint an independent agency for the valuation of Company's business enterprise and other assets of the Company. The Board specifically suggested the valuation to generate awareness about the true valuation of the Company among the investors of the Company.

Upon finalization of any proposal from the investors the Company would inform the Stock Exchange.

The stock was trading at Rs.789.45, up by Rs.2.55 or 0.32%. The stock hit an intraday high of Rs.820 and low of Rs.784. The total traded quantity was 286893 compared to 2 week average of 166963.

Source : Equity Bulls

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