India's Rajesh Exports hits lower limit after SEBI order; company denies revenue inflation
04/06/2026 09:05
BUZZ-India's Rajesh Exports hits lower limit after SEBI order; company denies revenue inflation Updates
** Shares of India's Rajesh Exports REXP.NS fall 5% to exchange-allowed minimum of 103.92 rupees
** Markets regulator in an order on Wednesday alleged that the jewellery maker inflated its revenue scale over years, largely via unverified overseas entities, to the tune of 15.15 trillion rupees ($158.3 billion)
** SEBI bars company and its owners from securities markets until it completes investigation
** Co denies overstating revenue and says it was in the process of submitting documents to clarify all aspects with SEBI
** Says SEBI's order was interim and rejects media reports related to the matter
** YTD, REXP stock down 43.3%
(Reporting by Vivek Kumar M)
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