Rajesh Exports shares hit 5% lower circuit

New Delhi: Shares of gold refining and jewellery manufacturing company Rajesh Exports tumbled 5 per cent on Wednesday to hit the lower circuit limit amid fresh escalation in the troubles surrounding the company, a day after the Enforcement Directorate conducted searches at multiple premises linked to the firm.

The stock dropped 4.99 per cent to hit the lower circuit limit of Rs 102.85 on the BSE. At the NSE, the stock tanked 5 per cent to end at Rs 102.12.

However, the stock had extended gains for the past seven trading sessions, rallying over 40 per cent. Meanwhile, the BSE on Wednesday sought a clarification from Rajesh Exports Ltd over reports of searches conducted by the Enforcement Directorate (ED) at multiple locations linked to the Bengaluru-based company.