Rajesh Exports to form subsidiary in Europe

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To expand its global footprint, jewellery maker Rajesh Exports on Monday said its board has given the nod to form a subsidiary in Europe.

"Board of Directors have given the approval to form a subsidiary in Europe to expand the global footprint of the company," Rajesh Exports said in a BSE filing.

The Board also authorised the company's Chairman Rajesh Mehta to carry out all the required formalities in this regard.

Rajesh Exports has a manufacturing facility in Bengaluru with an installed capacity to process 250 tonnes of jewellery per annum.

The company sells its products through its retail brand Shubh Jewellery. The company's scrip was trading on Monday at Rs 241.60 apiece, up 3.62 per cent in afternoon the trade on BSE.