Rajesh Exports Rebounds Sharply on Upper Circuit

Shares of $RAJESHEXPO orts Ltd surged 5% to hit the upper circuit at around ₹80.23 on June 15, 2026, snapping a seven-session losing streak that wiped out nearly 30% of its market value. The stock had plunged to a 52-week low of ₹77.05 following SEBI’s interim order. On June 3, SEBI barred the company and its founder-chairman Rajesh Mehta from accessing the securities market. The regulator alleged that Rajesh Exports overstated consolidated revenue by about ₹15.15 lakh crore between FY21 and FY25, with 97-99% of revenues reportedly originating from overseas subsidiaries, mainly Switzerland-based Valcambi SA. SEBI raised concerns over unverifiable transactions and disclosures. The Bengaluru-based jewellery exporter has strongly denied any wrongdoing, calling the order preliminary and stating it is submitting detailed explanations and documents to the regulator. Despite today’s rebound, the stock remains significantly below pre-order levels amid ongoing uncertainty.