Rajesh Exports Share: The shares of Rajesh Exports, a company involved in gold and jewelery business, are still in bad shape. Today, on Wednesday, June 10, during the trading in the stock market, the shares of Rajesh Exports hit a lower circuit of 5% for the 5th consecutive session.

Amidst heavy selling pressure, the share price has now fallen to the level of Rs 84.66. After the serious allegations made by the market regulator SEBI, the shares of Rajesh Exports are continuously falling. Due to this, billions of rupees of investors have been lost.

Shares are continuously falling

In the last one week, the shares of Rajesh Exports have fallen by about 22.6%. It has fallen by more than 30% in one month, 55% in 6 months and almost 58% in the last one year.

This trend of fall in shares became even faster when the news of the Central Government’s Ministry of Heavy Industries expelling the company from the ongoing PLI scheme for Advanced Chemistry Cell Battery Storage started emerging. Since the ACC battery business is one of the important future projects of the company, if the decision is taken that the company is considered ineligible for the scheme, it will be no less than a shock for it.

Where did things start going wrong?

In fact, recently, SEBI in its 109-page interim order has alleged that the company overstated its revenue by Rs 15.15 lakh crore between the financial years 2020-21 and 2024-25, which in reality was about 99.8% of the total revenue of the company’s subsidiaries. SEBI accused the company of suspicious transactions between related parties including fund diversion. After this, SEBI banned the company’s promoter and chairman Rajesh Mehta from trading on the stock market with immediate effect and directed to conduct a forensic audit of the company’s accounts.

How many crores of LIC are stuck?

The stake of foreign institutional investors (FIIs) in the company’s shares has been decreasing for three consecutive years, from 17.6% in March 2023 to about 14.26% by March 2026. Since the market cap of Rajesh Export is Rs 3090 crore and the total stake of LIC in the company is 10.80%. According to this, the investment of more than Rs 300 crore of Life Insurance Corporation of India is stuck in the company.

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Explained: How SEBI caught ‘paper’ business worth Rs 15 lakh crore in Rajesh Exports scam, why did LIC increase its stake?