Rajesh Exports cracks below ₹100, locked in 5% lower circuit as SEBI alleges ₹15 trillion revenue misstatement

Jewellery exporter Rajesh Exports hit a second straight 5% lower circuit, sliding below ₹99.45, after SEBI's interim order flagged alleged misrepresentation of ₹15.15 trillion in revenue across FY21-FY25 via Swiss arm Valcambi — said to account for 99.8% of revenue. Stock is now down ~50% over a year. Company denies wrongdoing, terms it reporting confusion.

— Source publishedFri, 5 Jun, 2026, 09:50 IST·First seen Fri, 5 Jun, 2026, 09:56 IST·Source Mint · Markets

What happened

Jewellery exporter Rajesh Exports hit second straight 5% lower circuit after SEBI's interim order alleged ₹15.15 trillion revenue misrepresentation across

Key facts

  • ₹99.45
  • 5% lower circuit
  • ₹15.15 trillion
  • 99.8% of revenue
  • FY21-FY25
  • 50% 1-year decline

Why this matters

Any deal, JV, or supply linkage touching Rajesh Exports or Valcambi needs immediate counterparty review — regulatory contagion and asset-freeze risk could strand exposures fast.