Rajesh Exports Share Price Hits 5% Upper Circuit at Rs 80.90 on June 15, Snapping a 7-Day Losing Streak After SEBI June 3 Interim Order
- June 15, 2026
- Posted by: Ankit Jaiswal
- Category: News
Rajesh Exports (BSE:RAJESHEXPO): Rs 80.90 (5% upper circuit). O Rs 73.20. PC Rs 77.05. 52W H Rs 239. SEBI June 3 order: Rs 15.15 lakh Cr revenue allegation.
Rajesh Exports share price hit the 5% upper circuit at Rs 80.90 on June 15, 2026, snapping a 7-day consecutive lower circuit streak that began on June 4, 2026 , the first trading day after SEBI issued a 109-page interim order on June 3 alleging that the Bengaluru-based gold jewellery company misrepresented consolidated revenues of approximately Rs 15.15 lakh crore over FY2020-21 to FY2024-25. Rajesh Exports share price opened at Rs 73.20 today , near its recent post-order lows , before sharply reversing in what appears to be a technical bounce driven by short covering after 7 sessions of consecutive declines. From its 52-week high of Rs 239 (December 22, 2025), Rajesh Exports share price has now fallen approximately 66% to the current upper circuit level of Rs 80.90. The SEBI investigation is ongoing and the interim order is subject to final adjudication. Investors should note that hitting the upper circuit today does not change the fundamental regulatory risk.
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Rajesh Exports Share Price and SEBI Order Details
| Parameter | Details |
|---|---|
| BSE Symbol | RAJESHEXPO |
| LTP (Upper Circuit) | Rs 80.90 |
| Previous Close (June 14) | Rs 77.05 |
| Upper Circuit Level | Rs 80.90 (+5%) |
| Today’s Open | Rs 73.20 (near lower circuit at open) |
| Today’s High | Rs 80.90 (locked upper circuit) |
| Session behaviour | Opened weak (Rs 73.20), reversed sharply to hit +5% UC |
| 52-Week High | Rs 239 (December 22, 2025) |
| 52-Week Low | ~Rs 73-75 range (post SEBI order) |
| Decline from 52W high | ~-66% from Rs 239 to Rs 80.90 |
| SEBI interim order date | June 3, 2026 |
| SEBI allegation | Rs 15.15 lakh crore revenue misrepresentation (FY21-FY25) |
| CMD bar | Rajesh Mehta barred from dealing in securities until further notice |
| Stock status | 7 trading days of lower circuits post June 3 order |
| Trading category | BZ series , restricted trading segment |
| Company response | Denied allegations; called it a ‘communication gap’ |
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SEBI Allegations and Company Response
SEBI’s June 3 interim order is one of the most significant regulatory actions in recent Indian corporate history in terms of the revenue amounts alleged. The regulator alleges that between FY21 and FY25, Rajesh Exports reported consolidated revenues of approximately Rs 15.45 lakh crore, of which Rs 15.15 lakh crore (98%) was attributed to overseas subsidiaries and could not be independently verified despite forensic auditor BDO India repeatedly requesting supporting documentation. SEBI estimates that the alleged misrepresentation and fund movements resulted in shareholder wealth erosion of approximately Rs 12,726 crore. Rajesh Exports and CMD Rajesh Mehta have denied all allegations, stating revenues are genuine and the issue stems from a communication gap regarding the accounting methodology for Valcambi SA, its Swiss gold refinery.
Technical Context for Today’s Upper Circuit
After 7 consecutive lower circuits, Rajesh Exports share price had fallen from Rs 104.65 (first lower circuit, June 4) to Rs 77.05 (June 14 close), a 26.4% further decline post the initial SEBI selloff. In stocks including Rajesh Exports share price that have been in multiple lower circuits, technical reversals to upper circuits are common as: existing short positions are squared off (short covering), speculative traders buy into extreme oversold readings, and retail investors misinterpret circuit reversals as fundamental improvements. Today’s upper circuit does NOT indicate any SEBI order has been withdrawn or that the company has resolved the regulatory concerns.
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Conclusion
Rajesh Exports share price at Rs 80.90 (+5%, upper circuit) reversed 7 lower circuits in a technical bounce. From 52W high Rs 239 to Rs 80.90 = -66% decline. SEBI June 3 interim order alleges Rs 15.15 lakh crore revenue misrepresentation. Company denies allegations. Investigation ongoing. Extreme caution advised. Educational only.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
Why is Rajesh Exports share price hitting the upper circuit today?
Ans. Rajesh Exports share price (BSE: RAJESHEXPO) hit the 5% upper circuit at Rs 80.90 on June 15, 2026, after 7 consecutive trading days of lower circuits following the SEBI interim order of June 3. Today’s reversal in Rajesh Exports share price appears to be a technical bounce driven by short covering and speculative buying at extreme oversold levels. The stock opened at Rs 73.20 (near its recent lows) before sharply reversing to the 5% upper circuit. It is important to note that the underlying fundamental concerns remain unchanged: SEBI’s interim order alleges Rs 15.15 lakh crore in revenue misrepresentation across FY21-FY25. The stock hitting upper circuit today does NOT mean the SEBI concerns have been resolved. Investors should exercise extreme caution.
What does SEBI’s June 3 interim order against Rajesh Exports allege?
Ans. SEBI’s 109-page interim order dated June 3, 2026, issued by Whole Time Member Kamlesh Chandra Varshney, alleges that Rajesh Exports Limited misrepresented consolidated revenues of approximately Rs 15.15 lakh crore between FY2020-21 and FY2024-25. According to SEBI, between 97-99% of Rajesh Exports’ consolidated revenues were attributed to overseas subsidiaries, primarily Valcambi SA (its Swiss gold refinery), and these revenues could not be independently verified despite repeated requests for documentation. The order further alleges non-genuine transactions, fund diversion through promoter-linked entities, and inadequate disclosures to investors. SEBI has barred promoter and CMD Rajesh Mehta from buying, selling, or dealing in securities of Rajesh Exports until further directions. These are SEBI’s prima facie findings in an interim order and are subject to final adjudication.
Has Rajesh Exports responded to SEBI’s order?
Ans. Yes. Rajesh Exports denied all allegations. The company stated that its consolidated revenues are ‘true and genuine’ and attributed the SEBI allegation to a ‘communication gap’ , specifically arguing that SEBI considered Valcambi’s EBITDA instead of revenue, which created a discrepancy in the figures. CMD Rajesh Mehta publicly stated that ‘nothing in it is true’ and categorised the order as interim with no adverse conclusion reached. The company has stated it is submitting relevant documents and cooperating with the ongoing investigation. Both the company and Mehta retain the right to submit a detailed response as part of the SEBI adjudication process.
Should investors buy Rajesh Exports at current levels?
Ans. Rajesh Exports share price hitting the upper circuit after 7 lower circuits may look like a buying opportunity at first glance, but investors should exercise extreme caution. The fundamental risk from SEBI’s interim order is very significant: an allegation of Rs 15.15 lakh crore in revenue misrepresentation, if upheld after full adjudication, would have severe implications for the company’s business, management, and corporate governance standing. While the order is interim and subject to final hearing, the magnitude of the allegations is unprecedented. The stock is placed in the BZ (restricted) trading series on NSE. LIC, which holds approximately 10.8% of Rajesh Exports, faces significant mark-to-market losses. This is educational only. Do not make investment decisions based on intraday upper circuit moves in stocks under regulatory investigation. Consult a SEBI-registered adviser before any action.
