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Business News›Magazines›Panache›Panache People 101›Rajesh Mehta
    Rajesh Mehta

    Rajesh Mehta

    Chairman, Rajesh Exports
    Birth DetailsJune 20, 1964 | Bengaluru
    NationalityIndian
    EducationSt. Joseph’s School, Bangalore
    Net Worth$1.57 billion (As of October 9, 2019)
    Rajesh Mehta's Assets:

    Rajesh Mehta's Journey so far ...
    • Born and brought up in Bangalore, Rajesh Mehta was one of the toppers at the Karnataka board's higher secondary and senior secondary school examinations. He did not pursue higher education and decided to join his father's jewellery business
    • In the early eighties when the jewellery business was unorganised in India, he and his brother Prashant borrowed Rs 1200 from their eldest brother and started a silver jewellery business, which later became one of the leading wholesalers of silver jewellery in south India and also in Gujarat and Mumbai
    • With the mantra to provide quality jewellery to customers at low cost, he set up a manufacturing facility in the garage of their Bangalore home. He later entered the gold wholesale business
    • In 1995, Mehta led Rajesh Exports Limited (REL) in entering the capital market with a public issue. The company raised Rs 10 crore in the IPO
    • In 2015, under the leadership of Mehta, Rajesh Exports acquired Valcambi, the world's largest precious metals refinery for $400 million (about Rs 2,560 crore) in an all-cash deal
    • The acquisition made news as this was the first case where an Indian firm bought an overseas gold and silver refinery; the Swiss company has 60% of the world's gold-refining capacity
    • Under the guidance of Mehta, REL is today the world's largest manufacturer of gold products and gold exporter; 95% of its revenues come from exports of jewellery, medallions, etc to the Middle East, Far East, the US and Europe
    • REL has one of the world's largest jewellery production units in Bengaluru, and two refineries in Uttarakhand and at Balerna in Switzerland. The company has the capacity to refine 2,400 tonnes of gold per year and can manufacture 400 tonnes of gold products annually
    • Under the brand name of Shubh Jewellers, Mehta set up retail jewellery showrooms across India
    • From gold mining to retailing of gold jewellery, the Bengaluru-headquartered company has diversified under Mehta and refines over 35% of the world's gold. In the financial year 2018-19, it was a zero-debt company on a standalone basis

    Before you go ...

    Last Updated: 26/03/2021

    Rajesh Mehta News

    • YES Bank shares consolidated below Rs 25 resistance, trending downwards with support at Rs 23. Expectation of range-bound trading between Rs 23-25; breakout above Rs 25 could target Rs 27.50 and Rs 28.
    • The Street has discounted the defence manufacturing stocks too much into the future. Even the earning visibility has been discounted. It is a fast-moving train; it does not make sense to get onto that train at this point. There are many choices when it comes to rural play – two-wheelers, fertilisers, pesticides, and M&M, says Dipan Mehta
    • Amul and the new multi-state cooperative organics both will do handholding of all these farmers, even encourage more farmers elsewhere to get into this space, work on getting the certification of their soil, and use Amul economy model where they can even convert the dunk of our cattle into organic manure, get back to the field, use it extensively with the support that is required for a farmer, says Jayen Mehta
    • The July series remains strong with Nifty target at 24,400. Bank Nifty is supported at 52,000. Rajesh Palviya has advised a buy-on-dip strategy. if Bank Nifty crosses the 52,600 mark, then this rally can extend further towards 53,400 to 53,600 also. So, both indices are looking bullish at this moment. Nifty Realty is in consolidation mode. Potential downside for Nifty Realty. Godrej Realty is showing strength.
    • This is significant, as you mentioned—it's a notable event. The only caveat is that this recognition of India should have come much earlier, but finally, India has been acknowledged.
    • Indian equity markets have reached record highs, with several stocks demonstrating significant growth over the past year. Despite this, seven stocks in the BSE500 index have experienced declines ranging from 40% to 60% from their peak levels this year.
    • Dipan Mehta says that if one has missed out, then it is better to just stay away at this point. Even in bull markets, one should expect corrections and corrections are a good time to load up on stocks that have done exceptionally well and the future also is very good, very positive because of order wins or earning visibility. But in a charging bull market, in a running train like this, it does not make sense to enter.
    • On days of positive FII flows largecap stocks will do exceptionally well because those are the ones that they really are targeting and if FII buying, even FII selling, stops in some of the largecap index stocks, local money will ensure that the stock prices move up, says Dipan Mehta
    • On the International Day for Women in Diplomacy, UNGA President Dennis Francis honored Hansa Mehta, an Indian feminist leader and diplomat, for her pivotal role in making the Universal Declaration of Human Rights (UDHR) more inclusive. Mehta successfully advocated changing "All men are born free and equal" to "All human beings are born free and equal" in the UDHR's Article 1, a landmark moment for women's rights.
    • Prime Minister Narendra Modi's Atmanirbhar Bharat (self-reliant India) initiative was highlighted as a framework for HMT's revival, the statement added. Kohli is said to have outlined the various problems HMT is facing, including financial crises, lawsuits, and overall losses.
    • Heavy Industries Minister H D Kumaraswamy has directed top officials of Hindustan Machine Tools (HMT) to prepare proposals aimed at revitalizing the struggling public sector enterprise. The once-prestigious HMT is currently grappling with significant challenges, including financial difficulties, legal issues, and operational losses. Kumaraswamy emphasized the importance of strengthening HMT and instructed its Chairman and Managing Director, Rajesh Kohli, to submit a detailed revival plan to the central government.
    • ​Next three years that gap is not going to be big. In fact, the private sector banks actually can do better than public sector banks in terms of the overall earnings growth because the bulk of that benefit of credit cost is already behind us.
    • ​Some of the FMCG participants also came in this analyst guidance that most of these companies are now trying to come back and there was a decent volume growth which is seen.
    • The Centre extends AYUSH Secretary Vaidya Rajesh Kotecha's tenure by one year, making it his third extension. The Appointments Committee of the Cabinet approves the extension. PM Modi to lead International Day of Yoga celebrations at SKICC in Srinagar on June 21.
    • UK-based law firm Ashurst appoints Kalpana Unadkat and Shishir Mehta as co-heads of their India practice in London, reflecting the firm's commitment to investing in India's growing market.
    • ​The larger ones, the large banks, the large IT companies, the large pharma companies, they are still in that ballpark figure of 15 times to 30-35 times trailing 12-month price to earning multiple.
    • Musk's compensation package not only outstrips TaMo but also surpasses the total revenues of other prominent Indian entities, including HPCL, SBI, Rajesh Exports, and TCS
    • Quess Corp's demerger process, led by chairman Ajit Isaac, aims to unlock value at India's largest third-party staffing supplier. The company plans to file an application with the NCLT and has seen a 44% stock rally in the past year.
    • Investors looking for safer bets on Dalal Street could consider HDFC Bank but they would be better off putting money in the stock in installments over the next few months. HDFC Bank has been among the top picks of mutual funds, but the absence of big foreign purchases has kept a lid on the stock price.
    • Kerala Minister M B Rajesh criticised NCERT's modifications to school textbooks regarding the Babri Masjid demolition. He accued the move by the government as communalising and urged a collective fight against such attempts. Rajesh alleged that the BJP-led government has a history of similar actions, emphasising the need to resist their communal agendas. NCERT defended the changes, stating that teaching about riots could lead to negative impacts on students.
    • "A credit card is the most expensive piece of plastic in the world. You are charged 40% interest if you don’t pay on time. You would think it’s fine to pay 5% minimum due balance, but they still charge an interest on the outstanding amount. One should avoid treating credit cards like money in pocket," says Satish Mehta, Founder, Athena CredXpert.
    • Kota, a city in Rajasthan, has emerged as a magnet for aspiring students across India, particularly those preparing for competitive exams like JEE and NEET. Known for its coaching institutes that offer structured and rigorous training, Kota has become synonymous with academic excellence and success in entrance examinations. Thousands of students flock to this city every year, driven by the promise of realising their dreams of becoming engineers and doctors.
    • On the Bank Nifty, still Bank Nifty is struggling to give a decisive breakout above 50,000 mark, so that is the challenging level at this moment based on the call concentration.
    • Tech Mahindra said in a statement, "The new leaders will aim to support Comviva's strategic vision based on the new market expansion and deep client relationship." To enhance its focus on growth, the digital solutions provider has divided Europe into two sub-regions. Salah Rich, head of Europe 1 subregion, will lead the markets of Italy, Russia and France.
    • Ather Energy reportedly planning to invest about Rs 1,000 crore in the plant. Spanning across 100 acres in phases, the plant will be situated in Bidkin town within Aurangabad. Ather's existing assembly and battery plants are currently located in Hosur, Tamil Nadu.
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    DisclaimerThe content of this page has been aggregated from multiple websites. Some information can change over the passage of time.
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