Stock market analysts are of the view that investors can buy Rajesh Exports Ltd stock to achieve an intraday target between Rs 102-104.

According to them, investors can buy the stock with a strict stop loss of Rs 97.50.

Shares of the company, on Monday (Feb 01), closed at Rs 99.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 101 and a low of Rs 21.60 on BSE.

Current EPS & P/E ratio of the stock stood at 4.05 & 25.31 respectively.

Rajesh Exports, India's biggest maker and exporter of jewelry, announced that its net profit during the third quarter ended December 2009 surged over one-and-a-half times to Rs 43.9 crore.

The Bangalore-based company said that it attained the growth due to hefty improvement in markets.

The company's net sales rose 65.87% to Rs 4,532.1 crore, while operating profit increased two-fold to Rs 66.87 crore.

The company's order book status as on December 31, 2009 stood at Rs 1,132.64 crore.

Chairman Rajesh Mehta stated, "A year ago, we were cautious in our business outlook and were not giving any credits. But, with some sort of stability returning to the market, we have started offering some credit. We have removed caution to some extent."

The company nets around 94% of its sales from exports and the remaining from the Indian market.