Rajesh Exports shares plunged to a fresh lower circuit of ₹97.02 on the National Stock Exchange on Thursday, marking a 5% decline in a single session.
The sharp repricing followed the Enforcement Directorate's (ED) public accusation that the company committed significant departures from standard compliance protocols regarding foreign exchange and trade documentation.
The ED stated that Rajesh Exports failed to produce adequate documentation related to imports, exports, overseas investments, and foreign trade settlements.
These allegations come just one day after the agency conducted searches at the company's premises in Bengaluru and Mumbai, signaling an intensification of the regulatory probe into the firm's operational and financial record-keeping.
The market reaction underscores investor sensitivity to regulatory risk in the Indian textile and export sector.
With the stock hitting the lower circuit, selling pressure was temporarily halted by exchange mechanisms, leaving the full extent of the valuation impact to be determined in subsequent trading sessions.