The Board of Directors at Rajesh Exports have given a go ahead for the company to undertake its global expansion plans, reports say. The company intends to set up a subsidiary in Europe to reach its presence in the world.

The Board’s approval permits the setting up of this subsidiary. Also, Rajesh Mehta, Chairman of Rajesh Exports, as authorised by the Board, will carry out the required formalities to set up the subsidiary, reports add. The company has a retail identity under the brand name Shubh Jewellery. It’s manufacturing facility is located in Bengaluru, reports add. Its share prices touched a 52-week high rising around Rs 241.60 a share, up 3.62 percent on BSE, reports say.