Jaykay Enterprises shines as its arm acquires additional equity shares in Allen
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Jaykay Enterprises is currently trading at Rs. 127.60, up by 5.20 points or 4.25% from its previous closing of Rs. 122.40 on the BSE.
The scrip opened at Rs. 128.50 and has touched a high and low of Rs. 128.50 and Rs. 125.05 respectively. So far 50377 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 169.00 on 25-Jan-2024 and a 52 week low of Rs. 41.80 on 22-Jun-2023.
Last one week high and low of the scrip stood at Rs. 134.40 and Rs. 121.10 respectively. The current market cap of the company is Rs. 746.21 crore.
The promoters holding in the company stood at 56.29%, while Institutions and Non-Institutions held 2.51% and 41.20% respectively.
Jaykay Enterprises through its wholly owned subsidiary i.e. JK Defence & Aerospace (JK Defence) has acquired additional 1,94,03,363 equity shares [partly paid-up] in step-down subsidiary i.e. Allen Reinforced Plastics (Allen) on June 02, 2024, offered via Rights Issue. On Completion of full payment of the above Rights Shares, JK Defence’s shareholding in Allen will increase to 92.92%. The cost of acquisition is Rs 5.04 crore.
Jaykay Enterprises manufactures synthetic yarns, fibres and fabrics, portland and white cement, chemicals, fertilisers, pharmaceuticals and synthetic fibre-making machinery, and chemicals, and develops renewable energy sources.
