Jaykay Enterprises shines as its arm inks tripartite agreement to manufacture medical implants
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Jaykay Enterprises is currently trading at Rs. 157.00, up by 6.15 points or 4.08% from its previous closing of Rs. 150.85 on the BSE.
The scrip opened at Rs. 153.75 and has touched a high and low of Rs. 157.80 and Rs. 151.00 respectively. So far 122661 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 159.15 on 19-Jan-2024 and a 52 week low of Rs. 40.00 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 159.15 and Rs. 142.95 respectively. The current market cap of the company is Rs. 916.03 crore.
The promoters holding in the company stood at 56.29%, while Institutions and Non-Institutions held 2.48% and 41.23% respectively.
Jaykay Enterprises’ wholly owned subsidiary (WOS) -- JK Digital & Advanced Systems (JK Digital) has executed a tripartite manufacturing agreement with Meril Innovations, (Meril Lifesciences), Gujarat, a leading MedTech Solutions Company, for production of Medical Devices/Implants through 3D Printing along with its technology Partner EOS Electro Optical Systems India, Chennai a WOS of EOS GmBH of Germany.
The agreement provides for JK Digital to Install, Operate specified 3D Printers assisted by EOS, its technology Partner for manufacturing of Orthopedic Implants at Meril Lifesciences premises in Gujarat. The agreement will be initially for 15 years, mutually extendable by parties. The initial annual revenues are likely to be Rs 12-18 crore per year.
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.
