Jaykay Enterprises touches roof on completing execution of MoU with Philips Machine Tools India
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Jaykay Enterprises is locked its upper circuit limit at Rs. 99.14, up by 4.72 points or 5.00% from its previous closing of Rs. 94.42 on the BSE.
The scrip opened at Rs. 99.14 and has touched a high and low of Rs. 99.14 and Rs. 99.14 respectively. So far 17125 shares were traded on the counter.
The BSE group 'X' stock of face value Rs. 1 has touched a 52 week high of Rs. 99.14 on 11-Dec-2023 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. 99.14 and Rs. 84.30 respectively. The current market cap of the company is Rs. 579.55 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 has completed the execution of Memorandum of Understanding (MoU) on December 09, 2023 with Philips Machine Tools India (Phillips Corp) a subsidiary of Philips Corporation, USA, with an intent to synergistically expand each other business pan India and in Global markets. The company is engaged in the business of Supplying 3D printing machine and accessories, 3D printing service bureau and DfAM besides Machining and manufacturing of Defence and Allied products, while Philips Corp is engaged in the business of Advanced manufacturing technology products and services.
The MoU allows parties to discuss and mutually agree the terms of setting up a Joint Venture LLP (Limited Liability Partnership) within 3 months of the execution of this MoU. The Joint Venture aims to participate in supply & installation of manufacturing systems & accessories in India & global locations as parties may decide; to explore possibilities of setting up of a manufacturing facility for supply into Philips Corp Machine tools supply chain of machines systems & accessories and to explore possibilities of setting up of an Industry 4.0 Consulting & manufacturing systems.
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.
