Jaykay Enterprises touches roof on getting nod to incorporate Wholly Owned Subsidiary

Jaykay Enterprises is currently trading at upper circuit limit of Rs. 50.59, up by 8.43 points or 20.00% from its previous closing of Rs. 42.16 on the BSE.

The scrip opened at Rs. 48.00 and has touched a high and low of Rs. 50.59 and Rs. 47.50 respectively. So far 96031 shares were traded on the counter.

The BSE group ‘X’ stock of face value Rs. 1 has touched a 52 week high of Rs. 74.00 on 30-Aug-2022 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. 50.59 and Rs. 41.80 respectively. The current market cap of the company is Rs. 221.21 crore.

The promoters holding in the company stood at 51.30%, while Institutions and Non-Institutions held 2.77% and 45.93% respectively.

Jaykay Enterprises’ (JKE) board has approved the incorporation of ‘JK Defence & Aerospace’ (Proposed Company), as Wholly Owned Subsidiary (WOS) of the Company on June 22, 2023. The incorporation of the WOS will leverage the growth opportunities w.r.t. execute the company’s plan going forward.

The company 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.