Jaykay Enterprises share price locked at upper circuit after signing MoU with Phillips Machine

The share price rose 125 percent in the last 6 months.

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Jaykay Enterprises share price locked at 5 percent upper circuit in the early trade on December 11 after the company signed MoU with Philips Machine Tools India Private Limited.

There were pending buy orders of 204,567 shares, with no sellers available.

The share price touched a 52-week high of Rs 99.14.

“……… has completed the execution of MoU on December 09, 2023 with Philips Machine Tools India Private Limited, a subsidiary of Philips Corporation, USA, engaged in the business of advanced manufacturing technology products and services, to synergistically expand each other businesses on Pan India and in Global markets,” the company said in its release.

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 and installation of manufacturing systems and accessories in India and global locations as parties may decide.

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It includes explore possibilities of setting up of a manufacturing facility for supply of machines systems & accessories into Philips Corp Machine tools supply chain and to explore possibilities of setting up of an Industry 4.0 consulting & manufacturing systems.

The share price rose 125 percent in the last 6 months.Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.​​​​​​​​​