Jaykay Enterprises' Share Price Spikes As JV Secures Rs 139.48 Crore Contract
The contract involves the design, supply, installation, commissioning, and training of various conventional machinery for MSME training centers across India, to be delivered on a turnkey basis.
Jaykay Enterprises Ltd.'s share price surged over 11% after it announced that its 50:50 joint venture with Phillips Machine Tools India Pvt. Ltd., J K Phillips LLP has received a Letter of Acceptance from Ircon International Ltd., a Navratna PSU under the Government of India.
The contract, valued at Rs 139.48 crore involves the design, supply, installation, commissioning, and training of various conventional machinery for MSME training centers across India, to be delivered on a turnkey basis.
The completion timeline for the project is set at 240 days from the LOA date, i.e., September 24, 2025. The initiative is aligned with India’s “Viksit Bharat” vision, which aims to transform the country into a developed nation by 2047, the company said in an exchange filing.
MSME centers, being vital engines of economic growth, job creation, and export promotion, are expected to benefit significantly from this capacity-building and digital transformation effort. The contract also supports government-led formalisation and skilling of MSMEs through advanced manufacturing technologies, the exchange filing said.
The scrip rose as much as 11.44% to Rs 224.50 apiece. It pared gains to trade 5.83% higher at Rs 213.20 apiece, as of 10:16 a.m. This compares to a flat NSE Nifty 50 Index.
It has risen 127.29% in the last 12 months. Total traded volume so far in the day stood at 6 times its 30-day average. The relative strength index was at 82.
There are no analysts tracking the company as per Bloomberg.
