Heavy buying witnessed: This small-cap stock zoomed 20 per cent in today’s session; do you own it?

Shares of the company saw a spurt in volume by more than 3.56 times on BSE.

Today, Jaykay Enterprises Ltd locked in the upper circuit on getting the nod to incorporate a Wholly Owned Subsidiary. The company shares are currently trading at an upper circuit limit of Rs 50.59, up by 8.43 points or 20.00 per cent from its previous closing of Rs 42.16 on the BSE. Shares of the company saw a spurt in volume by more than 3.56 times on BSE.

Jaykay Enterprises’ (JKE) board has approved the incorporation of ‘JK Defence & Aerospace’ (Proposed Company), as a Wholly Owned Subsidiary (WOS) of the Company on June 22, 2023. The incorporation of the WOS will leverage the growth opportunities to 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.

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 and a 52-week low of Rs 40.00

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

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.