Jaykay Enterprises Ltd executes MoU with Philips Machine Tools India Pvt Ltd

Jaykay Enterprises Limited ("the Company") has completed the execution of MoU on December 09, 2023 with Philips Machine Tools India Private Limited ("Phillips") 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 MoU allows parties to discuss and mutually agree the terms of setting up a Joint Venture LLP (Limited Liability Partnership) within 3 (three) months of the execution of this MoU. The Joint Venture aims at the following:

- 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 of machines systems & accessories into Philips Corp Machine tools supply chain.

- To explore possibilities of setting up of an Industry 4.0 Consulting & manufacturing systems.

Shares of JAYKAY ENTERPRISES LTD. was last trading in BSE at Rs. 94.42 as compared to the previous close of Rs. 89.93. The total number of shares traded during the day was 286611 in over 657 trades.

The stock hit an intraday high of Rs. 94.42 and intraday low of 90.00. The net turnover during the day was Rs. 27002810.00.

Source : Equity Bulls

Keywords

JAYKAYENTERPRISES INE903A01025 MoU PhilipsMachineTools