JK Defence and Aerospace Ltd receives approval for investment proposal

JK Defence & Aerospace Limited, Wholly Owned Subsidiary ("JKDAL") of Jaykay Enterprises Limited, has been accorded an approval from the Office of the Commissioner for the Industrial Development and Director of Industries and Commerce, Government of Karnataka w.r.t. the investment proposal of JKDAL to establish a unit for manufacture of "Precision Turned Components and all types of Engineering Goods for the Defence, Aerospace and other Allied Industries including assembling in all kinds of products of Defence and Aerospace Equipments".

The approval includes allotment of 5 acres of land from KIADB at Devanahalli General Industrial Area (ITIR), Bangalore Rural District and necessary permission for water and power connections and associated NOC(s) from state industry authority. The unit will be eligible for incentives and concession as per applicable policy of the State.

Shares of JAYKAY ENTERPRISES LTD. was last trading in BSE at Rs. 120.60 as compared to the previous close of Rs. 126.90. The total number of shares traded during the day was 22973 in over 184 trades.

The stock hit an intraday high of Rs. 125.05 and intraday low of 120.60. The net turnover during the day was Rs. 2770798.00.

Source : Equity Bulls

Keywords

JAYKAYENTERPRISES INE903A01025 JKDefenceandAerospace InvestmentApproval