Jaykay Enterprises Limited saw its shares jump more than 16% in today’s trade after announcing a major development through its step-down subsidiary, Allen Reinforced Plastics Limited. As of 3:06 PM, the shares were trading 10.01% higher at Rs 177.00.
The company confirmed that a Letter of Intent (LOI) previously received from BrahMos Aerospace Private Limited has now materialized into a definitive order valued at approximately ₹94.45 crore, including GST.
The order has been awarded for the manufacture of composite parts for BrahMos Aerospace, one of India’s leading defense joint ventures. According to the disclosure made under SEBI Listing Regulations, the contract is entirely domestic and will be executed as per the timelines and conditions outlined in the agreement.
Jaykay Enterprises clarified that neither its promoters nor group companies have any interest in BrahMos Aerospace, and the order does not fall under related-party transactions.
This contract win is expected to strengthen the company’s position in the high-growth defence manufacturing segment.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.