Shares of Kaya gained over 3% after the company's board approved the investment of up to Rs 51 crore in Singapore-based subsidiary KME Holdings.
The investment is for a buyout of a minority stake in Kaya Middle East FZC, a UAE-based subsidiary of KME Holdings.
Kaya Ltd is currently trading at Rs 935, up by Rs 31.6 or 3.5% from its previous closing of Rs 903.4 on the BSE.
The scrip opened at Rs 913 and has touched a high and low of Rs 943.05 and Rs 908.9 respectively. The stock is currently trading above its 100 DMA.