Scrutiniser Report alongwith results of Postal Ballot is enclosed
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.4 pts more than Nifty Microcap 250 and 1.5 pts more than its Industrial Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Josts Engineering Company Ltd conducted a postal ballot where shareholders approved a special resolution to sell 100% of its shareholding in material subsidiary JECL Engineering Limited. The resolution passed with overwhelming support, with 98.37% of votes cast in favor (7,539,449 shares) versus just 1.63% against (125,177 shares). The promoter group unanimously backed the sale with 100% of their 5,683,958 shares voted in favor. Overall voting participation stood at 64.81% of total shareholdings (7,664,626 shares out of 11,826,643), with 88 members voting in favor and only 8 against.
Shareholders have cleared the company to proceed with the full divestment of its material subsidiary JECL Engineering Limited. The near-unanimous approval suggests strong shareholder confidence in management's strategic decision. The actual impact on stock price will depend on the sale price, buyer identity, and intended use of proceeds, which have not been disclosed in this filing.