Kretto Syscon has successfully concluded its Extra-Ordinary General Meeting through a postal ballot with remote e-voting, resulting in the approval of two significant resolutions that will impact the company's capital structure.

Resolutions Passed

1. Increase in Authorized Share Capital: Shareholders approved an increase in the company's authorized share capital, along with a consequent alteration to the Capital Clause of the Memorandum of Association. This resolution received 70.65% votes in favor and 29.35% against.

2. Issue of Bonus Shares: The proposal to issue bonus shares garnered overwhelming support, with 99.93% of votes cast in favor and only 0.07% against.

Voting Details

The e-voting period for these resolutions ran from July 18 to August 16. A total of 174 members participated in the voting process, representing 1,202,635 shares. The voting results were as follows:

Scrutinizer's Report

CS Himanshu Togadiya of H Togadiya & Associates, Practicing Company Secretaries, served as the scrutinizer for the e-voting process. The scrutinizer confirmed that both resolutions were passed with the requisite majority.

Shareholder Base

As of the record date of July 11, Kretto Syscon had 90,590 shareholders on record.

Company Statement

Tushar Shah, Managing Director of Kretto Syscon, countersigned the scrutinizer's report, confirming the successful passage of both resolutions. The company has filed the voting results and scrutinizer's report with the BSE Limited in compliance with SEBI regulations.

The approval of these resolutions paves the way for Kretto Syscon to implement changes in its capital structure, which could potentially benefit shareholders through the issuance of bonus shares.

Kretto Syscon , a penny stock trading on the Indian stock market, has recently caught investors' attention with a remarkable 40% surge in its share price. The company's stock has reached a new 52-week high of ₹2.15, showcasing significant momentum in the lead-up to its upcoming financial results announcement.

Key Highlights

• Share Price Surge: Kretto Syscon's stock has experienced a substantial 40% increase in recent trading sessions.
• 52-Week High: The company's shares touched a new peak of ₹2.15, marking their highest point in the past year.
• Market Capitalization: Kretto Syscon's current market cap has surpassed ₹116.00 crores, reflecting growing investor interest.
• Valuation Metrics: The stock is currently trading at a price-to-earnings (P/E) ratio of 22.00, indicating investors' positive sentiment and growth expectations.

Upcoming Financial Results

Investors and market analysts are eagerly awaiting Kretto Syscon's financial performance update, as the company is set to release its Q4 and FY 2024-25 results on April 24. This imminent announcement has likely contributed to the recent surge in stock price, as market participants position themselves ahead of the earnings report.

Investor Considerations

While the recent stock performance has been impressive, it's important for investors to approach penny stocks with caution. The significant price movement and relatively high P/E ratio suggest that market expectations are elevated. As always, investors should conduct thorough research and consider their risk tolerance before making investment decisions, especially in the volatile penny stock segment.

The upcoming earnings announcement on April 24 will provide crucial insights into Kretto Syscon's financial health and operational performance, potentially influencing future stock price movements. Market participants will be closely watching key financial metrics and any forward-looking statements from the company's management to gauge the sustainability of the recent stock price rally.