Stock under ₹10 hits upper circuit after acquiring 30,000 shares of a chemical company

Synopsis: The shares of the company gained investor traction after they announced a 30,000 share acquisition of Tobias Amines Limited for cash consideration of Rs 35.26 lakhs.

The shares of this company, whose operation includes sourcing Diamonds and Jewellery from primary and secondary source suppliers in the domestic market and sell to the wholesale as well as retail, are in focus after the chemical company share acquisition news.

With a market capitalization of Rs 147 crore, Starlineps Enterprises Ltd’s shares on Tuesday made a day high of Rs 4.05 per share, up by 5 percent from its previous day’s close price of Rs 3.86 per share. The share is trading at a P/E of 50.2x, which is half of the average industry P/E.

What happened

StarlinePS Enterprises Limited announced that on January 5, 2026, it signed an MoU to acquire a 12.15 percent stake in Tobias Amines Limited, for a cash consideration of Rs 35.26 lakh at Rs 116.10 per share from promoters and exiting shareholders, including Nishant Mineshbhai Shah and Rajeshkumar Baldevbhai Patel, on or before February 28, 2026.

About the target company: Tobias Amines Limited specialises in manufacturing intermediates for food colors, dyes and speciality chemicals, along with offering Contract Research and Manufacturing Services (CRAMS) to meet the evolving needs of various industries, with decades of experience in the chemical industry. The target company, incorporated on July 29, 2022 and operates in the chemical industry, has reported a turnover of Rs 54.6 lakhs in FY 2024-25 

About the company

 Incorporated in 2011, Starlineps Enterprises Ltd is in the business of Precious Metals, Stones & Jewellery Trading.  SPSL is in the wholesale B2B model of trading and retailing of Diamonds and Jewellery in Surat. Its operation includes sourcing Diamonds and Jewellery from primary and secondary source suppliers in the domestic market and sale to the wholesale as well as retail operations mainly in Gujarat. 

The Promoters of the company have increased their stake from 31.51 percent in Q4 FY25 to 39.12 percent in October 2025, showing promoter confidence in the company. On the other hand, Public holdings went down to 60.88 percent in the same period.

Financial highlights: the revenue from operations grew by 50.8 percent in Q2 FY26 to Rs 36.86 crore, corresponding to the same quarter in the last financial year. Net profit declined by 51.69 percecnt YoY in Q2 FY26 to Rs 1.57crore, and the EPS declined to Rs 0.04 per share YoY in Q2 FY26. Resulting in a ROCE of 29.8 percent and ROE of 22.2 percent, showcasing healthy capital allocation by the company.

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