Penny Stock Under Rs 10 hit upper circuit as Board to consider and evaluate proposals for raising of funds!

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Penny Stock Under Rs 10 hit upper circuit as Board to consider and evaluate proposals for raising of funds!

The stock is down by 12.4 per cent from its 52-week high of Rs 6.79 per share but has given multibagger returns of over 200 per cent from its 52-week low of Rs 1.90 per share.

On Monday, shares of Starlineps Enterprises Ltd hit a 5 per cent Upper Circuit to Rs 5.95 per share from its previous closing of Rs 5.67 per share. The stock’s 52-week high is Rs 6.79 per share and its 52-week low is Rs 1.90 per share.

  1. The Board of Directors of the Company is scheduled to be held on Saturday, January 24, 2026, at 01:00 p.m. at the Registered Office of the Company to inter alia, consider the following businesses:
  2. To increase the authorised share capital of the Company.
  3. To alter the Object Clause of the Memorandum of Association of the Company.
  4. To consider and evaluate proposals for Raising of funds through the issue of equity shares, convertible warrants or any such securities to the promoter/non-promoters on a preferential basis, in accordance with the relevant provisions of applicable law and subject to approval of the shareholders of the Company and receipt of applicable regulatory approvals. 
  5. To appoint a Scrutinizer to ascertain the voting process of the Extraordinary General Meeting of the Company
  6. To fix the day, date, time and place to call and convene an Extraordinary General Meeting of the Company.
  7. To transact any other business with the permission of the Chair.
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About the Company

Starlineps Enterprises Ltd, established in 2011, is a Surat-based wholesale and retail trader of diamonds and jewellery. The company sources its products domestically and distributes them to manufacturers, wholesalers and retailers primarily in Gujarat. Their product range includes precious stones and jewellery & they offer trading services for various precious metals, stones and ornaments.

In FY25, the company reported revenue of Rs 73.35 crore and PAT of Rs 6.57 crore. The promoters of the company holds 36.15 per cent stake in the company while the remaining 63.85 per cent stake is owned by public shareholders.

The company has a market cap of Rs 216 crore. The stock is down by 12.4 per cent from its 52-week high of Rs 6.79 per share but has given multibagger returns of over 200 per cent from its 52-week low of Rs 1.90 per share.

Disclaimer: The article is for informational purposes only and not investment advice.