Shares of this small cap company traded 13% higher on Thursday’s first half after their annual figures came to sight the previous day.
The share prices of Alok Industries opened at Rs. 18 levels and gained nearly 13% to reach its intra- day high of Rs. 20.10. The stock has returned 22.26% and 42.8% in the last one and six months.
In 2019, after the insolvency of the company, Reliance Group bought a stake of 40.01% in the company.
The company currently has a market capitalization of Rs. 8,475.67 crore. Compared on a QoQ basis, the company has reported a reduction in revenue of 9.69%. In Q4FY23, the revenue stood at Rs. 1,561.5 crore which was Rs. 1,410.25 in Q1FY24. Its net loss has come down from Rs. -297.55 crore in Q4FY23 to Rs. -226.14 crore in Q1FY24.
According to its shareholding pattern, other than Reliance Industries, JM Financial Asset Reconstruction Company Limited has a stake of 34.99%. The public holds a total of 22.52% stake in the company.
Alok Industries, owned by Reliance Industries,is a textile manufacturing company incorporated in 1986. It is headquartered in Mumbai, India. It specialises in cotton and polyester related products such as cotton yarn, garments, home textiles, polyester yarn, and many more. The company has its manufacturing units set up in Navi Mumbai, Silvassa and Vapi.
Written by Bhumika Khandelwal
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