The impact of the decline in the stock market is also seen on Mukesh Ambani’s company Alok Industries.

• On March 3, the stock reached a low of ₹ 14, which is also a 52-week’s low.
• The stock fell 1.60% to close at ₹ 15.94 on Thursday.
• It is among the companies of Mukesh Ambani whose shares are trading at a level of less than Rs 100.

Apart from this, Dane Networks and many other shares are also trading below ₹ 100.

The central government’s major decision on small savings schemes soon, Sukanya Samriddhi Yojana may change!

Alok Industries: A look at the company

Alok Industries is a major textile company.

Shareholding pattern:

• Promoters’ share: 75%
• Public shareholders stake: 25%

Whose major stake in the company is?

• Reliance Industries: 40.01%
• JM Financial Asset Reconstruction Company: 34.99%

Losses increased in quarterly results

• The company incurred a loss of ₹ 273 crore in the December quarter, compared to ₹ 229.92 crore in the same quarter last year.
• The company’s total income declined by 31.06% to ₹ 863.86 crore.

When did Alok Industries start?

• 1986: Jivarajka brothers started this company as a private limited firm.
• 1989: First Polyster Texcharizing Plant.
• 1993: Company becomes Public Limited Company.
• Now: Weaving, processing, home textile and dress have made its place in the industry.

The current status of the stock market

• The market remained closed due to Holi on Friday.
• The BSE Sensex 201 points closed on Thursday.
• The Nifty fell 73.30 points (0.33%) to close at 22,397.20.
• Selling was seen in realty, IT and auto sectors.