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.