On Friday, the huge decline in the stock market also affected India’s biggest industrialist Mukesh Ambani’s companies. On the last trading day of the week, Ambani’s textile company Alok Industries shares fell to a 52 -week low.

During trading, the stock fell more than 3% to a low of ₹ 15.24.
At the end of the day, it closed at ₹ 15.37, showing a drop of 2.91% against the previous day’s ₹ 15.83.

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How did Alok Industries have Q3 (December quarter) results?

The company suffered a major loss during the quarter ended 31 December 2024:

A loss of ₹ 273 crore, which is more than a loss of ₹ 229.92 crore in the same quarter last year.
The total revenue of the company declined by 31.06% to ₹ 863.86 crore, which was ₹ 1,253.03 crore a year ago.
The total deficit reached ₹ 741.96 crore in the first 9 months, which was ₹ 630.89 crore in the same period last year.
The company’s total expenditure declined by 23.15% to ₹ 1,138.52 crore.
However, the salary spending of employees increased by 28.74% and it increased to ₹ 133.80 crore.

The results clearly suggest that the company’s financial condition remains weak, and the falling sale is increasing the pressure on the business.

Mukesh Ambani’s bet in Alok Industries

Alok Industries is owned by Reliance Industries and JM Financial Asset Reconstruction Company.

Promoters’ share – 75%
Public shareholders stake – 25%
Reliance Industries Station – 40.01%
JM Financial Asset Reconstruction share – 34.99%

Mukesh Ambani tried to revive it by investing in this company, but this investment is not looking much successful so far based on financial results.

The reason for the decline in the stock market

On Friday, there was heavy selling in global markets, which also affected the Indian stock market.

After the announcement of China’s additional duty on China products, there was upheaval in markets around the world.
Its pressure was also on the Indian market, causing the Sensex falling 1,414 points and the Nifty 420 points.
The shares of IT, Auto and Pharma sector recorded the biggest decline.

The decline affected the stocks of several companies including Alok Industries, causing them to reach a 52 -week low.

Should investors be worried?

If you have invested in Alok Industries’ shares, then it is necessary to be cautious in view of the quarterly results and market conditions.
The share price is at its 52 -week low, which may be a matter of concern for investors.
If the market continues to decline, further pressure can be created on this stock in the coming weeks.