After Trump’s announcement, Mukesh Ambani’s company shares soared 17 per cent due to…, the company is…
Shares of Mukesh Ambani’s business, Alok Industries, jumped more than 17% on Tuesday. The stock price reached an intraday high of Rs 23.50, up from the previous close of Rs 20.07. This gain adds to a 17.67% rise in the last month. The stock was very active on the BSE, with significant trading volume and large price changes. Before Tuesday, about 16.7 million shares traded, far above the two-week average daily trading volume of 1.76 million shares. The total turnover on the counter was Rs 375.9 crore, giving the company a market capitalisation of Rs 11,410.12 crore.
Who are the major investors backing Alok Industries?
Kranti Bathini, Director of Equity Strategy at Wealthmills Securities, said that while textile stocks, including Alok Industrie,s will be in focus today as the U.S. administration under President Donald Trump imposed a tariff of 35% on Bangladeshi imports, thus it will provide an opportunity for the domestic players in the apparel and textile industry. Also, as of March 2025, Reliance Industries Limited (RIL) owns a 40.01% stake in Alok Industries, and JM Financial Asset Reconstruction Company owns 34.99%.
Which company backed by Mukesh Ambani saw a 17% surge?
While the advisors for stock-played, Kranti Bathini told investors to take profits in the Reliance Industries Limited-backed stock at current levels. Technically, support was at Rs 21.75 while immediate resistance was at Rs 23.80. Ravi Singh, Senior Vice President of retail Research at Religare Broking, in light of today’s sharp rally, told investors to think about exiting the stock around the Rs 25 level.
“Alok Industries is bullish but also overbought on daily charts with next resistance at Rs 23.8. Investors should be booking profits as a daily close below the support of Rs 21.75 could lead to a downward target of Rs 18.5 in the near term,” SEBI-registered independent analyst A.R. Ramachandran was quoted as saying by BusinessToday.
The counter has traded above the simple moving averages (SMA) for 5, 10, 20, 30, 50, 100, 150, and 200 days. The stock has a price-to-earnings (P/E) ratio of 14.75 and price-to-book (P/B) value of -0.61. According to the BusinessToday report, Earnings per share (EPS) stood at (-)1.55 with a return on equity (RoE) of 4.13.
As per Trendlyne data, Alok Industries has high volatility, with a one-year beta of 1.2. As of March 2025, RIL has a 40.01 per cent stake in Alok Industries while JM Financial Asset Reconstruction Company has a 34.99 per cent stake.
More details about Alok Industries?
One firm profiting from the recent momentum is Alok Industries, a textile producer founded in Mumbai in 1986. Alok is involved in both cotton and polyester and has a wide product profile, including yarns, garments, bedsheets, and towels. Alok has 100% vertical integration in its cotton supply chain, from spinning, weaving, to final processing, which provides for efficiency and quality control. In 2020, Reliance Industries Limited (RIL) acquired Alok along with JM Financial Asset Reconstruction Company through an insolvency auction. By March 2025 quarter, RIL owned 40%, whereas JM Financial shack their stakes amounting to 34.99%.
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