This Reliance-Owned Stock Rebounds 7% Today After Crashing to 52-Week Low On March 3rd; Do You Own?

Shares of Reliance-owned Alok Industries surged 7% today after hitting a 52-week low on March 3rd. The broader market remains under intense selling pressure, with both Sensex and Nifty slipping 2.4% over the last two days.

Alok Industries Share Price Today

Alok Industries, a BSE 500-listed textile company, witnessed a strong recovery on March 4, surging 6.79% to trade at Rs. 15.89 at the time of writing. This rebound comes after the stock hit a fresh 52-week low of Rs.14.50 in the previous session as the broader market tanked.

However, Alok Industries shares have faced significant declines in recent months. Over the past month, the stock has lost nearly 14% of its value, while in six months, it has plunged by 41.15%. So far in 2024, the stock is down by 25% due to overall market volatility and the company's weak Q3 FY25 performance.

Alok Industries Q3 FY25 Financial Performance

The small-cap textile stock posted significant losses in Q3 FY25 with weak financial performance. As per the LiveHindustan report, for the quarter ending December 31, 2024, Alok Industries reported a net loss of Rs. 273 crore, widening from Rs. 229.92 crore in the same quarter last year. Revenue from operations saw a sharp 31.06% decline, dropping to Rs. 863.86 crore from Rs. 1,253.03 crore year-over-year.

For the nine-month period ending December 31, 2024, the company's losses expanded to Rs. 741.96 crore, compared to Rs. 630.89 crore in the previous year. Meanwhile, revenue slumped 31.8% to Rs. 2,755.82 crore.

Alok Industries Shareholding Pattern

Reliance Industries holds a 40.01% stake in Alok Industries, while JM Financial Asset Reconstruction Company owns 34.99%, bringing the total promoter holding to 75%. The remaining 25% stake is held by public shareholders.

About Alok Industries Ltd.

Established in 1986, Alok Industries Limited is a major textile company headquartered in Mumbai. The company operates across five key divisions: Home Textiles, Cotton Yarn, Apparel Fabric, Garments, and Polyester Yarn. Alok Industries is owned by Reliance Industries, and the company's market capitalization stands at Rs. 7,874.9 crore on 4th March, making it one of the more prominent players in the textile industry. However, despite its strong presence, the company's Return on Equity (ROE) is currently at 4.88%, and it has not announced any dividends recently.