Alok Industries Plummets: Mukesh Ambani-Backed Textile Firm Hits New Low

Alok Industries, a textile company backed by Mukesh Ambani's Reliance Industries, saw its shares plunge to a record low of Rs 15.81 on Tuesday, February 18, 2025. The stock fell over 5% intraday, reflecting the company's ongoing struggles in a competitive textile market amid challenging economic conditions. Alok Industries reported a widening consolidated net loss of Rs 273 crore for Q3 FY25, with revenue dropping 31.06% year-on-year. The company's underperformance is evident as it trades below multiple moving averages, signaling a bearish trend. Reliance Industries maintains a significant 40.01% equity stake in Alok Industries, highlighting the challenges faced even by Ambani-backed ventures in the current market climate.

 

Source: India.com