The Indian stock market has been in decline for some time now, but with this, there is a company whose stock is showing an upper circuit and it is a penny stock. Let us tell you that the name of the company is Alok Industries Limited, in the year 2020 Mukesh Ambani Bought a 37.7% stake in the company.
Let me tell you, this company bills the textile sector. The company was established in the year 1986. According to the data, this company runs a Polyester Texyizing plant. Earlier this company was Private Limited but in the year 1993, this company was made public limited. Mukesh Ambani ji had invested in this company to raise 250 crores. Tell me that this company has lost a big loss in the last quarter.
In the report for the month of December, the loss of this company was recorded at Rs 249 crore. On February 22, its share price was around ₹ 10.7, but after that, its share gained momentum and now it has reached around ₹ 12.24. Talking about the market cap of the day, it has become Rs 6077.45 crore.
Tell me that apart from Reliance Industries, JM Financial has also been invested in this company. This company has a lot of heavy debt which is about ₹ 22,976.81 Cr. It is, but in this company, the promoter in this company is 75 percent and the entire holding is with the promoters, there is nothing holding the holding play.
If seen at the present time, with 2021, there has been a decrease in the net sales of the cess company and the operating profit of the company has gone negative, after the year 2021, the company’s profit after tax is negative.