RIL-backed Alok Industries shares jump 16%; analysts recommend profit booking
A market expert said textile stocks, including Alok Industries, are in the spotlight today after the US administration under President Donald Trump imposed a 35 per cent tariff on Bangladesh -- a move expected to benefit the domestic apparel and textile sector.
- Jul 8, 2025,
- Updated Jul 8, 2025 12:10 PM IST
Shares of Alok Industries surged 15.55 per cent in Tuesday's trade, hitting a day high of Rs 23.19. At last check, the stock was up 14.45 per cent at Rs 22.97. With this upmove, it has gained 17.67 per cent over the past month.
The scrip saw heavy trading volume on BSE along with the price action as around 1.67 crore shares were last seen changing hands. The figure was way more than the two-week average volume of 17.60 lakh shares. Turnover on the counter came at Rs 37.59 crore, commanding a market capitalisation (m-cap) of Rs 11,410.12 crore.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said textile stocks, including Alok Industries, are in the spotlight today after the US administration under President Donald Trump imposed a 35 per cent tariff on Bangladesh -- a move expected to benefit the domestic apparel and textile sector. He, however, advised investors to book profits in the Reliance Industries Ltd-backed stock at current levels.
From a technical standpoint, the stock has support at Rs 21.75, while immediate resistance is seen near Rs 23.80 level.
Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, recommended that investors consider exiting the stock around Rs 25 level, citing today's sharp upward movement.
According to Sebi-registered independent analyst AR Ramachandran, "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."
The counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). It has a negative price-to-earnings (P/E) ratio of 14.75 against a price-to-book (P/B) value of (-)0.61. Earnings per share (EPS) stood at (-)1.55 with a return on equity (RoE) of 4.13. According to Trendlyne data, Alok Industries has a one-year beta of 1.2, indicating high volatility.
As of March 2025, RIL holds a 40.01 per cent stake in Alok Industries, whereas JM Financial Asset Reconstruction Company owns 34.99 per cent.
Shares of Alok Industries surged 15.55 per cent in Tuesday's trade, hitting a day high of Rs 23.19. At last check, the stock was up 14.45 per cent at Rs 22.97. With this upmove, it has gained 17.67 per cent over the past month.
The scrip saw heavy trading volume on BSE along with the price action as around 1.67 crore shares were last seen changing hands. The figure was way more than the two-week average volume of 17.60 lakh shares. Turnover on the counter came at Rs 37.59 crore, commanding a market capitalisation (m-cap) of Rs 11,410.12 crore.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said textile stocks, including Alok Industries, are in the spotlight today after the US administration under President Donald Trump imposed a 35 per cent tariff on Bangladesh -- a move expected to benefit the domestic apparel and textile sector. He, however, advised investors to book profits in the Reliance Industries Ltd-backed stock at current levels.
From a technical standpoint, the stock has support at Rs 21.75, while immediate resistance is seen near Rs 23.80 level.
Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, recommended that investors consider exiting the stock around Rs 25 level, citing today's sharp upward movement.
According to Sebi-registered independent analyst AR Ramachandran, "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."
The counter traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). It has a negative price-to-earnings (P/E) ratio of 14.75 against a price-to-book (P/B) value of (-)0.61. Earnings per share (EPS) stood at (-)1.55 with a return on equity (RoE) of 4.13. According to Trendlyne data, Alok Industries has a one-year beta of 1.2, indicating high volatility.
As of March 2025, RIL holds a 40.01 per cent stake in Alok Industries, whereas JM Financial Asset Reconstruction Company owns 34.99 per cent.