RIL-backed Alok Industries shares hit 20% upper circuit limit; here's what analysts say

Shares of Alok Industries Ltd zoomed 20 per cent to hit their upper price band of Rs 19.76 on Tuesday. The spike came after the Reliance Industries Ltd (RIL)-backed entity narrowed its consolidated net loss to Rs 74.47 crore during the March 2025 quarter (Q4 FY25) as against Rs 272.99 crore recorded in the previous quarter (Q3 FY25). A one-time exceptional gain of Rs 94.14 crore aided the company's earnings, helping it to cut losses.

During the quarter under review, the company's revenue from operations climbed 19.24 per cent sequentially to Rs 1,038.10 crore compared to Rs 870.63 crore in Q3 FY25. Total expenses slipped 5.96 per cent, quarter-on-quarter (QoQ) to Rs 1,206.34 crore.

"Stock-wise, Alok Industries has not been able to sustain above Rs 30 level. Fundamentally, there are no key triggers for the counter as of now," said Kranthi Bathini, Director of Equity Strategy at WealthMills Securities.

On technical setup, support on the counter could be seen at Rs 17.3 and a decisive breach above Rs 20 is required for further upside move.

"The stock looks strong and appears to be building a base to trade in the Rs 21–Rs24 range. Dips should be used to accumulate, with a stop-loss placed at Rs 15.50," said Kunal Kamble, Senior Technical Research Analyst at Bonanza Group.

"Support will be Rs 17.3 and resistance at Rs 20. A decisive move above Rs 20 level may trigger a further upside towards Rs 22. The expected trading range will be between Rs 17 and Rs 22 for the short term," said Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi.

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.