Alok Industries freezes at 5% lower circuit after huge block deals

As of March 2020, the promoters held 6.15 per cent stake in Alok Industries

Shares of Alok Industries were locked in the lower circuit of 5 per cent at Rs 12.58, falling 9.5 per cent from its early morning high on the BSE on Wednesday, after a nearly 2 per cent of the total equity of the company changed hands on bourses till 11:00 am. Reliance Industries (RIL) held nearly 71 per cent stake (on diluted share capital) in the textile company.

The stock hit an intra-day high of Rs 13.90 today and has seen a strong run-up in the price, in the past one-and-half months. It has zoomed 255 per cent or 3.5