The country's stock market has been down in all four sessions of the current week. Sensex and Nifty50 are struggling due to the collapse of multiple heavyweight stocks like Reliance and HDFC Bank. But even in this situation, the stock price of a company in which Mukesh Ambani has invested has jumped.
The name of the company in which Mukesh Ambani's Reliance has a major investment is Alok Industries Limited. In Thursday's trading session, this stock price increased by 8.5 per cent to ₹17.21. Although this stock price declined in the first three sessions of this week, Alok Industries' shares bounced back on Thursday. By 11:30 AM on Thursday, 2 crore 33 lakh shares of this company had changed hands. Due to this massive trading volume, Alok Industries' share price increased.
Alok Industries is associated with the textile sector. This company has been in the market since 1986. This company's headquarters is in Mumbai. This company manufactures clothing from both cotton and polyester materials. Along with various types of clothing, this company also manufactures utility items like bed sheets and towels.
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Mukesh Ambani's company, Reliance Industries, has a major investment in this company. In 2020, Reliance Industries Limited acquired 40 per cent of this company. Additionally, JM Financial also purchased a 34.99 per cent stake in that company. This initiative was taken to reduce the debt burden from this company's shoulders.
In Thursday's trading session, Reliance's share price decreased by 2.23 per cent to ₹1,470. This company's share price has declined by more than 7 per cent in the last five trading sessions. However, Alok Industries' share price increased.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in the share market or any field involve risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
