Indian textile firm Alok Industries hits 20-month high

Alok Industries

03/01/2024 07:29

(Adds block deal data and updates share move)
    ** Shares of textiles manufacturer Alok Industries  ALOK.NS 
up as much as 12.8% to 29.1 rupees, their highest level since
April 2022
    ** Stock on track for a fourth consecutive session of gains,
if trends hold 
    ** Reliance Industries  RELI.NS  on Tuesday said it invested
33 bln rupees ($396.06 mln) in ALOK by subscribing to
preferential shares of co
    ** Over 37 mln shares changed hands in 36 block deals in
range of 23.25-29 rupees a share - LSEG data
        ** Nearly 171 mln shares traded by 12:58 p.m. IST, 5.8x
the 30-day moving average
  
    ** ALOK rose 37.3% in 2023 after a near 40% slump in 2022




($1 = 83.3200 Indian rupees)

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))