Alok Industries surges on receiving $250 million from SBI

15 Jan 2015

Alok Industries is currently trading at Rs. 10.98, up by 0.13 points or 1.20% from its previous closing of Rs. 10.85 on the BSE.

The scrip opened at Rs. 11.16 and has touched a high and low of Rs. 11.27 and Rs. 10.90 respectively. So far 839472 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 16.32 on 11-Jun-2014 and a 52 week low of Rs. 5.80 on 26-Mar-2014.

Last one week high and low of the scrip stood at Rs. 11.65 and Rs. 9.90 respectively. The current market cap of the company is Rs. 1523.31 crore.

The promoters holding in the company stood at 39.33% while Institutions and Non-Institutions held 13.27% and 47.40% respectively.

Alok Industries has received an initial advance of $250 million (about Rs 1,550 crore) from State Bank of India (SBI) under the Export Performance Bank Guarantee scheme. The bank had earlier sanctioned a loan of up to $1,633.33 million (Rs 9,800 crore) to the textile major. The company is confident of receiving the balance amount of up to $1,383.33 million.

Alok Industries evolved from a small trading business into India’s largest integrated textiles player. It is present across various verticals of the textile value chain - from yarn manufacturing to garmenting.

 

Related Alok Industries Ltd. Links:

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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