Shares of Alok Industries, a Reliance Industries Ltd (RIL)-backed company, plummeted to a 52-week low on Friday, accompanied by an unusually high surge in trading volume. The significant activity prompted stock exchanges to seek clarification from the textile manufacturer.
During intraday trade, the penny stock dropped 12.26 percent, reaching a low of Rs 9.16 before closing 11.40 percent down at Rs 9.25 on the BSE. This marks a 20.12 percent decline over the past week and a 46.72 percent fall over the last year.
Trading activity was exceptionally high, with approximately 50.10 lakh shares exchanged on the BSE, drastically exceeding the two-week average volume of 5.39 lakh shares. The total turnover for the day stood at Rs 4.77 crore, with the small-cap company maintaining a market capitalization of Rs 4,592.85 crore.
In response to inquiries from BSE and NSE regarding the increased trading volume, Alok Industries stated that it had made all necessary disclosures under SEBI regulations. The company affirmed that no unannounced information should have been disclosed to the stock exchanges.
"We have made and will continue to make disclosures in compliance with our obligations under the Listing Regulations and our agreements with the stock exchanges," the company further clarified.
On the financial front, Alok Industries reported a consolidated net loss of Rs 138.25 crore for the quarter ending June 30, 2026 (Q1 FY27). This represents an improvement from the Rs 171.56 crore net loss recorded in the same quarter of the previous fiscal year. Revenue from operations, however, saw a 6.50 percent year-on-year increase, reaching Rs 993.11 crore.
As of June 2026, Reliance Industries Ltd held a 40.01 percent stake in Alok Industries, while JM Financial Asset Reconstruction Company owned 34.99 percent.