Why did Mukesh Ambani-backed Alok Industries' share price surge 18% after Q4 results?
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Alok Industries share price opened at ₹17.36 against its previous close of ₹16.47 and rose as much as 18.4 per cent to an intraday high of ₹19.50. With this, the stock has jumped 25 per cent in April so far, looking set to snap its losing streak of the last seven consecutive months.
Around 10:10 AM on Tuesday, the stock traded 17.85 per cent higher at ₹19.41.
Alok Industries share price recently hit a 52-week low of ₹13.90 on April 7 this year. It hit a 52-week high of ₹29.97 on June 19 last year. As of April 21 close, the stock is down 45 per cent from its one-year high level.
Why did Alok Industries' share price rise after the Q4FY25 results?
The textile firm's consolidated net loss narrowed to ₹74.47 crore in Q4FY25 compared to a loss of ₹272.99 crore quarter-on-quarter and ₹215.93 crore year-on-year.
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The significant drop in losses seems to have influenced investor sentiment.
A sequential rise of 10 per cent in Alok Industries' consolidated revenue from operations also boosted sentiment.
The company's consolidated revenue for Q4FY25 stood at ₹952.96 crore which was 35 per cent down from the revenue of ₹1,469.31 crore in Q4FY24 but was up 10.3 per cent from ₹863.86 crore in Q3FY25.
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