Shares of textiles manufacturer Alok Industries rallied almost 16 percent in trade on Friday, spiking for the 3rd time this week, after Reliance Industries invested ₹3,300 crore in the company.
RIL is a promoter and holds 40.01% of equity share capital of Alok Industries. The company was acquired by Reliance and JM Financial ARC in 2019 under the corporate insolvency resolution process.
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