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On January 31, the closing prices of four stocks from the Nifty500 pack rallied over 2.5% relative to the VWAP (Volume Weighted Average Price), and a shift above the VWAP suggests a potential bullish trend. ....
Alok Industries share price: Bourses BSE and NSE have put the securities of Alok Industries under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices. ....
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. ....
"The company has subscribed to 3300,00,00,000 9% non-convertible redeemable preference shares of Re 1/- each of Alok Industries, for cash at par, aggregating Rs 3,300 crore," RIL said in a filing. The acquisition of these preference shares is a related party transaction approved by shareholders of RIL and is on an arm s length basis. ....
Alok Industries has been a late bloomer, and it has taken almost the entire part of 2023 to bottom out and attempt a push higher, while the majority of stocks are on the other end of the spectrum. The stock has formed a rounding bottom pattern signalling the end of a prolonged downtrend, matured in late December 2023, but the breakout thereof has unfolded unfortunately at the most inopportune time, as the broader market is seen correcting from record peaks. ....