Reliance-backed Alok Industries shares plunge nearly 56% year-to-date

Alok Industries is a company backed by Reliance Industries.

Its shares recently reached their lowest price in 52 weeks and have lost nearly 56% this year.

Stock exchanges noticed that the company’s trading volume had increased significantly.

They asked the company whether it had important information to disclose.

Alok Industries said it had followed all required disclosure rules.

The company still lost money during the April-to-June quarter.

Its loss was smaller than during the same quarter last year.

However, its revenue increased by 6.50%.