Meanwhile, BSE Sensex was up 86.87 points or 0.44% to 19,619.10.
On BSE 12.96 lakh shares were traded in the counter. The scrip had an average daily volume of 9.39 lakh shares in the past one quarter.
The stock hit a high of Rs 85, a 52-week high for the stock. It hit a low of Rs 81.50 so far during the day. The stock had a 52-week low of Rs 50.45 on 5 March 2007.
Alok Industries outperformed the market over the past one month till 4 December 2007, gaining 21.25% compared to the Sensex's decline of 0.31%. It underperformed the market in the past one quarter, rising 15.69% compared to Sensex's rise of 26.44%.
The company's current equity is Rs 173.79 crore. Face value per share is Rs 10.
The current price of Rs 83 discounts Q2 September 2007 annualized EPS of Rs 10.01 by a PE multiple of 8.29.
The stake sale to private equity investors is likely to be completed by the end of current fiscal, reports suggest. Reports further add that Alok Infrastructure would be separately listed on the bourses once the deal is completed.
Alok Infrastructure, a 100% subsidiary of Alok Industries is developing a 180-acre textile special economic zone (SEZ) in Silvassa.
Meanwhile Alok Industries is setting up a terry-towels plant at the SEZ in Silvassa with initial production capacity of 40 tonnes per day, which later will be expanded to 60 tonnes per day.
Alok Industries is engaged in manufacturing and selling home textiles, apparel fabric, garments and polyester yarns.
The company's net profit rose 31.6% to Rs 42.97 crore on 11.4% growth in net sales to Rs 464.78 crore in Q2 September 2007 over Q2 September 2006