Alok Industries promoters hike stake; stocks up

MUMBAI: Shares of Alok Industries were witnessing buying activity after Niraj Realtors and Shares, a promoter group company, purchased 46,00,000 equity shares of the company on April 06, 2011 and April 08, 2011 in the open market under creeping acquisition.

The promoter group’s holding in the paid up capital of the company stands at 28.93% from 28.35%.

The stock was at Rs 25.20, up 3.92 per cent on the BSE. It touched a high of Rs 25.30 and low of Rs 23.90 in trade so far.