Alok Industries is a textile company which has shown tremendous increase in sales but now with global recession it is becoming tough to maintain those sales numbers.
This stock was a multi bagger at some point when the market was good but now it is a stock that has to be traded very cautiously.
Also it has not become very tough in the textile industry to show growth because of lack of demand in the US and Europe markets.
Avoid this stock and instead but some other stocks like Punj Lloyd.
Note: A bulk deal for selling 3,000,000 shares at Rs 23.3 a share of Alok Industries was there yesterday.