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The latest update is out from Alok Industries Limited ( (IN:ALOKINDS) ).
Alok Industries Limited announced that its subsidiary, Alok Industries International Limited, has entered into a Share Purchase Agreement with CRESCON, a.s. to sell its 100% equity stake in Mileta a.s. for EUR 558,825. Mileta, which contributes approximately 4.11% to Alok Industries’ consolidated turnover, will cease to be a subsidiary upon completion of the sale, expected by March 2026. This transaction, which is not a related party transaction, reflects Alok Industries’ strategic move to streamline its operations and focus on core business areas.
More about Alok Industries Limited
Alok Industries Limited operates in the textile industry, focusing on the manufacturing of textile fibers, fabrics, and other textile goods. The company is also involved in wholesale trade, yarn dyeing, and chemical processing of fabrics.
Average Trading Volume: 560,813
Technical Sentiment Signal: Sell
Current Market Cap: 80.44B INR
See more insights into ALOKINDS stock on TipRanks’ Stock Analysis page.