Reliance Industries (RIL)-promoted Alok Industries shares jumped 15% on Tuesday, hitting the day’s high of Rs 23.20 on the NSE, following U.S. President Donald Trump’s announcement of a 35% tariff on imports from Bangladesh. The decision is expected to impact Bangladesh’s apparel and textile sector, benefiting Indian counterparts.

The stock saw significant investor interest, with over 26 crore shares changing hands on the NSE around 2 PM. The total traded value stood at Rs 591.74 crore.

RIL holds a 40.01% equity stake in the company.

Alok Industries has been in strong form over the past three months, gaining 54%, significantly outperforming the benchmark indices Nifty and Sensex, which have each risen around 14% during the same period.

However, its one-year return remains negative at 19%, compared to 4.7% for the Nifty and 4.4% for the 30-stock BSE Sensex.

The recent rally has pushed the stock above its 50-day and 200-day simple moving averages of Rs 19 and Rs 20, respectively.Despite this momentum, Alok Industries shares have been volatile, with a 1-year beta of 1.2, according to Trendlyne data.Founded in 1989 with its first polyester texturizing plant, Alok Industries has since diversified into weaving, knitting, processing, home textiles, and garments, maintaining high quality standards. It now operates as a diversified manufacturer of textiles, garments, fabrics, and yarns.

Shares of other Indian textile companies, including Gokaldas Exports, KPR Mill, Vardhman Textiles, and Arvind Ltd, were also in focus.

Also Read: Gokaldas Exports, other textile stocks zoom up to 8% as US slaps 35% tariff on Bangladesh

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