The announcement was made after market hours yesterday, 13 January 2015.

Meanwhile, the BSE Sensex was up 29.13 points, or 0.11%, to 27,454.86.

On BSE, so far 6.70 lakh shares were traded in the counter, compared with an average volume of 27.15 lakh shares in the past one quarter.

The stock hit a high of Rs 11.55 and a low of Rs 11.15 so far during the day. The stock hit a 52-week high of Rs 16.32 on 11 June 2014. The stock hit a 52-week low of Rs 5.80 on 26 March 2014.

The stock had underperformed the market over the past one month till 13 January 2015, sliding 0.64% compared with 0.27% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.84% as against Sensex's 3.95% rise.

The small-cap company has an equity capital of Rs 1377.32 crore. Face value per share is Rs 10.

Alok Industries said that it received an initial advance of $250 million (about Rs 1550 crore) from State Bank of India (SBI) under the Export Performance Bank Guarantee scheme. SBI had earlier sanctioned a loan of up to $1633.33 million (about Rs 9800 crore) to the textile major. Alok said it is confident of receiving the balance amount of up to $1383.33 million from SBI in regular tranches in the near future.

Alok Industries' net profit declined 53.2% to Rs 45.36 crore on 0.4% growth in net sales to Rs 3744.84 crore in Q2 September 2014 over Q2 September 2013.

Alok Industries is India's largest fully integrated textile company with a dominant presence in the cotton and polyester segments.