Alok Industries slips on parting ways with Savile Row

Stocks down nearly 1%

Mumbai-based textile major, Alok Industries slipped nearly 1% to Rs 9.99 as the company decided to part ways with London-based Savile Row Co.

Since Alok is looking at exiting all its retail ventures, both-Alok and Savile Row have mutually decided to end this agreement, said sources. Meanwhile, Savile Row has already started scouting for new partners in the country.

The stock opened at Rs10 on the BSE and NSE. A total of three lakh shares changed hands in the opening trades.