Reliance Industries announced that the company in conjunction with JM Financial Asset Reconstruction Company submitted a resolution plan for Alok Industries. They have been informed that the plan did not meet with the approval of the Committee of Creditors of Alok Industries as required under the Insolvency and Bankruptcy Code.

The stock had underperformed the market over the past one month till Apr. 13, 2018, falling 0.19% compared with the Sensex's 0.99% rise. It underperformed the market in past one quarter, declining 2.03% as against 1.16% fall in the Sensex.

Shares of the company declined Rs 8.45, or 0.9%, to trade at Rs 930.40. The total volume of shares traded was 38,446 at the BSE (11.04 a.m., Monday).