Alok - BSE

Alok Industries Ltd has informed BSE that the Company has taken a 50% stake in Ashford Infotech Pvt Ltd, a part of the Ashford Group, through a wholly owned subsidiary, Alok Infrastructure Pvt Ltd for the joint development of realty projects. Ashford Infotech Pvt Ltd, now a joint venture Company between the Alok Group and the Ashford Group, has recently purchased the Bhandup land of CEAT Ltd, admeasuring around 6.92 acres for around Rs 130 crores and is proposed to be the first property to be taken up for development under the above mentioned joint venture.