Budget 2025: Footwear stocks Relaxo Footwears, Mirza International surge up to 13% after FM announces scheme for sector | Stock Market News
Several footwear stocks, including Relaxo Footwears and Mirza International, surged up to 13 per cent in intraday trade on Saturday, February 1, after Finance Minister Nirmala Sitharaman, in her Budget 2025 speech, announced a focussed product scheme for footwear and leather sectors.
“Focus product scheme for footwear and leather sectors is expected to facilitate employment for 22 lakh persons, turnover of ₹4 lakh crore and exports of over ₹1.1 lakh crore,” the FM announced.
In addition to announcing the scheme for the sector, Sitharaman said steps will be initiated to make India a global toy manufacturing hub.
Stocks like AKI India, Bata India, Bhartiya International, Campus Activewear and Liberty Shoes also saw gains of up to 6 per cent.
The benchmark indices, Sensex and Nifty 50, traded higher amid volatility during Finance Minister Nirmala Sitharaman’s Budget speech.
Key sectors like defence, railways, infrastructure and banks are on investors’ radar amid the Budget impact on the share market. Historically, the Nifty 50 has exhibited intraday fluctuations within a 2-3 per cent range on Budget Day, presenting both opportunities and risks for traders.
