Monday, 4 April 2016

On the front foot! Footwear stocks end higher

Despite the benchmark indices gyrating fanatically till the mid-session and recovering sharply towards the fag-end on the back of increasing volatility ahead of the RBI monetary policy meeting to be held tomorrow, shares of footwear manufacturers rose significantly on improved demand among institutional investors.

Relaxo Footwears hit an upper circuit to Rs. 442.10, up by 19.99% on BSE. In a large block deal 30,200 shares of the company at a price of Rs. 425 changed hands on NSE. Relaxo Footwears Ltd ended at Rs. 442.1, up by Rs. 73.65 or 19.99% from its previous closing of Rs. 368.45 on the BSE. The scrip opened at Rs. 375 and touched a high and low of Rs. 442.1 and Rs. 375 respectively. A total of 2056862(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 4422.86 crore.

Meanwhile, the Delhi government has decided to roll back the hike of 5% in VAT on low-cost footwear, which was proposed in its Budget 2016-17.

Liberty Shoes Ltd ended at Rs. 168.2, up by Rs. 23.2 or 16% from its previous closing of Rs. 145 on the BSE. The scrip opened at Rs. 146.4 and touched a high and low of Rs. 171.8 and Rs. 145.4 respectively. A total of 1293760(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 247.08 crore.

Superhouse Ltd ended at Rs. 155.2, up by Rs. 16.9 or 12.22% from its previous closing of Rs. 138.3 on the BSE. The scrip opened at Rs. 140.8 and touched a high and low of Rs. 158.9 and Rs. 139 respectively. A total of 58546(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 152.48 crore.

Mirza International Ltd ended at Rs. 104.7, up by Rs. 7.25 or 7.44% from its previous closing of Rs. 97.45 on the BSE. The scrip opened at Rs. 98.3 and touched a high and low of Rs. 107.7 and Rs. 97.25 respectively. A total of 2708707(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 903.36 crore.

Bata India Ltd is currently trading at Rs. 522.65, up by Rs. 18.1 or 3.59% from its previous closing of Rs. 504.55 on the BSE. The scrip opened at Rs. 509.9 and has touched a high and low of Rs. 524.95 and Rs. 502.95 respectively. So far 1430252(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 6484.86 crore.

Sarup Industries Ltd is currently trading at Rs. 59, up by Rs. 1.75 or 3.06% from its previous closing of Rs. 57.25 on the BSE. The scrip opened at Rs. 64.75 and has touched a high and low of Rs. 64.75 and Rs. 58.65 respectively. So far 1619(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 18.61 crore.

http://www.indiainfoline.com/article/news-top-story/on-the-front-foot-footwear-stocks-end-higher-116040400260_1.html

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