Budget 2025: Footwear stocks Relaxo Footwears, Mirza International surge up to 13% after FM announces scheme for sector
Budget 2025: Footwear stocks like Relaxo Footwears and Mirza International rose up to 13% on February 1 after the Finance Minister announced a focused product scheme for the footwear and leather sectors, potentially creating 22 lakh jobs and generating ₹4 lakh crore in turnover.
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’ radars amid the Budget's 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.
Expert take
"The footwear industry boost focuses on promoting high-quality long leather footwear. The sector aims to reach a market size of ₹4 lakh crore, with ₹1.01 lakh crore targeted for exports. This initiative will help India by strengthening the leather and footwear manufacturing sector, generating employment, and enhancing export revenue," said Oneeka Medh, Research Analyst, SAMCO Securities.
"Companies such as Bata India, Relaxo Footwear, and Liberty Shoes will benefit from increased domestic demand and global market expansion, making India a leading player in premium leather footwear manufacturing," Medh said.
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