GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Footwear stocks climb 5% on govt's new scheme announcement

Footwear stocks gained as much as 5 percent on Wednesday after Finance Minister Arun Jaitley announced plans to launch a scheme for the labour intensive leather and footwear sector that will boost its growth and create new jobs.

Press Trust Of India

Updated:February 1, 2017, 1:16 PM IST
facebookTwittergoogleskypewhatsapp
Footwear stocks climb 5% on govt's new scheme announcement
Representative image

New Delhi: Footwear stocks gained as much as 5 percent on Wednesday after Finance Minister Arun Jaitley announced plans to launch a scheme for the labour intensive leather and footwear sector that will boost its growth and create new jobs.

Shares of Liberty Shoes surged 5 percent, Mirza International climbed 4.79 percent, Relaxo Footwears gained 2.96 percent, Superhouse (2.92 percent) and Bata India (0.91 percent) on BSE.

The scheme will be on the lines of the package announced for the textiles sector in June last year.

"A special scheme for creating employment in the textiles sector has already been launched. A similar scheme will be implemented for the leather and footwear sector," Jaitley said.

Indian leather manufacturers are facing tough competition from the Chinese in terms of pricing. The government aims to increase the sectoral exports to $15 billion by 2020 from the current $7 billion.

Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
HDFC Life 344.40 +54.40 +18.76
SBI 337.50 +4.10 +1.23
HDFC 1,705.50 +41.10 +2.47
ICICI Bank 325.10 +6.15 +1.93
Bank of Baroda 183.55 +0.75 +0.41
Company Price Change %Gain
HDFC Life 343.70 +53.70 +18.52
ICICI Bank 325.10 +5.95 +1.86
SBI 337.40 +3.95 +1.18
Rain Industries 329.75 -17.35 -5.00
PNB 190.70 +1.25 +0.66
Top Gainers
Company Price Change %Gain
Tata Power 88.95 +4.15 +4.89
Cipla 608.55 +15.70 +2.65
HDFC 1,705.50 +41.10 +2.47
Maruti Suzuki 8,348.35 +184.65 +2.26
Tata Steel 701.20 +14.85 +2.16
Company Price Change %Gain
Cipla 608.65 +15.65 +2.64
HDFC 1,701.00 +37.05 +2.23
Maruti Suzuki 8,340.70 +175.20 +2.15
Tata Steel 701.35 +14.70 +2.14
Tata Motors 421.45 +7.95 +1.92
Top Losers
Company Price Change %Gain
Tech Mahindra 484.55 -15.35 -3.07
Infosys 970.95 -17.45 -1.77
Bosch 18,965.90 -292.55 -1.52
TCS 2,707.30 -39.35 -1.43
HCL Tech 840.00 -11.90 -1.40
Company Price Change %Gain
Infosys 970.95 -17.65 -1.79
TCS 2,710.10 -36.50 -1.33
ONGC 177.50 -1.85 -1.03
Wipro 294.75 -2.90 -0.97
Asian Paints 1,171.10 -8.95 -0.76

Live TV