Footwear stock on strong footing

Footwear stocks seem to have put their best foot forward. Khadim, Bata India, Liberty Shoes and Mira International – all three stocks are very much in the limelight since yesterday.

These footwear stocks are up on unconfirmed news that the finance ministry was working with the Department of Industrial Policy and Promotion to provide incentives to the leather industry.

The talk is on for a reduction in the GST for leather goods and also provide export sops.

Bringing down GST on footwear that costs over Rs.1000 and increasing the 3% limit to 5% for duty free imports are the proposals being discussed.