Shares of leather and footwear companies were in focus, ralliying by up to 9% on the BSE in early morning trade on hopes of incentive package from the government. Superhouse, Relaxo Footwear, Mirza International, Mayur Leather, Liberty Shoes, Bata India, and Khadim India were up in the range of 2% to 9% on the BSE.
On comparison, the S&P BSE Sensex was up 0.30% at 33,578 points at 09:39 AM. According to PTI report, the Union Cabinet is expected to soon take a decision on Rs 2,600 crore incentive package for the labour-intensive leather and footwear sector to boost exports and job creation. The ministry has sought tax incentives for the footwear, leather, and accessories development programme. The final proposal has been sent to the cabinet and "we are hopeful that the cabinet would soon take a decision on this, the report suggested quoting official sources. CLICK HERE TO READ FULL REPORT.
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