Cheering the news, shares of Relaxo Footwears surged 9.74 per cent, while Liberty Shoes climbed 8.50 per cent on the BSE
Similarly, shares of Mirza International Ltd soared 8.35 per cent and Bata India's stock jumped 4.50 per cent.
Excise duty on footwear reduced from 12 per cent to 6 per cent, Finance Minister Arun Jaitley said.
Excise duty is proposed to be reduced on footwear of retail price up to Rs 1,000 per pair.
Buying was also seen in the broader market, with the BSE's 30-share benchmark index Sensex surging 362.51 points to 25,807.32.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%