Wal-Mart order denial hurts Mirza Tanners

DALAL STREET SPIKES

Kanpur-based Mirza Tanners hit the 10 per cent lower limit at Rs 88.10, off its high of Rs 109.70, on selling pressure after the company denied rumours that it had won a sizeable export order from US retailer Wal-Mart. More than 2.43 lakh shares changed hands on the counter through 3,344 trades.

The scrip has been zooming over the last few days on rumours that the company had bagged an order from Wal-Mart.

In a communication to the stock exchange, Mirza Tanners said: "The company has exported substantial quantities of footwear in the last few years to reputed companies like Rockport, Value America and Aldo Group. However, we have not entered into any specific large contract recently."