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Footwear makers gain on reduction in excise duty

Liberty Shoes, Bata India, Relaxo Footwears and Mirza International were up 2-6% on BSE.

Shares of footwear maker have rallied by up to 6% on BSE after the finance minister Arun Jaitely proposed to reduce excise duty on leather footwear to 6%. Liberty Shoes has rallied 6.5% to Rs 299, followed by Bata India (up 5% at Rs 1,287), Relaxo Footwears (4% at Rs 735) and Mirza International (2% at Rs 92). Read our full coverage on Union Budget Leather footwear incentives to benefit companies like Bata India and leather manufacturers.