Rekha Jhunjhunwala-owned stock zoomed 12% today; what's fuelling the rally?

Rekha Jhunjhunwala, wife of late ace investor Rakesh Jhunjhunwala, held a 4.8-per cent stake in Metro Brands at the end of December 2023

Rekha Jhunjhunwala-backed Metro Brands was ruling higher in Wednesday's weak session. At the bourses, shares of the footwear retailer soared 12.2 per cent to Rs 1,158 apiece on the BSE in in the intraday trade amid healthy volumes.

Rekha Jhunjhunwala, wife of late ace investor Rakesh Jhunjhunwala, held a 4.8-per cent stake in the company at the end of December 2023. Metro Brands, previously known as Metro Shoes, is a multi-brand footwear retail company, headquartered in Mumbai.

The company started in 1955, and has since evolved into a one-stop-shop for all footwear needs. As of December, 2023, the company operated