Footwear stocks climb as Govt. extends Foreign Trade Policy; Khadim up 10%

The Govt. has decided to continue relief under various export promotion schemes by granting an extension of the existing Foreign Trade Policy by another one year i.e. up to March 31, 2021.

Apr 01, 2020 11:04 IST India Infoline News Service

Liberty Shoes
The Union Commerce and Industry Ministry on Tuesday has announced changes in the Foreign Trade Policy (FTP) of Government of India. The present Policy which came into force on April 1, 2015, is for 5-years and has validity up to March 31, 2020.

In view of the unprecedented current situation arising out of the pandemic Novel COVID-19, the Govt. has decided to continue relief under various export promotion schemes by granting an extension of the existing Foreign Trade Policy by another one year i.e. up to March 31, 2021. Several other relief measures have also been announced to support trade and industry.

Reacting to this news, shares of footwear companies gained in an otherwise weak market.

Shares of Khadim India, Mirza International and Liberty Shoes surged in the range of 10-4%, respectively.

Stock view:
Khadim India Ltd is currently trading at Rs84.50 up by Rs8.05 or 10.53% from its previous closing of Rs76.45 on the BSE.
Liberty Shoes Ltd is currently trading at Rs107.50 up by Rs5.1 or 4.98% from its previous closing of Rs102.40 on the BSE.
Mirza International Ltd is currently trading at Rs40.25 up by Rs3.6 or 9.82% from its previous closing of Rs36.65 on the BSE.

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