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Footwear stocks end mixed; Mirza International stock jumps 6%

The expenditure finance committee, under the finance ministry, has already approved the commerce ministry's proposal, the media reports added.

September 06, 2021 3:46 IST | India Infoline News Service
Shares of Footwear companies were in focus today after the media reports said the government is likely to extend an incentive scheme for leather and footwear industries, IFLADP, till 2025-26 to further boost manufacturing, exports and job creation.

Further, the media reports also added that the commerce and industry ministry has submitted a proposal for the implementation of the Indian Footwear Leather and Accessories Development Programme (IFLADP) with an outlay of Rs1,700cr, to be incurred during 2021-22 to 2025-26.

Reacting to this news, Mirza International stock ended higher, however, other shares like Relaxo Footwear, Khadim India and Bata India ended on a negative note.

The expenditure finance committee, under the finance ministry, has already approved the commerce ministry's proposal, the media reports added.

The Council for Leather Exports (CLE) has also suggested the ministry for further extension of the scheme as it helps in upgrading infrastructure, boosting domestic manufacturing and increasing the country's exports, the media statement added.
Stock view:

Mirza International Ltd ended at Rs61.30 up by Rs3.75 or 6.52% from its previous closing of Rs57.55 on the BSE.

Relaxo Footwears Ltd ended at Rs1,203.60 down by Rs3.15 or 0.26% from its previous closing of Rs1,206.75 on the BSE.

Khadim India Ltd ended at Rs253.90 down by Rs1.65 or 0.65% from its previous closing of Rs255.55 on the BSE.

Bata India Ltd ended at Rs1,751 down by Rs21.35 or 1.2% from its previous closing of Rs1,772.35 on the BSE.

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The average score for Prestige Estates Projects Limited stands at 4 against 6, three months back.

Prestige Estates Projects Limited is engaged in the business of real estate development. The Company’s principal products/services include Development and construction

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