Budget 2025: Why Mirza International shares surged 15% along with other footwear stocks?

Shares of Mirza International Ltd., gained as much as 15%, along with other footwear stocks like Relaxo Footwear Ltd. and Bata India Ltd. after Finance Minister Nirmala Sitharaman’s announcements during her Union Budget speech 2025 in the Lok Sabha, on Saturday, February 1.

The Finance Minister said that the India will plan a new policy for leather and other footwear sectors.

The focus scheme for the footwear and leather sector will generate employment for 22 lakh people, generate investment worth over ₹4 lakh crore and exports worth ₹1.1 lakh crore, the minister in her Budget speech.

For financial year 2024, Mirza International reported overall revenue of ₹630 crore, of which ₹515 crore came from exports.
“The Company is looking to get upward movement from last achieved export turnover subject to global economic conditions,” Mirza International’s annual report for financial year 2024 said.Shares of Mirza International are trading 14.2% higher at ₹36.43.

Shares of Liberty Shoes are trading 6.5% higher at ₹421.

Shares of Relaxo Footwear are trading 4% higher at ₹573.5.

To be updated with more details.