Leather stocks get toe-up

Almost all the footwear or leather stocks are up. Relaxo Footwear, Liberty Shoes, Bata India, Mirza International, Superhouse and Sreeleathers; all the stocks are in the green. Though recently listed Khadim India is down in the red.

One month ago, the very same stocks were up on expectations of incentives coming in from the Govt and yesterday, it did come through.

The Govt announced incentives worth Rs.8450 crore for exporters in sectors such as leather and agriculture. The package for the leather sector was at Rs.2600 crore for the period between FY18 to FY20.

Data shows that Rs 1 crore investment in the sector results in creation of jobs for about 250 people. Currently, about 30 lakh people are directly employed in the leather/footwear industry.