Budget 2015: Footwear stocks surge up to 10 per cent on excise duty relief

MUMBAI: Shares of footwear makers rose up to 10.2 per cent today following the reduction of excise duty announced in the Budget.

Shares of Liberty Shoes soared 10.24 per cent, Relaxo Footwears (6.67 per cent), Bata India (5.87 per cent) and Mirza International (3.99 per cent), on the BSE.

Excise duty on footwear with leather uppers and having retail price of more than Rs 1,000 per pair has been reduced to 6 per cent, from 12 per cent earlier, Finance Minister Arun Jaitley said in the Budget speech.

Meanwhile, the broader benchmark BSE Sensex was trading lower by 292.16 points at 28,927.96 in afternoon session.