Finance Minister Nirmala Sitharaman, while presenting the budget on Saturday, gave a special gift to the footwear and leather sector of the country. He announced that a focused scheme would be launched to promote this sector, which will increase employment opportunities in this industry and also strengthen exports. Along with this, steps will also be taken to make India the world’s major toy manufacturing hub.
The positive impact of this announcement was clearly visible in the stock market.
AKI India shares rose by more than 10%
The shares of Aki India LTD, a leather sector -linked company, saw a strong lead of 10.16% on Saturday. The company’s shares rose to closed at Rs 10.52. This edge has enthusiasm among investors, especially because in the recent past, the shares of the company have been continuously falling.
A big jump of relief after fall
Aki India shares had a huge decline for the last two years. Come, let’s look at its performance:
In the last one week: 3.84% decline
In the last one month: 16.71% decline
In the last one year: 63.47% falls
In the last two years: 43.65% fall
Market cap and future expectations
The current market cap of AKI India is Rs 93.14 crore. However, after this announcement of the budget, there is a new hope in the company’s shares.