Multibagger Stocks: Rs 1 lakh made 2 lakh in three weeks, know why the stock of shoe maker is running away

Footwear Shares : Liberty Shoes (Liberty Shoes) and campus activewear (Campus ActivewearStocks of footwear companies continued a strong rally with shares of ) hitting new highs on Wednesday, October 12. In fact, footwear stocks are getting support on the back of strong business outlook.

Apart from these two stocks, Khadim India, Bata India, Relaxo Footwears and Metro Brands also saw a strong rally of up to 10 percent in intraday.

Why does the government trust this sector?

The footwear sector is going through a period of change these days. Consumers are paying special attention to features like design, comfort. India is the second largest footwear market in the world after China. The footwear market in the world is worth $224.6 billion and is growing at the rate of 4 percent.

IDFC and IDFC First Bank at one-year high, due to this there is a lot of buying in shares

On the other hand, Union Minister Piyush Goyal said on Friday that there is a lot of potential in India’s footwear sector and production and exports can be increased 10 times in the near future.

Liberty Shoes stock doubles in three weeks

The stock of Liberty Shoes rose almost 10 percent to a new high of Rs 402.20. The stock has given strong returns of 120 per cent in the last one month and 103 per cent in three weeks.

On September 24, the company said that it is confident of reaching pre-Covid levels of revenue and profitability. The company has a target of 30 per cent growth in the financial year 2022-23.

Delta Share Price: Selling pressure despite record results, more than 2% broken prices

Up to 6% strength in campus activewear

Shares of Campus Activewear gained more than 6 percent to reach the level of Rs 624 in intraday, which is its record high. However, later the stock came in the red mark and closed down 0.54 per cent at Rs 583.25. The stock has gained 112 per cent in comparison to the issue price of today’s rally.

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