Relaxo Footwears slips after a sharp rally
The GST Council had categorised footwear into 2 tax slabs. Those priced below Rs 500 that will be taxed at 5% and others will be taxed at 18%.
On NSE, the stock attracted a traded volume of 1,14,550 shares and a traded value of Rs 602.28 lakh.
Other peers like Liberty Shoes slipped 4.14% at Rs 189.80 per share, Mirza International slipped 2.17% at 164.85 per share and Bata India dipped 0.66% at Rs 571.80 per share on BSE during Wednesday’s trade.
Relaxo Footwears Limited is engaged in the manufacturing and trading of footwear and related products.
Stock view :-
Relaxo Footwears Ltd is currently trading at Rs 519.1, down by Rs 24.15 or 4.45% from its previous closing of Rs 543.25 on the BSE.
The scrip opened at Rs 533 and has touched a high and low of Rs 534.9 and Rs 517.55 respectively. So far 149738(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 6526.08 crore.
The BSE group 'B' stock of face value Rs 1 has touched a 52 week high of Rs 554.9 on 04-Jul-2017 and a 52 week low of Rs 373 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 554.9 and Rs 470 respectively.
The promoters holding in the company stood at 74.93 % while Institutions and Non-Institutions held 6.26 % and 18.81 % respectively.
The stock is currently trading above its 50 DMA.
Relaxo Footwears Ltd :-
BSE 518.85 [24.40] ([4.49]%)
NSE 519.65 [20.35] ([3.77]%)