Footwear stocks on strong footing; Khadim India zooms over 19 per cent

Indian markets on Wednesday are witnessing bouts of volatility. However, one sector, which was seen buzzing on the bourses as well as outperforming the market with a wide margin is the footwear sector.   

Footwear stocks seem to have put their best foot forward. Khadim India, Mirza International, Liberty Shoes, and Relaxo Footwears- all four of them are very much in the limelight today.  

Among these, Khadim India has surged the most as it jumped 19.48 per cent around 12.30 pm on Wednesday, touching almost its upper circuit. It also hit a fresh 21-month high along with a new 52-week high of Rs 288.60. In line with this, Mirza International and Liberty Shoes also climbed 6.7 per cent and 4.85 per cent, respectively while Relaxo Footwears gained 1.08 per cent.   

Meanwhile, Khadim India and Relaxo Footwears are the only two stocks from the footwear sector, which have managed to outperform Nifty 500 index over a period of 16 months. On a YTD basis, Khadim India and Relaxo Footwears are up by 126 per cent and 38.57 per cent, respectively.