Mirza International on a strong footing ahead of board of directors meeting
Mirza International Limited is amongst India’s leading leather footwear manufacturers and exporters. Incorporated in 1979, the company is also the preferred supplier of leather footwear to leading international brands and also, one of the largest suppliers of the finished leather to overseas markets. It also manufactures and sells processed leather through the company’s in-house tannery unit. Having established its mark in the most lucrative international markets, the company is now strategically expanding its presence in the domestic markets.
The company’s brand portfolio includes REDTAPE Athleisure, REDTAPE, Bond Street, Oaktrak, Mode, and Yezdi.
The stock is trading up by nearly 3 per cent on Friday and with this, it has surpassed its prior 52-week high of Rs 117.40, which was registered in the previous trading session. On a WTD basis, the stock is up by nearly 9.50 per cent while on a YTD basis, it is up by a staggering 105 per cent.
The daily 14-period RSI is in a super bullish zone while the daily MACD is pointing northward while sustaining above its nine-period average thus, validating positive bias in the stock. Interestingly, the stock is walking the upper band, which indicates that the trend is quite strong.
Furthermore, the stock is in buzz as the fifth meeting of the board of directors of the company is scheduled on December 10 regarding the approval of the scheme of arrangement.