Footwear stocks rise up to 7% as GST slashed to 5% on pairs below Rs 2,500

Footwear company stocks surged following the GST Council's decision to reduce the GST rate on shoes priced up to Rs 2,500 from 12% to 5%. This tax cut, effective September 22, is anticipated to boost demand, particularly in semi-urban and rural markets, leading to investor optimism and significant gains for companies like Campus Activewear, Liberty Shoes, and Relaxo Footwears.