The stock of this company became a storm…?
Finance minister Nirmala Sitharaman made a big announcement for the leather industry of the country in the budget today. During this, the custom duty on wet blue leather was reduced from 10 percent to zero, while up to 20 percent exemption has been given on the export duty of crushed leather. The Finance minister set a target of 22 lakh jobs for the leather industry in his important announcement for the leather industry scheme.
AKI Leather India's stock reached intraday high
As soon as the leather industry was mentioned in the budget, traders' eyes were fixed on the shares of leather company AKI Leather india during the trading session. This stock reached an intraday high of Rs 10.52 on BSE. The 52-week high price of the company's shares is Rs 29.90 and the low price is Rs 9.31. While its market cap is Rs 93.14 crore. Let us tell you that the foundation of AKI Leather india was laid in 1994. It is one of the largest leather manufacturing companies in the country and its products are also exported.
Effect of the general budget on the stock market
Usually the stock market is closed on Saturdays, but today the stock market remained open due to the presentation of the budget. Today, on the day of the budget, BSE, NSE and MCX had announced a special trading session. Today, the Sensex rose marginally by 5.39 points, while the Nifty fell by 26.25 points. Today, due to the budget, there was a huge fluctuation in the Sensex and Nifty 50. Although the general budget could not generate much enthusiasm for retail investors and overall markets, but with the declaration of income up to Rs 12 lakh as tax free in the new tax regime, consumption related stocks rose, but the market closed flat.
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