Stock market: This company's share price has gained 70 percent in September even as Sensex, Nifty sink

Even as the Indian stock market slumped for the sixth consecutive session on Wednesday, Liberty Shoes share price jumped nearly 15 per cent to touch a four-year high at Rs 286.35 and 286.9 per share on the BSE and NSE intraday, respectively.

In September so far, the stock has outperformed the market as it has gained nearly 70 per cent against a 3 per cent decline in the S&P BSE Sensex.

The stock in the last two trading sessions has soared over 32 per cent and has quoted at its highest level since January 2018. It had touched a record high of Rs 351 per share on July 22, 2014.

In the last 6 months, the scrip has almost doubled (97 per cent growth) versus 1 per cent decline in the benchmark index.

In its regulatory filing, Liberty Shoes with respect to increase in volume, said, “The significant increase in the volume of our security is completely related to market-oriented and driven due to the reasons not under the control of the company.”

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About Liberty Shoes

Liberty Shoes Limited is engaged in the business of manufacturing and trading of footwear and accessories through its retail and wholesale network. It caters to all sections of society and makes ten different brands to market in the domestic and international markets.

The brands are Leap 7X, Healers, Lucy & Luke, and Aha among others. The company currently has the capacity to manufacture over 50,000 pairs a day.