Stocks in certain sectors such as footwear, tourism, and aviation saw significant gains in response to the Budget 2025’s sector-specific initiatives.
Leading the pack, the footwear sector showed strong gains with Liberty Shoes and Bata India recording increases of 6.81% and 6.42% respectively. This surge followed the announcement of the Footwear Industry Boost initiative aimed at promoting high-quality leather footwear manufacturing.
Aviation and tourism stocks also performed well, with InterGlobe Aviation (IndiGo) and Lemon Tree Hotels gaining 4.22% and 4.92% respectively. This rally was driven by the announcement of a modified UDAN scheme targeting 120 new destinations, with Easy Trip Planners also seeing a 5.56% uptick.
In the renewable energy sector, Premier Energies and KPI Green Energy recorded significant gains of 5.81% and 5% respectively, while Amara Raja Energy & Mobility saw a rise of 4.15%. This came after the government’s announcement of a new manufacturing mission for solar PV cells and grid-scale batteries.
Agricultural stocks also showed positive momentum, with Kaveri Seed Company jumping 6.15% following the announcement of the Prime Minister Krishi Yojana. Godrej Agrovet gained 2.34%, and Adani Wilmar saw a modest increase of 0.19%.
However, infrastructure and shipbuilding stocks faced pressure despite the new initiatives. Mazagon Dock Shipbuilders declined by 5.02%, Cochin Shipyard fell by 4.59%, and Larsen & Toubro dropped by 3.06%.
The textile sector also showed weakness, with Vardhman Textiles, K.P.R. Mill, and Welspun Corp all declining, despite the announcement of a five-year Mission for Cotton Productivity. Ambika Cotton Mills fell by 3.07%.
In the banking sector, private sector banks outperformed their public sector counterparts, with Axis Bank gaining 1.06% while State Bank of India and Union Bank of India declined by 0.84% and 2.59% respectively, despite the enhancement of the Kisan Credit Card scheme.
