India's Lehar Footwears hits record high after govt assistance

Lehar Footwears

21/10/2024 07:17

** Shares of Lehar Footwears  LEHA.BO  rise as much as 5.9%
to a record high of 275 rupees
    ** Footwear manufacturing co receives approval from Indian
govt. for financial assistance of 84.6 mln rupees ($1.01 mln)
against total cost of 169.2 mln rupees for the development of
design studio 
    ** Financial assistance granted under government's
sub-scheme of Indian Footwear and Leather Development Programme
(IFLDP)
    ** Co says it will invest remaining project cost of 84.6 mln
rupees and the investment should be completed in 12 months
    ** Overall, 34,868 shares traded, 2.4X 30-day average
    ** Relative strength index (RSI) rises to 74.5, suggesting
stock might be overbought - LSEG data
    ** LEHA up ~95% YTD

($1 = 84.0700 Indian rupees)

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))