In response to the Budget 2025’s sector-specific initiatives, stocks in some sectors such as footwear, tourism and aviation emerged as major gainers.
The footwear sector showed strong gains, with Liberty Shoes leading the pack with a 6.81 per cent increase, followed by Bata India rising 6.42 per cent. These gains came after 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) surging 4.22 per cent and Lemon Tree Hotels gaining 4.92 per cent. The rally followed the announcement of a modified UDAN scheme targeting 120 new destinations. Easy Trip Planners saw a 5.56 per cent uptick.
In the renewable energy sector, Premier Energies and KPI Green Energy recorded significant gains of 5.81 per cent and 5 per cent, respectively, while Amara Raja Energy & Mobility rose 4.15 per cent. This came after the government’s announcement of a new manufacturing mission for solar PV cells and grid-scale batteries.
Agricultural stocks showed positive momentum, with Kaveri Seed Company jumping 6.15 per cent following the announcement of the Prime Minister Krishi Yojana. Godrej Agrovet gained 2.34 per cent, while Adani Wilmar saw a modest increase of 0.19 per cent.
Some stocks slide
However, infrastructure and shipbuilding stocks faced pressure despite new initiatives. Mazagon Dock Shipbuilders declined 5.02 per cent, Cochin Shipyard fell 4.59 per cent, even after the announcement of a ₹25,000 crore Maritime Development Fund. Larsen & Toubro dropped 3.06 per cent.
The textile sector 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 3.07 per cent.
Private banks gain
In the banking sector, private sector banks outperformed their public sector counterparts, with Axis Bank gaining 1.06 per cent while State Bank of India and Union Bank of India declined by 0.84 per cent and 2.59 per cent respectively, despite the enhancement of the Kisan Credit Card scheme.