Shares of AKI India Limited, a penny stock, have been experiencing a surge in price since the Indian Union Budget announcement on February 1, 2025.
Following Finance Minister Nirmala Sitharaman’s budget speech, the stock hit its upper circuit limit. This trend continued on Monday, February 3, with shares rising by 5% to reach an intraday high of ₹11.04.
The surge in stock price is attributed to an important government announcement made during the budget.
This surge happened even as the broader market fell by up to 700 points. The main reason for the stock’s rise is linked to an announcement made by Nirmala Sitharaman during the budget.
Announcement on Footwear and Leather Industries
Nirmala Sitharaman announced that the government plans to introduce a “Focus Product Scheme” for the footwear and leather industries.
The scheme aims to generate 22 lakh jobs, achieve a turnover of ₹4 lakh crore, and boost exports to over ₹1.1 lakh crore in India’s footwear and leather sector.
The initiative will also support non-leather footwear production, component manufacturing, and necessary machinery for the sector.
AKI India’s Performance in the Market
AKI India shares have been on a positive trajectory, continuing their rally for the second consecutive session after the budget. On February 1, the company had a market capitalization of ₹93.14 crore.
Over the past five years, AKI India shares have provided returns of about 495%. However, the stock saw a decline of 62.73% over the last year and a 16.71% decrease on a year-to-date basis.
The stock hit its 52-week high of ₹29.90 on February 20, 2024, and its 52-week low was ₹9.31 on January 30, 2025.