Market experts call the reversal a courageous call that saves investors from underperformance

The Nifty Auto index was trading 0.02 per cent up at 12765.65.

The Nifty Bank index was trading 0.66 per cent up at 42606.3.

The Nifty IT index was trading 0.37 per cent up at 29741.7.

While raw material prices have since corrected and Relaxo has passed on the same to consumers, it will be an uphill task for Relaxo to recover the space ceded to competitors," Mukherjea said, adding that Relaxo has also been stepping up its focus on designs, the traction in the shoe market has so far been slow

In the highly concentrated long-term portfolio, almost all stocks have compounded their share prices at 15-30% annually demonstrating that stock selection contributed significantly to portfolio returns, the PMS fund said.

ICICI Direct recommended hold rating on Relaxo Footwears with a target price of Rs 930 in its research report dated November 04, 2022.

Sharekhan is bullish on Relaxo Footwear has recommended buy rating on the stock with a target price of Rs 1185 in its research report dated November 03, 2022.

Motilal Oswal recommended Neutral rating on Relaxo Footwears with a target price of Rs 900 in its research report dated November 03, 2022.

In the Nifty pack, 25 stocks closed in the green, while 23 stocks ended in the red.

In the Nifty 50 index, 25 stocks ended in the green, while 23 stocks closed in the red in today's trade.

The companys EBITDA was at Rs 59 crore as against Rs 117 crore in the corresponding period of the previous year. "EBITDA was under pressure due to high raw material prices. EBITDA margin declined by 748 bps to 8.9 per cent in Q2FY23 from 16.4 per cent in Q2FY22," its earning statement said.

The company reported a decline of 67 percent in its net profit at Rs 22.40 crore

"From these entire fallen angel categories, there are a few good business models. Nykaa and Policy Bazaar are two genuinely good business models. If one evaluates whether anybody has created a monetising machine in the fashion and beauty space or in the insurance space, these two definitely make the cut, unlike the CarTrades or Paytm or Zomato. Zomato has a good business but I think they have to really compete with Swiggy which has even deeper pockets."

Relaxo Footwears Ltd. key Products/Revenue Segments include Footwear, Scrap, Others, Wind Power, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.

Relaxo Footwears Ltd. key Products/Revenue Segments include Footwear, Scrap, Others, Wind Power, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2022.

Sharekhan is bullish on Relaxo Footwear has recommended buy rating on the stock with a target price of Rs 1185 in its research report dated October 03, 2022.

"Power stocks continued its uptrend this week too on the recent Govt. decision to extend the deadline by 2 years for the implementation of Flue Gas Desulphurisation (FGD) equipment norms in various categories of power plants. Steel stocks too appear to have been buoyed by the potential removal of recently imposed export duty."

Strong festive season and continued demand for quality value-for-money products augurs well for Relaxo Footwears, believe analysts

V-Mart Retail Ltd., incorporated in the year 2002, is a Mid Cap company (having a market cap of Rs 5776.97 Crore) operating in Retail sector.

Relaxo Footwears Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 25191.32 Crore) operating in Leather sector.

“I am not too sure if one should compare Vedant Fashions to an Asian Paints or Titan. Metro Shoes has a good chance of giving that CAGR but having said that, a lot of that growth is built in today and it is difficult to expect more than 10-12% CAGR even if things go right in these stocks.”

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ICICI Direct recommended hold rating on Relaxo Footwears with a target price of Rs 1060 in its research report dated July 29, 2022.

Sharekhan is bullish on Relaxo Footwear has recommended buy rating on the stock with a target price of Rs 1130 in its research report dated July 27, 2022.

Currently inflation is high although there is some softening in raw material prices, but compared with last years inflation rates, there is an impact and the worst sufferers are the masses. Which is why there is an effect on Relaxo Shoes as otherwise other articles used by the middle-class categories are growing despite the inflation.”

The company had posted a profit of Rs 30.96 crore in the April-June quarter of the last financial year.

Asian Paints, Larsen & Toubro, Bajaj Auto, Tata Power Company, United Spirits, Union Bank Of India, Relaxo Footwears, KEI Industries, UTI Asset Management Company and Symphony are among companies that will announce their quarterly earnings today

Asian stocks zigzagged between positive and negative territory but opened mostly higher Tuesday, with market heavyweight Alibaba boosted by news it will seek a primary listing in the city, which would allow it to be traded by mainland investors. MSCI's index of Asia-Pacific shares outside Japan was up by 0.15 per cent.

Asian Paints, L&T, Bajaj Auto, Tata Power, United Spirits, Union Bank of India, Relaxo Footwears, Sanofi, Aditya Birla SL AMC, KEI Industries, and UTI AMC are among the companies that will announce their earnings for the quarter ended June 2022.

The last quarter of FY22 saw Trent and Go Fashion double their inventory levels, while Page Industries, V-Mart, Relaxo and Aditya Birla Fashion and Retail increased their stocks by 60-70%, data from earnings presentations showed. TCNS's investment in inventory rose by 30% while Vedant Fashions spent 40% more on it during the quarter.

Relaxo Footwears Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 25166.42 Crore) operating in Leather sector.

Relaxo Footwears Ltd., incorporated in the year 1984, is a Mid Cap company (having a market cap of Rs 24276.51 Crore) operating in Leather sector.