Mirza International Surges Over 30% in Two Days, Approaches 52-Week High

Shares of Mirza International , a prominent footwear company, have witnessed a remarkable rally, surging over 30% in just two trading sessions. The stock's performance has turned positive for the year, overcoming recent underperformance and catching investors' attention.

Sharp Price Movement

On Wednesday, Mirza International's stock climbed 13.00%, building on Tuesday's impressive 15.00% gain. This robust two-day performance has propelled the stock to ₹42.61, inching closer to its 52-week high of ₹48.00. The recent uptick has also pushed the stock above both its 50-day and 200-day moving averages, signaling potential bullish sentiment among traders.

Surge in Trading Volume

The rally was accompanied by a significant increase in trading activity. Wednesday saw over 30 lakh shares changing hands, a stark contrast to the 20-day average of approximately 70,000 shares. This surge in volume suggests heightened investor interest in the stock.

Corporate Developments

The stock's upward movement comes in the wake of news regarding Mirza's demerged entity, Redtape. The company confirmed that the Income Tax department had conducted searches, but assured stakeholders that it had fully cooperated with the authorities. Redtape also stated that its business operations continue as usual, which may have helped alleviate investor concerns.

Sector Tailwinds

The footwear sector, in general, may be benefiting from recent changes in the Goods and Services Tax (GST) structure. Footwear priced up to ₹2,500 is now taxed at a lower rate of 5.00%, down from the previous 12.00%. This reduction could potentially boost consumer demand and benefit companies like Mirza International.

Market Outlook

As Mirza International approaches its 52-week high, investors and analysts will be closely watching the stock's performance in the coming days. The combination of strong price action, increased trading volumes, and potentially favorable sector dynamics has brought this footwear stock into the spotlight.

Investors are advised to conduct thorough research and consider their risk appetite before making investment decisions, as past performance does not guarantee future results.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.46%	-6.98%	+23.12%	+40.52%	-10.84%	-25.62%

Mirza International , a prominent player in the Indian footwear and leather industry, has recently been subject to a search and seizure operation conducted by the Income Tax Department. The company disclosed this information in a regulatory filing to the stock exchanges on September 16, 2025.

Details of the Operation

According to the company's statement, the Income Tax Department carried out the search and seizure operation at certain premises, including Mirza International's Registered Office. The operation lasted for six days, commencing on September 11, 2025, and concluding on September 16, 2025.

Company's Response

Mirza International has assured stakeholders that it provided full cooperation to the officials throughout the proceedings. The company stated that it responded to all clarifications and details sought by the Income Tax Department during the operation. Furthermore, Mirza International has expressed its willingness to continue providing any further clarification or information that may be required by the authorities.

Impact on Business Operations

In its communication to the stock exchanges, Mirza International emphasized that its business operations remained unaffected during the search and seizure operation. The company assured that normal business activities continued as usual throughout the six-day period.

Regulatory Compliance

The disclosure of this information aligns with Mirza International's obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has committed to complying with its legal obligations for disclosure from time to time, ensuring transparency with its stakeholders.

Management Statement

Harshita Nagar, Company Secretary & Compliance Officer of Mirza International, signed the regulatory filing, confirming the details of the Income Tax Department's operation and the company's cooperation.

As the situation develops, investors and stakeholders will likely be watching closely for any further updates or implications resulting from this Income Tax Department action. Mirza International has stated it will continue to provide information as required, maintaining open communication with the market and regulatory bodies.

Mirza International Surges Over 30% in Two Days, Approaches 52-Week High

Sharp Price Movement

Surge in Trading Volume

Corporate Developments

Sector Tailwinds

Market Outlook

Mirza International Undergoes Income Tax Department Search and Seizure Operation

Details of the Operation

Company's Response

Impact on Business Operations

Regulatory Compliance

Management Statement

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