Shares of Mirza International surged by 88% in the last six trading sessions after its demerger and announcement of a net worth of Rs 727 crore, giving an upper hand to RedTape. Mirza stocks gained despite analysts' concerns over high valuations stating the company is trading at a P/E of 17x compared to its industry peers like Bata India, trading on a P/E of 59.40. Mirza's working capital requirements have also reduced from 123 to 95.8 days in FY2022, with annual manufacturing capacity of 54 million pairs of shoes.