Under Armour shares rise 2.95% intraday as India's tax reform may impact global fashion brands.

Under Armour, Inc. rose 2.95% in intraday trading. The company's stock price increase may be attributed to the potential impact of India's tax reform on the global fashion industry. The tax reform, which reduces levies on garments costing less than 2,500 rupees ($29), could benefit Under Armour by making their products more affordable in the Indian market, which has a growing number of brand-conscious consumers.