Bata India up 4.1% on results hopes
Some analysts question the veracity of the talk as Bata is still developing a 260-acre land in Kolkata along with Calcutta Metropolitan.
By ET Bureau | Updated:
Shares of shoemaker Bata India rose 4.1% to close at Rs 433.35 in late hour trading on Wednesday, ahead of the company’s fourthquarter results on Thursday.
Triggering action in the counter was the speculation among market participants that Bata could report a multi-fold jump in net profit in the January-March quarter driven by one-time gains from property sale.
Some analysts question the veracity of the talk as Bata is still developing a 260-acre land in Kolkata along with Calcutta Metropolitan. The project is scheduled to complete only by 2013. That is unless the company has chosen to cash out a part of the land holding before the development, analysts said.
Trading volumes in the stock were significantly higher with 4.2 lakh shares changing hands on the BSE, over 10 times the two-week average.
Contributed by Nishanth Vasudevan
Triggering action in the counter was the speculation among market participants that Bata could report a multi-fold jump in net profit in the January-March quarter driven by one-time gains from property sale.
Some analysts question the veracity of the talk as Bata is still developing a 260-acre land in Kolkata along with Calcutta Metropolitan. The project is scheduled to complete only by 2013. That is unless the company has chosen to cash out a part of the land holding before the development, analysts said.
Trading volumes in the stock were significantly higher with 4.2 lakh shares changing hands on the BSE, over 10 times the two-week average.
Contributed by Nishanth Vasudevan
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