Buy Bata India, target Rs 715: Kunal Bothra

Independent analyst Kunal Bothra has buy call on Bata India with a target price of Rs 715.

The current market price of Bata India is Rs 682.55.

Time period given by analyst is intraday when Bata India price can reach defined target.

Kunal Bothra recommended to keep stoploss at Rs 670.

Bata India, incorporated in the year 1931, is a Mid Cap company (having a market cap of Rs 8,772.65 crore) operating in Leather sector.

Bata India key Products/Revenue Segments include Footwear which contributed Rs 2,495.67 crore to Sales Value (99.93 per cent of Total Sales) and Other Operating Revenue which contributed Rs 1.57 crore to Sales Value (0.06 per cent of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2017, the company has reported a Standalone sales of Rs 736.06 crore, up 24.45 per cent from last quarter Sales of Rs 591.43 crore and up 9.16 per cent from last year same quarter Sales of Rs 674.28 crore.

Company has reported net profit after tax of Rs 60.43 crore in latest quarter. The company’s top management includes Mr.Akshay Chudasama, Mr.Christopher Kirk, Mr.Rajeev Gopalakrishnan, Mr.Ram Kumar Gupta, Mr.Ravi Dhariwal, Mr.Shaibal Sinha, Mr.Uday Khanna, Ms.Anjali Bansal. Company has S R Batliboi & Co. LLP as its auditors. As on 30-06-2017, the company has a total of 128,527,540 shares outstanding.