Buy Bata India, target price Rs 1780: Sharekhan by BNP Paribas

Bata India, incorporated in the year 1931, is a Large Cap company (having a market cap of Rs 21492.38 Crore) operating in Leather sector.

By ETMarkets.com | Updated: Sep 13, 2023, 10.36 AM IST

Promoters held 50.16 per cent stake in the company as of 30-Jun-2023, while FIIs owned 6.63 per cent, DIIs 30.31 per cent.

Sharekhan by BNP Paribas has buy call on Bata India with a target price of Rs 1780. The current market price of Bata India is Rs 1673.05. Sharekhan by BNP Paribas recommended to keep stop loss at Rs 1660.

Bata India, incorporated in the year 1931, is a Large Cap company (having a market cap of Rs 21492.38 Crore) operating in Leather sector.

Bata India key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 971.42 Crore, up 23.20 % from last quarter Total Income of Rs 788.52 Crore and up 2.01 % from last year same quarter Total Income of Rs 952.31 Crore. Company has reported net profit after tax of Rs 106.89 Crore in latest quarter.

Investment Rationale
Bullish symmetrical triangular pattern and the daily momentum indicator MACD is in buy mode.

Promoter/FII Holdings
Promoters held 50.16 per cent stake in the company as of 30-Jun-2023, while FIIs owned 6.63 per cent, DIIs 30.31 per cent.

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