Buy Bata India, target price Rs 1910: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Bata India with a target price of Rs 1910. The current market price of Bata India Ltd. is Rs 1834.75.

Time period given by analyst is Intra Day when Bata India Ltd. price can reach defined target.

Bata India Ltd., incorporated in the year 1931, is a Large Cap company (having a market cap of Rs 23580.95 Crore) operating in Leather sector.


Bata India Ltd. key Products/Revenue Segments include Footwear and Other Operating Revenue for the year ending 31-Mar-2021.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 279.25 Crore, down -53.79 % from last quarter Total Income of Rs 604.29 Crore and up 49.24 % from last year same quarter Total Income of Rs 187.12 Crore. Company reported net profit after tax of Rs -69.48 Crore in latest quarter.

Investment Rationale
Price volume breakout on daily scale and making higher lows on weekly scale.

Promoter/FII Holdings
Promoters held 53 per cent stake in the company as of June 30, 2021, while FIIs held 5.2 per cent, DIIs 27.3 per cent and public and others 14.5 per cent.