Buy Bata India, target Rs 564: Rakesh Bansal

Rakesh Bansal, VP- R K Global recommends a buy on Bata India with a target price of Rs 564 and a strict stop loss placed at Rs 540. The stock has gained 10 per cent so far in the calendar year 2016. The stock is looking bullish on the charts.

Bata India is a low beta stock (0.73) and is trading well above its 50-day, 100-day and 200-day moving average of Rs 558.32, Rs 529 and Rs 515.03, respectively, as per data collated by ETMarkets.com. The stock is trading with a P/E of 33.04 and P/B of 3.40.