Buy Bata India, target Rs 626: Sameet Chavan

Sameet Chavan of Angel Broking has a buy call on Bata India with a target price of Rs 626.
The current market price of Bata India is Rs 591.25.
Time period given by analyst is intraday when Bata India price can reach defined target.
Sameet Chavan recommended to keep stoploss at Rs 576.
Bata India, incorporated in the year 1931, is a Mid Cap company (having a market cap of Rs 7450.10 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 % of Total Sales) and Other Operating Revenue which contributed Rs 1.57 crore to Sales Value (0.06 % of Total Sales)for the year ending 31-Mar-2017.
For the quarter ended 31-03-2017, the company has reported a Standalone sales of Rs 591.43 crore, down 7.62% from last quarter Sales of Rs 640.19 crore and up 8.72% from last year same quarter Sales of Rs 543.99 crore.
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.