Finace And Stock

Buy Bata India, target price Rs 1895: ICICI Direct

ICICI Direct has buy call on Bata India with a target price of Rs 1895. The current market price of Bata India Ltd. is Rs 1794.85.

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 23050.13 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 forming higher base above the recent bullish cup & handle breakout area and MACD in buy mode


Promoter/FII Holdings
Promoters held 53 per cent stake in the company as of March 31, 2021, while FIIs held 5.3 per cent, DIIs 26 per cent and public and other 15.7 per cent.

(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.


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