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Buy Bata India, price target Rs 1,830: Dharmesh Shah

Dharmesh Shah of ICICI Direct has a buy call on Bata India Ltd. with a target price of Rs 1830.0 . The current price of Bata India Ltd. is Rs 1761.6 . Dharmesh Shah recommended to keep a stoploss at Rs 1729 .

Bata India Ltd., incorporated in the year 1931, is a Large Cap company (having a market cap of Rs 22641.41 Crore) operating in Leather sector.

Bata India Ltd. key Products/Revenue Segments include Footwear which contributed Rs 2926.40 Crore to Sales Value (99.93 % of Total Sales) and Other Operating Revenue which contributed Rs 2.04 Crore to Sales Value (0.06 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 721.96 Crore, down -18.22 % from last quarter Sales of Rs 882.76 Crore and up 7.26 % from last year same quarter Sales of Rs 673.07 Crore Company has reported net profit after tax of Rs 71.30 Crore in latest quarter.

The company’s top management includes Mr.Akshay Chudasama, Mr.Christopher Kirk, Mr.Rajeev Gopalakrishnan, Mr.Ram Kumar Gupta, Mr.Ravi Dhariwal, Mr.Sandeep Kataria, Mr.Shaibal Sinha, Mr.Uday Khanna, Ms.Anjali Bansal. Company has B S R & Co. LLP as its auditoRs As on 30-09-2019, the company has a total of 128,527,540 shares outstanding.

Source: Economic Times