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Buy Bata India, target Rs 820: Vikas Jain


Vikas Jain of Reliance Securities has a buy call on Bata India with a target price of Rs 820.

The current market price of Bata India is Rs 750.50.

Time period given by the analyst is one month when Bata India price can reach defined target.

Vikas Jain recommended to keep a stop loss at Rs 710.

In a report, the analyst said, "The stock remained in pressure post a break-down from rising wedge, where its long-term moving averages (100-day EMA and SMA) worked as key reversal points. Later, the stock had formed strong base around that
moving average and thereafter given a trend line break-out. Major technical indicators are firm and sectoral outlook is also positive."

Bata India, incorporated in the year 1931, is a Mid Cap company (having a market cap of Rs 9,645.99 Crore) operating in Leather sector.

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 S R Batliboi & Co. LLP as its auditors.

As on 30-09-2017, the company has a total of 128,527,540 shares outstanding.

Original Article

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