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Buy Bata India; target of Rs 2380: ICICI Direct

ICICI Direct is bullish on Bata India has recommended buy rating on the stock with a target price of Rs 2380 in its research report dated November 08, 2021.

November 09, 2021 / 10:15 AM IST
 
 
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ICICI Direct's research report on Bata India


Bata India is a major player in the Indian footwear market with a presence across men’s, women’s and kid’s footwear segment. It has a pan-India presence with the largest network of retail stores in the footwear industry with 1500+ stores. Bata has a vision to open 500 franchise stores by 2023. It has a robust b/s with healthy cash and bank balance worth rS 865+ crore (as on H1FY22), negative working capital cycle, generating RoCE of 23%


Outlook


We maintain BUY recommendation on the stock and value Bata at rS 2380 i.e. 50x FY24E EPS


For all recommendations report, click here

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first published: Nov 9, 2021 10:15 am

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