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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%


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

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Nov 9, 2021 10:15 am

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