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    HomeNewsBusinessStocksBata India surges; parent raises stake in company

    Bata India surges; parent raises stake in company

    The bulk deal raises parent company's stake to 52.95 percent from 52.01.

    November 13, 2013 / 12:34 IST

    Bata Indiastocks surge 4.3 percent after its parent Bata B N B V bought 608,657 shares of the company at Rs 888.05 per share via a bulk deal on Tuesday, as per the Bombay Stock Exchange data.

    The bulk deal raises parent company's stake to 52.95 percent from 52.01.

    "Bata's parent company believes that the growth has bottomed out for its Indian arm, the creeping acquisition endorses that," an analyst tracking the company at a domestic brokerage house said.

    first published: Nov 13, 2013 12:34 pm

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