Buy Bata India, advises Yogesh Mehta

Yogesh Mehta of Motilal Oswal Securities told CNBC-TV18, "Bata India is a conditional buy because we awaiting for a signal above Rs 980. It will show a good momentum on the upside breakout on the intraday basis and target will be somewhere around Rs 1000-1010 levels. One can keep a stoploss of Rs 960 with a price target of Rs 1000-1010 areas to book profits there."

Bata India touched its 52-week high Rs 1,085.75 and 52-week low Rs 688.25 on 28 November, 2013 and 20 March, 2013, respectively. Currently, it is trading 10.85 percent below its 52-week high and 40.65 percent above its 52-week low. Market capitalisation stands at Rs 6,220.73 crore.