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Buy Bata India: Target Of Rs 1550: Sharekhan

Sharekhan is bullish on Bata India recommended buy rating on the stock with a target price of Rs 1550 in its research report dated November 11, 2020.

Nov 13, 2020 / 12:32 PM IST
 
 
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Sharekhan's research repor on Bata India


Q2FY2021 business recovered to ~50% of pre-COVID levels, improving from just ~15% recovery in Q1FY2021. Higher demand was seen in semi-urban areas, whereas metros remained slower. The company is focusing on expanding its presence through the e-commerce/omni-channel and is innovating its product portfolio with relevant products to drive growth in the medium to long term. H1FY2021 was subdued and demand in stores will take time to revive. Post-pandemic recovery is likely in H2FY2021 amid festive/wedding season. Strong recovery is expected in FY2022.


Outlook


Strong cash position of ~Rs. 800 crore as of H1FY2021 will help meet near-term expansion plans without any disruptions. With strong brand identity, sturdy balance sheet, and good parental backing, we recommend Buy on the stock with a PT of Rs. 1,550.


For all recommendations report, click here


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Broker Research
first published: Nov 13, 2020 12:32 pm

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