Exit Bata India at around Rs 450: Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "If you saw the last quarter numbers for Bata India, I believe there is pressure on EBITDA margins because of higher cost of raw materials. I believe in this quarter to it is likely to continue having said that the topline growth would be decent double digit growth." "At the same time, the expectation was second half would be better, but now with the demonetisation there could be some problems over the next two quarters also. I like the stock for the long term basically because of the overall strength in terms of the retail chain that the company has," she said. "At the same time, I think in the shorter-term it is going to move in a narrow band. I believe any bounce that one gets maybe Rs 450 type of level would be something that one could exit and relook at it after sometime. Definitely, keep a stop loss at Rs 410."