In the BSE Smallcap index, 60 percent of total 750 stocks were in the positive return on closing of April 16 and of which top 45 stocks rallied between 50-195 percent.
Net Sales are expected to increase by 13.1 percent Y-o-Y (down 8.1 percent Q-o-Q) to Rs. 715.3 crore, according to ICICI Direct.
At present, Bata has 1,500 stores that also sells brands like Power and Hush Puppies
"Margins are sustainable at 20 percent plus and also expect double-digit growth going forward," he said.
ICICI Direct recommended hold rating on Bata India with a target price of Rs 1300 in its research report dated February 13, 2019.
Dolat Capital recommended accumulate rating on Bata India with a target price of Rs 1339 in its research report dated February 12, 2019.
The strong operational performance pushed the net profit higher by 51.3 percent on a year-on-year (YoY) basis to Rs 103.2 crore, ahead of analysts’ expectation of Rs. 84.1 crore.
During the week, the Nifty made a low of 10,536 but recovered swiftly to come near the vicinity of its vital highest Call strike of 11,000
Rollover data clearly indicates that the banking index is very light on positions and fresh build-up in coming days will decide the further trend in the banking index.
Given Bata’s robust fundamentals and its ability to derive healthy operating margins, it is not surprising to see the company trading at lofty valuations of 42 times its 2-year forward earnings.
The company had posted a net profit of Rs 42.89 crore in the July-September quarter a year ago.
Bata said revenue during the quarter increased 14.7 percent year-on-year to Rs 673 crore on the back of successful new brand campaign 'Be Surprised'.
Trends on SGX Nifty indicate a falt to negative opening for the broader index in India, a fall of 10 points or 0.1 percent. Nifty futures were trading around 10,357-level on the Singaporean Exchange.
Trends on SGX Nifty indicate a flat to positive opening for the broader index in India, a rise of 10 points or 0.1 percent. Nifty futures were trading around 11,002-level on the Singaporean Exchange.
Rupak De of Bonanza Portfolio said 11,000 may act as an immediate resistance, and if the index manages to trade above 11,000 then we may see a rally towards 11,200 levels.
The government raised basic customs duties across air conditioners, refrigerators, washing machines (
While Relaxo and Sreeleathers reported healthy top-line growth YoY, Bata was the standout performer on the margin front.
Dolat Capital recommended Accumulate rating on Bata India with a target price of Rs 940 in its research report dated July 23, 2018.
Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall of 34.5 points or 0.32 percent. Nifty futures were trading around 10,698-level on the Singaporean Exchange.
Vinod Nair of Geojit said the selloff in the mid and smallcap space can provide a value buying opportunity when the market turns around
“Chart pattern suggests that the benchmark index may continue to face resistance on a rise and may retest downside supports placed around 10,740 and 10,700 levels,” says Jaydeb Dey of Stewart & Mackertich Wealth Management Ltd.