Bata India - Mr. Amarjeet Maurya- AVP - Mid Caps, Angel Broking Ltd

"Bata India is the largest footwear retailer in India, offering footwear, accessories and bags across brands such as Bata, Hush Puppies, Naturalizer, Power, Marie Claire etc. It retails in more than 1550 Bata own and franchisee stores, on bata.in and in thousands of multi-brand footwear dealer stores pan-India. Bata India announced a Scheme of Amalgamation Bata Properties Limited (BPL) and Coastal Commercial & Exim Limited (CCEL). Bata Properties Limited (BPL) is wholly owned subsidiary of Bata India Limited and Coastal Commercial & Exim Limited (CCEL) is a wholly owned subsidiary of BPL. Upon completion of the said amalgamation, CCEL will cease to be a subsidiary of BPL and in turn of the Company. In our view, it's just company level adjustment, which has no impact on a company's financial. This development is neutral for Bata."

Shares of BATA INDIA LTD. was last trading in BSE at Rs.1329.65 as compared to the previous close of Rs. 1329.2. The total number of shares traded during the day was 32123 in over 3092 trades.

The stock hit an intraday high of Rs. 1348.15 and intraday low of 1316. The net turnover during the day was Rs. 42814472.

Source : Equity Bulls

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