INSUBCONTINENT EXCLUSIVE:
Domestic money managers as well as overseas investors offloaded stakes in Bata India during the October-December quarter.
Shareholding data
at the end of December quarter showed mutual funds held 14.88 per stake in the footwear major against 15.22 per cent at the end of September
Likewiseforeign institutional/portfolio investors' holding declined marginally to 11.39 per cent from 11.45 per cent.
Life Insurance
of the quarter gone by.
Shares of Bata India have outpaced the benchmark BSE Sensex with a wider margin during the past three years
The scrip jumped over 275 per cent, while the 30-share index gained 53 per cent during January 2017 and January 2020.
Shares of Bata peer
Relaxo Footwear have soared 216 per cent to Rs 647 during the same period.
In a December 9 note, Nirmal Bang Equities retained its
to clock revenue/EBITDA/PAT CAGR of around 11 per cent/16 per cent/20 per cent, respectively, over FY19-FY22 with pre-tax RoIC (return on
invested capital) expanding from around 63 per cent in FY19 to around 73 per cent in FY22.
On the other hand, ICICIdirect in a report late
last year said healthy store expansion plans (through franchise route) in non-metro cities are expected to provide some growth impetus to