COMPANY NAME – BATA INDIA

RECOMMENDATION – SELL
PRICE TARGET – 200

COMPANY BASIC INFORMATION

ISIN Id – INE176A01010
BSE Id – 500043
NSE Id – BATAINDIA
INDUSTRY – Leather Products
Market Cap – 1,565.79
Book Value – 49.90
EPS (TTM) – 10.46
Price/Book – 4.88
Face Value – 10.00
P/E – 23.29
Div(%) – 25.00
Industry P/E – 16.38
P/C – 16.45
Div Yield (%) – 1.03S

STOCK PRICE HISTORY (NSE)

All Time High – 328.45
All Time Low – 25.35
52 Week High – 255.85
52 Week Low – 88.15

WEEKLY CHART:

Recommendation-

The stock has rallied like rocket after the budget from 180 levels to 255 in just three weeks registering a gain of around 40 %. Now the stock is trading at its major supply zone and the extraordinary huge volumes around these levels cast a manifestation of under cover supply with the ongoing move. The MACD is also signaling negative divergences along with the up move in the stock. We expect the stock to go into a correction of intermediate extent at least, thereby retracing some of the gains. We initiate a Sell on the stock around 250 with Stop Loss above 270 for target if 200 in 1-2 month.