Buy Bata India With Stop Loss Of Rs 414

Buy Bata India With Stop Loss Of Rs 414Technical Analyst Husseini Wadharia of Techno Shares has maintained 'buy' rating on Bata India Limited (RIL) stock with a target of Rs 435.

Mr. Surekha said that the stock can be purchased with a stop loss of Rs 414.

The stock of the company, on April 18, closed at Rs 420.30 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 437 and a low of Rs 235 on BSE.

Current EPS & P/E ratio stood at 14.83 and 28.39 respectively.

Extending its concentration on large-format stores, Bata India has introduced an 8,600-sq. ft store - its biggest - in the city of Lucknow.

The company's novel store at Saharaganj Mall in Hazratganj is the company's 15th in the state capital.

Marcelo Villagran, MD, Bata India, stated, "We are pleased to offer our customers this large Bata store, which will redefine shoe retailing in Lucknow. Our objective is to make shoe shopping a pleasurable affair for our consumers."

"Today's evolved consumer has multiple footwear needs for specific purposes. Our shoe line now is updated and improvised and is better segmented to adapt to these changing needs of the consumer," he added.

While talking about the growth proposals, Mr. Villagran added that the company is amplifying its retail chain, launching over 100 stores in 2011 in the same worldwide format.

He also said that these stores have sufficient space to present consumers with the biggest selection of footwear designs as well as styles, with the top notch service.