The talks between the two companies are at its final course. They are very close to signing the deal and its stock price has already spoken.
Opened at Rs. 1,745.95 on Friday, Bata India Limited share prices have seen a strong momentum today. The stock price went up to 7.5% as Rs. 1,763 the last day reaching its intra- day high.
The share prices of Bata India increased after talks about a well thought partnership with footwear co-operation Adidas for the domestic market. This news came after Bata had started trails for its shoe apparels.
Bata India has positive results for the quarter and has increased revenue and net profits since the last quarter. For Q1FY23, Bata saw an increase of 23.06% in its net revenue of Rs. 958.15 crores against Rs. 778.59 crores in the last quarter. Its net profit escalated 64.5% to Rs. 107.84 crores in Q1FY23 from the last quarter which was Rs. 65.56 crores. The promoters of Bata own up to 50.16% of the shares leaving another 49.84% for the public.
Bata is a footwear manufacturing company headquartered in Switzerland. In India, Bata has more than 2,000 stores in around 700 cities. Started in 1931, Bata India is known closely in the country. Through its presence in the global market, Bata is doing quite well in the shoe apparel industry for years now. After its tie up with Adidas, a lot can be expected starting from the changes in stock prices in the share market to new sport shoe apparels.
Written by Bhumika Khandelwal
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