Expansion plans have no effect on Bata India stock

Bata India closed the day virtually unchanged at Rs 179. The stock had opened at Rs 181 and touched a high of Rs 185 and a low of Rs 177 during the day. A total of 215,995 shares were traded on the BSE as against the 2-week average of 114,555 shares.
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(Updated at 1030 hrs)

Bata India is trading up 2.2% at Rs 183 on the BSE  on the back of aggressive expansion plans.

The stock opened at Rs 181.5 and has touched a high of Rs 184 and a low of Rs 180 thus far.

The footwear major yesterday announced plans to open 60 stores every year to reach out to customers across India.

"These stores will operate in a four-tiered retail format under a new retail model-up-market flagship stores, smart and trendy city stores and super-stores and traditional family stores," Bata India Group Managing Director Marcello Villagran said in a statement.
Bata India retails through over 1,200 stores and over 20,000 independent shoe dealers in over 400 cities pan-India.