 "bata store, shoes, footwear, sandals")
The stock of footwear major Bata India surged about 27 per cent in the past three months and hit its 52-week high on Wednesday, before closing at Rs 1,271.4 apiece, up 6.9 per cent.
The stock also outperformed the BSE FMCG index that has risen a meagre 0.9 per cent in the past three months. Factors such as improving earnings visibility have turned investors bullish.
Better-than-expected December quarter (Q3) numbers, announced on Tuesday, reinforced investor confidence about the company’s prospects. Thus, the stock — trading at 47 times its FY20 estimated earnings — should see good upsides from current levels,
