Bata India at record high, up 4% on institutional buying, revival hopes

Domestic investors have hiked stake in the company by 243 basis points (bps) to 17.88 per cent, while foreign shareholding increased marginally to 5.35 per cent at the end of June 2021 quarter

Shares of Bata India hit a record high of Rs 2,202.10, up 4 per cent on the BSE in intra-day trade on Wednesday  in an otherwise range-bound market on hopes of revival in revenue growth trajectory as and when the impact of the pandemic gets phased out.

Meanwhile, institutional investors led by domestic mutual funds (MFs) and foreign portfolio investors (FPIs) increased their stake in footwear company during July-September quarter (Q2FY22). In past one month, the stock has outperformed the market by surging 25 per cent, as compared to 5.5 per cent rise in the S&P BSE Sensex.