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Bata India hits new high in weak market; surges 52% in 2018

The stock hit a new high of Rs 1,135, up 3% on the BSE in intra-day trade on Friday in otherwise weak market, surpassing its previous high of Rs 1,128 recorded on Wednesday.

bata store, shoes, footwear, sandals
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A bata store in Delhi's Ambience Mall. Photo: Sanjay K Sharma

SI Reporter Mumbai
Shares of Bata India hit a new high of Rs 1,135, up 3% on the BSE in intra-day trade on Friday in otherwise weak market, surpassing its previous high of Rs 1,128 recorded on Wednesday.

Thus far in calendar year 2018, the stock of footwear outperformed the market by surging 52% from Rs 747 level, as compared to 5% rise in the S&P BSE Sensex.

Foreign portfolio investors (FPIs) have increased their stake in Bata India during past two consecutive quarters. FPIs holding in the company rose to 8.78% in September quarter from 6.93% at the end of