The stock of footwear major – Bata India – surged about 18 per cent in the last three months and hit its 52-week high on Wednesday, outperforming the BSE FMCG index that rose 2.2 per cent. Factors such as improving earnings visibility have turned investors bullish.
Bata’s better than expected December 2018 quarter (Q3) numbers, announced on Tuesday reinforced investor confidence about the company’s prospects. Thus, the stock, trading at 46 times FY20 estimated earnings, should see good upsides from the current levels, say analysts. In Q3, net revenues grew by ...
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