Bata India hits over 9-month low as quarterly profit slumps
02/02/2024 04:54
** Shares of Bata India BATA.NS fall as much as 2.6% to
1,421.2 rupees, lowest since April 20
** Footwear maker said on Thursday its Q3 consol profit fell
30%, missing analysts estimates
** Marks third consecutive quarterly profit fall
** BATA slipped below its 50-day, 100-day and 200-day simple
moving averages in mind-Jan.
** 16 analysts covering the stock on avg have a "Hold"
rating; stock currently trading at 14% discount to median PT of
1,686.5 rupees - LSEG data
** Stock fell ~10% in Jan., its biggest monthly fall since
June 2022
(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))