Bata India surges to over 3-month high after naming new CEO
18/06/2026 10:59
BUZZ-Bata India surges to over 3-month high after naming new CEO ** Footwear maker and retailer Bata India's BATA.NS shares rise 17.1% to 794.3 rupees, hitting their highest level since Feb. 26
** Co appoints Sanjay Rao as CEO effective Aug. 24
** Also appoints Rao as Managing Director from Oct. 1, 2026 to Aug. 23, 2031
** Bata trades at forward 12-month PE of 35.26 vs industry median of 25.34
** Three brokerages rate the stock "buy" or higher, 4 "hold" and 9 "sell" or lower; median PT is 745 rupees
** YTD, Bata down 15.8% vs 4.2% fall in Nifty 200 Index .NIFTY200
(Reporting by Abhinav Parmar in Bengaluru)