Bata India up most in over 1-1/2 yrs on Adidas partnership talks
17/08/2023 08:59
** Shares of Bata India BATA.NS rise as much as 6.2% to
1,749.90 rupees, biggest intra day pct climb since Jan. 2022
** Footwear manufacturer reportedly in talks with athleisure
maker Adidas ADSGn.DE for a strategic partnership
** BATA likely to tie up with Adidas for Indian market, as
per the report
** Stock on track to rise for second straight session, if
gains hold
** Over 1.6 mln shares traded by 01:21 p.m. IST vs 30-day
moving avg of over 304,000 shares
** Nine of 17 analysts covering the stock have a "buy" or
"strong buy" rating, six have "hold" while two recommend "sell"
or "strong sell"; median PT is 1,702 rupees - Refinitiv data
** As of last close, stock down 0.12% so far this year
(Reporting by Kashish Tandon in Bengaluru)
((Kashish.tandon@thomsonreuters.com))