Preview: India's Bata slightly down ahead of Q3 results
14/02/2023 04:59
** Shares of footwear maker Bata India Ltd BATA.NS fall as
much as 0.6% to 1,485 rupees, ahead of Dec-qtr results
** Analysts on average expect the co to report a profit of
1.16 billion rupees ($14.03 million) during the qtr on the back
of strong festive and wedding season - Refinitiv data
** Co had reported a consolidated profit of 723.2 million
rupees in the year-ago quarter
** Analysts at Nirmal Bang expect revenue growth to be
driven by an equal mix of volume and price growth
** If losses stand, co on track for second straight session
of loss
** Co has been trading below its 50-day, 100-day and 200-day
simple moving average and is trading below its moving average
convergence divergence line (MACD), indicating bearish sentiment
** Eleven of the 16 analysts covering the stock have a "buy"
or "strong buy" rating, 3 has "hold" while 2 rate it at "sell"
or "strong sell"; median PT is 2,018 rupees - Refinitiv data
** Stock has fallen 9.4% YTD up to last close
($1 = 82.6680 Indian rupees)
(Reporting by Ashna Teresa Britto in Bengaluru)
((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))