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Bata India spurts on planning to add 500 stores in next five years

Bata India is currently trading at Rs. 1748.05, up by 47.25 points or 2.78% from its previous closing of Rs. 1700.80 on the BSE.

The scrip opened at Rs. 1700.00 and has touched a high and low of Rs. 1733.55 and Rs. 1689.60 respectively. So far 25991 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1789.75 on 30-Sep-2019 and a 52 week low of Rs. 833.50 on 23-Oct-2018.

Last one week high and low of the scrip stood at Rs. 1745.90 and Rs. 1689.60 respectively. The current market cap of the company is Rs. 22079.10 crore.

The promoters holding in the company stood at 52.96%, while Institutions and Non-Institutions held 32.72% and 14.32% respectively.

Bata India is planning to strengthen its presence in the domestic market by adding 500 stores in next five years, focusing mainly on smaller markets. The company has identified tier II, III and IV cities where it has plans to broaden its sales network through the franchise model.

The company has already identified 180 such markets in smaller cities pan-India, where the company is seeking franchise partners to expand its presence beyond metro cities. The company is betting big on franchising and already has over 150 franchise stores across the country.

Bata India is the largest retailer and leading manufacturer of footwear in India and is a part of the Bata Shoe Organization. The company manufactures footwear for men, women and children. The company manufactures shoes of various quality such as leather, rubber, canvas and PVC shoes.