Bata India up 24% from Recommended Price. Hold for revised target of 840. 6 months. Stock is currently at 723.
We had recommended Bata at 490 after Q3 results, further we added another buy call on Bata at 540 after Q4 results and further recommended at 583 after Q1 results. Stock is up 47% form 490 and 24% from 583.
30 day moving average of the stock is at 666. We see a good support for Bata at 630-660. Any dip towards 660-680 should be capitalized to accumulate the stock for a target of 840 in 6 months. SL 630.
Reference calls on Bata: