Bata India surges on plan to enter into rural markets & small towns

Bata India is currently trading at Rs. 1110.75, up by 19.50 points or 1.79% from its previous closing of Rs. 1091.25 on the BSE. The scrip opened at Rs. 1100.00 and has touched a high and low of Rs. 1125.00 and Rs. 1100.00 respectively. So far 4455 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1157.00 on 31-Mar-2014 and a 52 week low of Rs. 748.20 on 12-Jun-2013. Last one week high and low of the scrip stood at Rs. 1128.85 and Rs. 1011.00 respectively. The current market cap of the company is Rs. 7218.75 crore. The promoters holding in the company stood at 52.96% while Institutions and Non-Institutions held 29.96% and 17.08% respectively. Bata, India’s leading footwear retailer and manufacturer is planning to enter into rural markets and small towns of less than 500,000 people through distributors and franchisees. The company is currently developing a completely new line of merchandise to tap these unexplored markets. The company has decided to open nearly 100 rural stores over the next 12-18 months. It has already opened about 20 such in Rajasthan and Uttar Pradesh on a pilot basis. The company is also planning to tie up with wholesalers to sell shoes in rural shops. 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.