The stock price of Bata India today witnessed a more than 13 per cent jump at Rs 40 on the back of institutional purchases.
The scrip has appreciated by nearly 8 per cent in the past 15 trading sessions. "The growth in the stock went unnoticed," a dealer said.
The stock witnessed volumes in the region of nearly 2 lakh shares on the Bombay Stock Exchange (BSE). The stock had witnessed a high of 55,849 shares on February 18.
On the sudden interest in the stock, analysts said that the company had restructured and was turning itself around. The company, in order to meet competition, has launched new products. It has managed to shed its image of a utilitarian shoe manufacturer.
Niche product positioning has given way to mass marketing with a wider appeal for its shoes, cutting across consumer segments. The company has also taken great pains to diversify and upgrade its product range, they added.
All these initiatives are expected to result in significant boost in sales. Shoes, which do not require polishing, will be launched soon while it is also planning to market international brands of its Italian parent. The company is also making new investments to upgrade its facilities.
