Bata India shares spike 6% on Adidas partnership speculations

Bata India shares spike 6% on Adidas partnership speculations

Bata India closed Thursday’s trade up 6% at Rs 1,739 and was one of the key gainers on the Nifty Midcap 50 Index on August 17. The market buzz is the gain is on the back of potential discussions regarding partnership with another industry giant Adidas, aimed at bolstering its position in the Indian market. While the speculations about the collaboration is generating buzz in the market, the official confirmation is still awaited.

“The Exchange has sought clarification from Bata India regarding a recent news item captioned ‘Bata and Adidas said to be in talks for a collaboration for the Indian market.’ The response from the company is awaited,” as per information available on the NSE.

Bata India’s market capitalization stands at Rs 22.27k crore. The P/E ratio is 75.08, and the dividend yield is 0.78%. The shares have shown continuous growth year till date. The stock price has grown 4.85% in the last five days, 2.75% in the last one month, 21.26% in the last 6 months and 5.17% year to date. The 52-week high for the stock is at Rs 1,989 on August 17, 2022, whereas the stock hit the 52-week low of Rs 1,381.05 on March 20, 2023.