Bata India - Turnaround Stock Story

#1
Bata India - Turnaround Stock Story

Looks like there is going to be a turnaround in Bata India!

P M Sinha, chairman of Bata India, has purchased 7,736 equity shares of the company in the name of his wife Uma Sinha jointly with his daughter Anjali Sinha. This was announced in a release issued by the company to the NSE today.

What more can one ask for as a confirming indicator?
 
#2
Very very interesting. I'm tracking the stock myself. Looking at

http://in.finance.yahoo.com/q?s=BATA.NS&d=c&k=c1&t=6m&l=off&z=m&q=l

it seems like there's an upward spike in volume in the last two days. Price now is about Rs. 96.1. Don't know what the technicals say but the fundamentals are very good looking forward. Plus, there's a rights issue approved at 1 share for 4 shares owned, at Rs. 54 per share. Good buy, I think, for a one year plus horizon.
 
#3
BATA INDIA- Turnaround story

the company has the ingridients of well managed stock but as lots of competitors in this
trade has overshadowed.when the going gets tuff.thetuffer gets going is its litmus test still not turnaround case.Good buy after the right.
 
#4
Dropped to 89 today. Maybe because NSE site says ex date for Rights issue is 13 march (today). Corp. announcement says record date is 25 April. (site www.nseindia.com, look for symbol BATAINDIA)

If you look closely at "Corporate actions" on the same site, you will see that there's Book Closure between 13 April and 22nd April, i.e. no delivery will be allowed between these dates. All shares after this will trade at the lowered price (of around 89) I guess because of the rights issue.

Sales last CY were 724 cr. and loss is around 63 cr. This CY might have a turnaround, we'll see on 26th (when the board meeting happens to adopt results of J-M 2005) If trend is positive (less thn 10 cr loss or any profit), my personal recommendation is buy for 1 year plus horizon.

What do the technicals say?
 
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