Bata India witnessed heavy accumulation at the bourses after the Company reported good set of numbers, delivering a revenue growth of 8.3% y/y and EPS growth of 36.6%. Besides a strong Q1, the GST Council’s decision to reduce the GST rate on footwear priced upto Rs 1,000 to 5% from the earlier 18% improved investor sentiment. The stock advanced 7.3% on almost six times the 50-day average volume to enter new high ground.
