Bata India’s stock rise: Shares of footwear producer Bata India rose substantially during Thursday’s intraday trade after reports that it was in advanced talks with Adidas for a strategic alliance.
At roughly 3:15 p.m., Bata shares were up 5.11 percent to Rs 1,730.75.
According to reports, the renowned footwear company, which owns brands such as Hush Puppies and Scholl, is in talks with sportswear behemoth Adidas about forming a partnership.
It should be noted that Bata India operates a retail network of approximately 2,050 outlets throughout the country. According to the company’s recently issued annual report, the company has expanded its trainer offerings to more than 500 outlets in response to increased young demand.
According to sources cited in the story, conversations between the two corporations are in the advanced stages, with the goal of working for the Indian market.
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