Why are Bata India shares falling

Shares of Bata India fell nearly 4% in intraday trading on Wednesday, adding to the losses for the seventh session. Shoe major’s share price has fallen 7.65% in the last seven sessions after its promoter slashed its stake in the company by nearly 3% on the open market last week.

The stock traded 23% lower than at 2,261.65, the 52-week high it touched on November 16, 2021. It reached a 52-week low of ₹1,540 on June 10, 2021. The stock has yielded 11.5% in the past year. fell 7% on a year-to-date (YTD) basis.

On Wednesday, Bata India shares rose slightly from 1,786.30 Yen on the BSE against the previous closing price of 1,785.30 Yen. The stock fell as much as 3,3.8% during the session to hit an intraday low of ₹1,717.55 and then fell 2.59% to ₹1,739. By contrast, the BSE benchmark Sensex closed at 54,892, down 214 points in highly volatile trading.

In the past six months, shoe company stock has underperformed the market, dropping 13 percent against a 6 percent drop in the benchmark index.

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