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Bata India advances on settling ongoing protracted litigations with Relaxo Footwear

03 Aug 2015 Evaluate

Bata India is currently trading at Rs. 1223.45, up by 27.10 points or 2.27% from its previous closing of Rs. 1196.35 on the BSE.

The scrip opened at Rs. 1206.90 and has touched a high and low of Rs. 1229.40 and Rs. 1203.10 respectively. So far 9,322 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1495.00 on 22-Jan-2015 and a 52 week low of Rs. 942.20 on 09-Jun-2015.

Last one week high and low of the scrip stood at Rs. 1229.40 and Rs. 1106.10 respectively. The current market cap of the company is Rs. 7,862.00 crore.

The promoters holding in the company stood at 52.96% while Institutions and Non-Institutions held 27.94% and 19.10% respectively.

Bata India has amicably settled the ongoing protracted litigations with Relaxo Footwear in respect of trademark ‘SPARX’. The company has executed a deed of settlement with Relaxo for assignment of trademark ‘SPARX’ in favour of Relaxo and both the companies have agreed to file necessary consent terms before the Delhi High Court in due course, for withdrawal/settlement of all pending litigations filed by/against Relaxo and the company.

The benefit on account of this assignment of trademark along with saving in cost of litigations is considered to be materially beneficial to the company.

Bata India is the largest retailer and leading manufacturer of footwear in India and is a part of the Bata Shoe Organization. The company manufactures footwear for men, women and children. The company manufactures shoes of various quality such as leather, rubber, canvas and PVC shoes.


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