BATAINDIA

** Shares of India's textile makers rise after Britain and India sign major trade agreement

** India's trade ministry said 99% of Indian exports would benefit from zero duty under the deal, including textiles

** Textile makers Gokaldas Exports GOKL.NS, Arvind Ltd ARVN.NS, K.P.R. Mill KPRM.NS, and Kitex Garments KITE.NS were up 7.2%, 3.3%, 7.9%, and 5%, respectively

** "India has advantage of cheap labour cost and high cotton supply, which benefit the domestic textile producers in long run," ICICI Securities said

** Adds, cos with integrated business model and high standards of quality production like Gokaldas Exports, KPR Mills, SP Apparels, Indo Count ICNT.NS and Welspun Living WLSP.NS will benefit from the pact in medium to long run

** ICNT jumps 6.5% and WLSP gains 7.3%

** ICICI Securities also says lower tariffs on footwear products is positive for Indian footwear companies such as Bata India BATA.NS, Metro brands METB.NS, Relaxo footwear RLXO.NS to explore opportunities in the UK market

(Reporting by Vijay Malkar)

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BENGALURU, Feb 10 (Reuters) - Diary of India economic, corporate events on Feb 10

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom)

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** Indian footwear stocks jump as Finance Minister Nirmala Sitharaman announces new policy to support domestic leather industry, footwear sector

** Bata India BATA.NS and Metro Brands METB.NS rise 2.2% and 1.8% respectively; Liberty Shoes LIBS.NS jump 6.5%

** Relaxo Footwear RLXO.NS climbs 6%, Khadim India KHAD.NS and Campus Activewear CAMU.NS advance 2.5% and 5.2% respectively

** Sitharaman says policy measures expected to generate employment for 2.2 mln people, achieve revenue of 400 bln rupees

(Reporting by Hritam Mukherjee and Ashna Teresa Britto in Bengaluru)

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** Shares of Metro Brands METB.NS fall ~2.5% to 1,190 rupees

** Stock set for worst week since April 5, 2024, down 5.3% so far

** Footwear retailer posted 3.3% fall in Q3 net profit, while revenue rose by ~10%

** Total expenses climbed 10%

** Analysts' avg rating on METB is "Buy" while peers Bata India BATA.NS and Campus Activewear CAMU.NS are rated "Hold" - LSEG data

** Median PT on METB is 1,300 rupees - LSEG data

** Stock fell ~4% in 2024

(Reporting by Yagnoseni Das in Bengaluru)

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Dec 30 (Reuters) - Bata India Ltd BATA.NS:

• APPROVES INTRODUCTION OF VOLUNTARY RETIREMENT SCHEME FOR WORKMEN AT BATA SHATAK UNIT

Source text: ID:nBSE55hXBj

Further company coverage: BATA.NS

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Dec 23 (Reuters) - Bata India Ltd BATA.NS:

• BATA INDIA - APPOINTS AMIT AGGARWAL AS WHOLE-TIME DIRECTOR AND CFO

• BATA INDIA LTD - DURGESH SINGH CEASES TO HOLD CFO POSITION

Source text: ID:nBSE3RqJ6P

Further company coverage: BATA.NS

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Nov 22 (Reuters) - Bata India Ltd BATA.NS:

• APPOINTS DURGESH SINGH AS CFO

Source text: ID:nBSE2FYn8z

Further company coverage: BATA.NS

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** Shares of Bata India BATA.NS fall as much as 2.7% to 1,300.1 rupees, lowest since May 9

** Footwear maker posts smaller-than-expected Q2 profit, hurt by poor demand amid high inflation

** Reports 2.2% rise in rev to 8.37 bln rupees ($99.5 mln), lower than the 8.47 bln rupees expected by analysts - LSEG

** Stock rated "hold" on avg; median PT is 1,420 rupees

** BATA down 22% YTD

($1 = 84.1150 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 4 (Reuters) - Bata India Ltd BATA.NS:

• Q2 CONSOL PROFIT 519.8 MILLION RUPEES; IBES EST. 587.5 MILLION RUPEES

• Q2 CONSOL REVENUE FROM OPERATIONS 8.37 BILLION RUPEES; IBES EST. 8.47 BILLION RUPEES

Source text: ID:nBSEbCT9b9

Further company coverage: BATA.NS

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Aug 16 (Reuters) - Bata India Ltd BATA.NS:

• BATA INDIA LTD - ANIL RAMESH SOMANI RESIGNS AS CFO

Source text for Eikon: ID:nBSE7rQMr0

Further company coverage: BATA.NS

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** Shares of footwear retailer Metro Brands METB.NS down ~2% to 1,319 rupees, set to snap three consecutive sessions of gains

** Co reported Q1 revenue and profit below estimates on Friday, hurt by muted demand

** Analysts' avg rating on stock is "Hold" per LSEG data, in-line with Bata India BATA.NS, Campus Activewear CAMU.NS and Relaxo Footwears RLXO.NS

** Median PT on METB is 1,208 rupees - a 10% discount to last close

** Including session's losses, METB up ~4% YTD vs 4% gain in CAMU, 14% fall in BATA and ~10% fall in RLXO

(Reporting by Manvi Pant in Bengaluru)

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** Bata India BATA.NS down 3.2%, on a 4-session losing run

** Footwear retailer's Q1 profit before exceptional items and tax fell 42%; overall profit rose on one-time gain

** Rev fell marginally, hurt by weak demand due to elections, heat wave

** Around 1.4 mln shares traded, 2.6x 30-day avg volume

** BATA has shed 9% in 4 sessions, taking YTD losses to ~11%

** Metro Brands METB.NS, in contrast, is up 2.8% in 2024

** Still, analysts, on avg, rate both Bata and Metro the equivalent of "hold" -LSEG data

(Reporting by Nandan Mandayam in Bengaluru)

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Aug 6 (Reuters) - Bata India Ltd BATA.NS:

• BATA INDIA LTD - DIVIDEND 10 RUPEES PER SHARE

• BATA INDIA Q1 CONSOL PROFIT 1.74 BILLION RUPEES

• BATA INDIA Q1 CONSOL REVENUE FROM OPERATIONS 9.45 BILLION RUPEES

Source text for Eikon: ID:nBSEqTNcq

Further company coverage: BATA.NS

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Bata India Ltd BATA.NS:

• BATA INDIA LTD- CLOSURE OF SOUTHCAN UNIT, KARNATAKA

Source text for Eikon: ID:nBSE6xn8F

Further company coverage: BATA.NS

May 29 (Reuters) - Bata India Ltd BATA.NS:

• Q4 CONSOL PROFIT 636.5 MILLION RUPEES VERSUS 656.2 MILLION RUPEES

• Q4 CONSOL REVENUE FROM OPERATIONS 7.98 BILLION RUPEES VERSUS 7.79 BILLION RUPEES

• DIVIDEND 12 RUPEES PER SHARE

Source text for Eikon: ID:nBSEb0Q4Hj

Further company coverage: BATA.NS

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** Shares of Metro Brands METB.NS rise as much as 4.9% to 1,198.9 rupees, highest since March 22

** Footwear retailer beats Q4 profit estimates and reports a more than two-fold rise in profit on strong premium footwear demand

** Rev from ops up 7% Y/Y

** Fifteen analysts covering the stock on avg have a "hold" rating; median PT is 1,226 rupees - LSEG data

** Stock has gained 9% so far in May, vs a 0.4% and 0.5% dip, respectively, in rivals Bata India BATA.NS and Relaxo Footwear RLXO.NS

(Reporting by Ashna Teresa Britto in Bengaluru)

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April 23 (Reuters) - Bata India Ltd BATA.NS:

• TAX ORDER LEVYING 605.6 MILLION RUPEES DROPPED

• FINAL DEMAND NOW STANDS AT 7821 RUPEES AS INTEREST PAYABLE

Source text for Eikon: ID:nBSE7xxVY7

Further company coverage: BATA.NS

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Corrects last bullet to say METB down ~12% YTD, not up ~10.5%

** Metro Brands METB.NS up ~0.5% at 1,137 rupees, easing from a jump of as much as 6.2%

** Goldman Sachs starts coverage of the footwear retailer's stock with "buy" and 1,450 rupees PT

** Says Metro is better positioned to premiumisation trends than "neutral"-rated Bata India BATA.NS, whose premiumisation initiatives has not managed to revive growth yet

** Bata up 0.6% on the day

** Analysts' avg rating on both Metro and Bata is "hold" -LSEG data

** METB down ~12% YTD, while BATA is down ~16%

(Reporting by Hritam Mukherjee in Bengaluru)

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** India's consumer staples over-valuation continues to stretch, discounting the lag in demand, ICICI Securities says

** Says volume growth recovery continues to lag, despite firms passing on input cost reduction; expects meaningful recovery in couple more quarters

** Adds even discretionary basket continues to see slowing demand trends

** Says consumer sector overvaluation in March stretches to 24% over Nifty 50 index .NSEI, from 19% in Jan

** Says some staples, like Hindustan Unilever HLL.NS, Britannia BRIT.NS, Colgate COLG.NS, valued 45-50x FY25 PE

** Avg historic long-term fwd PE is 43-48x, per Emkay Research

** Nifty FMCG index .NIFTYFMCG up 0.4%; BRIT up 0.1%, HLL down 0.7%, COLG up 1.9%

** FMCG index down 7% YTD vs 0.6% gain in Nifty 50

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of Bata India BATA.NS fall as much as 2.6% to 1,421.2 rupees, lowest since April 20

** Footwear maker said on Thursday its Q3 consol profit fell 30%, missing analysts estimates

** Marks third consecutive quarterly profit fall

** BATA slipped below its 50-day, 100-day and 200-day simple moving averages in mind-Jan.

** 16 analysts covering the stock on avg have a "Hold" rating; stock currently trading at 14% discount to median PT of 1,686.5 rupees - LSEG data

** Stock fell ~10% in Jan., its biggest monthly fall since June 2022

(Reporting by Ashna Teresa Britto in Bengaluru)

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Feb 1 (Reuters) - Bata India Ltd BATA.NS:

• ACCORDED IN‐PRINCIPLE APPROVAL TO MONETIZE CO'S FREEHOLD INDUSTRIAL LAND IN FARIDABAD

Source text for Eikon: ID:nBSE2JvZqw

Further company coverage: BATA.NS

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BENGALURU, Jan 18 (Reuters) - India's Metro Brands METB.NS, which sells shoes from brands including Fila, Crocs and Mochi, reported its fourth straight drop in quarterly profit on Thursday, hurt by high inventory costs amid slowing sales growth.

The company's net profit fell 12.6% to 978.1 million rupees ($11.8 million) in the October-December quarter, missing analysts' estimate of 1.22 billion rupees, as per LSEG data.

The footwear retailer's inventory-related costs -- which account for about 60% of its total costs since it does not manufacture its own products -- have been steadily increasing for most of the year.

They rose 5% in the December quarter and, along with higher employee and finance costs, pushed total expenses up about 12%.

Metro Brands is the first among listed Indian footwear retailers, including Bata India BATA.NS and Relaxo Footwears RLXO.NS, to report its results.

Its revenue rose 6% to 6.36 billion rupees in the quarter, logging its slowest growth rate since the company went public in late 2021. Metro did not give details on its sales for the period.

The company opened 31 new stores in the quarter, bringing the net stores added this fiscal year to 87.

Metro Brands, recently struck a deal to operate Foot Locker FL.N stores in India, giving it access to brands such as Nike NKE.N and Adidas ADSGn.DE in a move that analysts say will further propel its growth.

Metro Brands' stock price has fallen 8.7% since that deal was announced. Shares closed up lower at about 1% ahead of the results.

($1 = 83.1060 Indian rupees)

(Reporting by Navamya Ganesh Acharya and Varun Vyas in Bengaluru; Editing by Savio D'Souza)

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** Sales from Fila and upcoming Footlocker stores to constitute 50% of Metro Brands Ltd's METB.NS consol revenue over next 3-5 years - Motilal Oswal

** Brokerage sets street-high target of 1,530 rupees on footwear retailer; says METB's "rich" valaution backed by long-term growth scope

** METB shares up 1.5% at 1,277.7 rupees

** Motilal values Fila, Footlocker at around 160 rupees/shr

** However, Kotak Institutional Equities advises investors to "reduce," saying METB's long-term growth fully priced

** Motilal's "buy" on METB better than 15 analysts' avg rating of "hold" - LSEG data

** Stock rose 44% in 2023; rival Bata India BATA.NS was little changed

(Reporting by Nandan Mandayam)

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** Kotak Institutional Equities begins coverage of footwear retailer Metro Brands METB.NS with "reduce" rating and fair value of 1,250 rupees, 7.4% lower than current price of 1,349.4 rupees

** "While there is a lot to like, stock is fully priced" - Kotak

** Says METB's average selling price of 1,450 rupees is highest among listed players

** Expects compound annual growth rate of 18% in revenue from FY23-FY26; says store network expansion is the primary growth driver

** Mean rating of 15 analysts is "hold;" median PT is 1,231 rupees - LSEG data

** METB stock up 2.7%, taking YTD gain to 52.7%; rivals Bata India BATA.NS and Relaxo Footwear RLXO.NS up 1.2% and 0.3% this year

(Reporting by Varun Vyas)

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BENGALURU, Nov 8 (Reuters) - Bata India BATA.NS reported a 38% fall in second-quarter profit on Wednesday, hurt by a one-time charge and as inflationary pressures kept footfalls at its shoe outlets in check.

The footwear maker said its consolidated profit fell to 339.9 million rupees ($4.1 million) in the July-September quarter, from 548.2 million rupees in the year-ago quarter.

The latest quarter's results included a 409 million rupees charge related to a voluntary retirement scheme at one of its manufacturing units.

Bata India's revenue slipped 1.3% during the quarter.

Indian businesses grappled with lower footfall in the quarter as higher inflation pushed consumers to tighten their belts, particularly on non-essential spending.

While India's retail inflation has eased of late, it still remains uncomfortably high.

However Relaxo Footwear RLXO.NS posted a 97.3% surge in profit earlier in November, backed by strong demand. Khadim India KHAD.NS and Campus Activewear CAMU.NS will announce their results later this month.

Shares in Bata, a unit of its Netherlands-based namesake parent, closed up 1.2% ahead of its results.

($1 = 83.2673 Indian rupees)

(Reporting by Ashna Teresa Britto and Indranil Sarkar in Bengaluru; Editing by Savio D'Souza)

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Recasts paragraph 1, updates share movement in paragraph 2-3, adds details, analyst comment in paragraph 6-9

BENGALURU, Aug 17 (Reuters) - Bata India BATA.NS is in talks with Adidas ADSGn.DE for a strategic partnership that could likely boost the German sportswear maker's presence in the south Asian country, CNBC-TV18 reported on Thursday.

Bata India's shares ended 5.3% higher, logging their best day since April 2020. Shares rose as much as 7.3% earlier in the session.

Adidas was up 1.6% at 1150 GMT.

The talks with Adidas are likely at an advanced stage with final deal contours in the works, CNBC-TV18 said on social media platform X, formerly known as Twitter.

Bata India, which is the flagship of Netherlands-based Bata BN, houses brands like Hush Puppies and Scholl and has more than 2,050 stores across the country, according to its latest annual report.

Adidas, which sells shoes and apparels, already operates standalone stores across India.

A strategic partnership would likely entail Adidas either offering its products on a wholesale basis to Bata or creating standalone "shop in shop" in Bata stores, analysts at Deutsche Bank wrote in a note.

Either of the options would benefit Adidas "in an important long-term growth market" and likely help overtake Puma as the number one sportswear brand in India, the note added.

Adidas declined Reuters' request for comment, while Bata India did not immediately respond.

In a call with analysts two weeks ago, Adidas CEO Bjorn Gulden said India is "probably the fastest-growing market in our industry going forward."

Bata India has expanded its range of sneakers to more than 500 of its stores to cater to increased demand, its annual report showed.

Sneakers continued to be a dominant category for the company as demand for athleisure footwear surged on the back of sports and adventure events, the Gurugram-based company added.

(Reporting by Hritam Mukherjee in Bengaluru and Helen Reid in London; Editing by Sonia Cheema, Sherry Jacob-Phillips and Eileen Soreng)

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** Shares of Bata India BATA.NS fall as much as 3.1% to 1,647.3 rupees, lowest since July 13

** The footwear maker said its June-qtr consolidated profit fell 10.5% to 1.07 bln rupees ($12.9 mln), rev from ops up 1.6%

** More than 618,516 shares change hands by 10:18 a.m. IST vs 2.3x 30-day avg of 270,547 shares

** Co on track for third consecutive session of decline, if trend holds

** Analysts covering the stock on average have a "buy" rating; median PT is 1,660 rupees - Refinitiv data

** Stock up 3.1% YTD, as of last close

($1 = 82.8350 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Aug 9 (Reuters) - Bata India Ltd BATA.NS:

• JUNE-QUARTER CONSOL PROFIT 1.07 BILLION RUPEES VERSUS 1.19 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 9.58 BILLION RUPEES VERSUS 9.43 BILLION RUPEES

Source text for Eikon: ID:nBSE8JLs58

Further company coverage: BATA.NS

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BENGALURU, July 24 (Reuters) - Indian footwear maker and seller Relaxo Footwears RLXO.NS reported a nearly 46% rise in first-quarter profit on higher demand for its shoes and slippers.

The company's consolidated net profit rose to 563.2 million rupees ($6.9 million) in the quarter ended June 30 from 386.7 million rupees a year earlier.

Revenue from operations for the Sparx sports shoes maker rose nearly 11% to 7.39 billion rupees, while its expenses rose 8.5%.

The growth in topline came after past price hikes, undertaken by the company to battle higher costs, failed to dent customer appetite for its branded products.

Separately, the company announced it re-appointed Ramesh Kumar Dua as managing director.

Relaxo had reported a profit of 633 million rupees in the quarter ended March 31 - a modest 0.6% rise year-on-year - as inflated costs ate into margins despite a jump in revenue.

The company's peer Bata India BATA.NS will report its results next month.

Shares of Relaxo Footwear closed more than 2% higher after reporting results, taking the stock to its highest level since December last year.

($1 = 81.8457 Indian rupees)

(Reporting by Varun Vyas in Bengaluru; Editing by Janane Venkatraman)

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** Shares of Indian footwear seller Bata India Ltd BATA.NS down as much as 1.05% at 1,649.85 rupees

** Brokerage ICICI Securities expects co to report slowest revenue growth at ~3% y/y in Q1 FY24 among footwear players

** Bata opted for early discounting, cos facing higher inventory have preponed end of season sales by two weeks - ICICI

** Adds Bata offering overall discount of ~15%, lowest among top 5 brands, vs ~19% by peer Metro Brands METB.NS

** Says Metro top pick in footwear sector, co shares up as much as 2.85%

** BATA has risen 0.84% YTD, while METB has jumped 19%

(Reporting by Hritam Mukherjee in Bengaluru)

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