Moderation in demand is where the shoe pinches for footwear majors

Valuations factoring in second-half recovery are in the expensive zone

bata india

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Ram Prasad Sahu Mumbai
Notwithstanding lower growth rates recorded in the first quarter (Q1) of 2023-24 (FY24), which spanned from April to June, footwear stocks have seen some gains in the past two trading sessions. Bata India saw an increase of approximately 5 per cent, driven by positive expectations surrounding a potential tie-up in the sports/athleisure segment. This development is viewed favourably due to the segment’s higher growth rates.

The optimistic sentiment, combined with the anticipation of a recovery in the latter half of the financial year, has rubbed off on other listed footwear industry leaders as well.

Campus Activewear and Khadim India both closed Friday’s trading session with gains of 4 per cent each. Although brokerage firms hold a positive outlook on their

First Published: Aug 21 2023 | 06:11 AM IST

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