Technical Analyst Kunal Saraogi has maintained 'hold' rating on Bata India Ltd stock with a stop loss of Rs 248.

Today, the shares of the company opened at Rs 262.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 303.35 and a low of Rs 116.80 on BSE.

Current EPS & P/E ratio stood at 11.10 and 24.51 respectively.

Bata India announced that it has reconstituted its deals with the Calcutta Metropolitan Group with which it has signed JV contract to strengthen its riverside properties in WB.

Following the recast, the company (BIL) will receive Rs 100 crore as a upfront payment.

The country's biggest footwear retailer declared an increase of 11.2% in its net profit for the first quarter ended March 2010.

BIL's quarterly net profit stood at Rs143.3 million as compared to net profit of Rs 103.3 mln in March 2009.

The company's net sales grew 11.2% at Rs 2.59 billion as compared to net sales of Rs 2.33 billion in the corresponding period of 2009.

Bata India launched 25 new Bata Shoe Stores, 2 Hush Puppies exclusive stores and 2 Hush Puppies Shop-in-Shops during the first quarter.

It also revivified 16 subsisting stores during the same period.

Marcelo Villagran, MD of BIL, said, "We will continue with our strategy of expansion in different markets by opening new stores and investing in building our brand."

BIL runs more than 1,200 Bata Shoe Stores in over 400 cities across India.