Bata India is amongst the top losers of the day currently. From a closing of Rs.1253 yesterday, the stock opened lower today at Rs.1214, slipped to an intra day low at Rs.1200 and currently remains over 2% down.

The stock is reacting to the disappointing set of numbers for its second quarter ended 30^th June 2014. The company reported an over 4% (YoY) drop in net profit for the quarter at Rs.59 crore. Net sales had shown rise of 9% at Rs.621 crore and the slip in the bottomline was on account of a rise in operating costs, there is an expense of Rs.2 crore on its VRS and tax outgo too has risen 7% at Rs.29 crore.

For the six months ended 30^th June’14, net profit fell 2% at Rs.99 crore but the company has stated that this year’s numbers include an investment of Rs.5 crore made in Spring Summer 2014 marketing campaign and it hopes that benefits of the same will accrue during the second half of the year. It plans to open 100 new stores this year. The market is not happy with any of these assuarnces at the moment and traders have decided to get out, for now.