Bata India has hit a new 52-week high today at Rs.1003.40, with almost 1,25 times spike up in volumes. It has come off the high but remains firmly in the green, up 4.3% at Rs.993.

The stock hit the roof after the market and investors were enthused by the fact that parent company, Bata BN BV yesterday bought 6.08 lakh shares of Bata India from the open market (BSE) at Rs.888.05/share. ICICI Brokerage was the seller, who sold 6.27 lakh shares at Rs.88.35/share.

The parent company as at 30^th Sept 2013 held 3.34 crore shares or 52.01% stake in the company. The stock is also riding high on the exuberant performance it posted for its third quarter ended 30^th Sept 2013, wherein posted a 14% rise in net sales at Rs.484 core and net profit rose 17% at Rs.37 crore.