Neutral on Bata India, target price Rs 1,240: Motilal Oswal Financial Services

Motilal Oswal Financial Services has issued a neutral recommendation on Bata India, targeting a price of Rs 1240. Bata India reported a net profit of Rs 51.98 crore for the latest quarter, with a total income decline of 11.09% from the last quarter, while an increase of 2.36% from the same quarter last year. Promoters hold a 50.