Bata India jumps 16% as Nike Retail's Sanjay Rao takes CEO chair
Sanjay S Rao steps in as Bata India CEO from 24 August, replacing Gunjan Shah. Market cheered the appointment with a 16.5% rally to ₹790.45, betting on a Gen-Z-led turnaround built around sneakers, a 25% digital sales target in three years, leaner inventory and a tighter store footprint.
Bata India shares jumped 16.5% after appointing Nike Retail's Sanjay S Rao as CEO from 24 August, replacing Gunjan Shah. Rao joins amid a Gen-Z-focused turnaround involving sneakers, digital sales push, inventory cuts and store network streamlining.