Bata India (which is in 22 largely bullish stock screeners) hit a new high today as analysts are increasingly bullish about the company's March quarter results. The company is among the stocks with the highest FII holdings in the Indian market, with 10.4% of stocks with FIIs. It has also seen holdings increasing among institutional and mutual fund players QoQ. 

The company's strong December performance, where net profits jumped over 51% YoY, is in line with management comments of increasing revenue from more upmarket offerings, helping the firm improve its margins. Management reports two significant factors driving growth - "premiumisation", and expansion from tier3 and tier4 cities. There is a large untapped market for Bata in these regions, according to senior management, and consequently a plan to add 500 more stores through both franchising and own efforts to hit these markets.