$BATAINDIA

Shares of Bata India Ltd soared over 16% after the footwear maker announced a new CEO on Thursday, ending the day among the best-performing stocks on the bourses. The board of directors approved the appointment of Sanjay S Rao as whole time director and CEO with effect from 24 August and as managing director from 1 October to 23 August 2031, Bata India said in a stock exchange filing. Current MD and CEO Gunjan Shah will complete his five-year term on 30 September. Rao currently serves as senior director of Nike Retail, where he oversees France and the Benelux markets – Belgium, the Netherlands and Luxembourg.