Ceat hits over 4-year high on healthy outlook; stock jumps 60% in 3 months

The company expects the overall tyre industry to perform well due to easing of pandemic-led curbs, pent-up demand from OEMs, and replacement segment.

Shares of Ceat edged higher by 10 per cent to over four-year high of Rs 1,516.15 on the BSE in Thursday’s intra-day trade, on healthy business outlook. The stock of leading tyre company traded at its highest level since May 2018. Earlier, it had hit a record high of Rs 2,030 in January 2018.

At 12:00 pm; Ceat traded 8 per cent higher at Rs 1,497, as compared to 0.58 per cent decline in the S&P BSE Sensex. In the past three months, the stock zoomed 60 per cent, as against 14 per cent rise in the benchmark index.