The Ceat stock is gaining interest amid the bullishness as the company is sitting on a large real estate. The company has 57-58 acres of land at Bhandup in Mumbai which it is planning to dispose off. The sale proceeds are expected to make the company debt-free.
Further, the company has regained its pricing power for its products along with other tyre companies as demand for automobiles has been robust.
Stock of the week
The Vimta Labs stock gained about 19.5 per cent over the past week to close at Rs 255.9. Recently, India Fund and Franklin Templeton Mutual Fund acquired 5.2 per cent and 6 per cent stake respectively in the preferential issue of the company. Vimta's activities are spread over four areas - contract research, clinical reference laboratory services, testing and validation and environmental consultancy. It is a leading provider of multi-disciplinary contract research and testing services in India. It also assists pharma firms in developing generic drugs in clinical research and bio-equivalence studies. | ||||||||||||||||
