CEAT rose 1% to Rs 317 at 12:21 IST on BSE, with the stock reversing direction after hitting 5% lower circuit.
Meanwhile, the BSE Sensex was down 9.90 points, or 0.05%, to 20,947.91
On BSE, 2.76 lakh shares were traded in the counter as against an average volume of 2.44 lakh shares in the past one quarter.
The stock saw immense intraday volatility. The stock opened with downward gap, sliding by the maximum 5% daily circuit and remained locked at the 5% level at Rs 298.20 in early trade. Thereafter, the stock recovered and rose as much as 1.32% at the day's high of Rs 318 so far during the trading session. The stock had hit record high of Rs 338.70 in intraday trade on Thursday, 5 December 2013. The stock had hit a 52-week low of Rs 87.15 on 22 March 2013.
The stock outperformed the market over the past one month till 5 December 2013, rising 52.1% compared with the Sensex's 0.08% fall. The scrip also outperformed the market in past one quarter, surging 200.91% as against Sensex's 10.42% rise.
The small-cap company has an equity capital of Rs 35.96 crore. Face value per share is Rs 10.
Shares of CEAT had declined by the maximum permissible level of 5% of the day to settle at Rs 313.85 on Thursday, 5 December 2013, after the Bombay Stock Exchange (BSE) all of a sudden reduced daily circuit filter in the stock to 5% from 10%. BSE on Wednesday, 4 December 2013, announced a reduction in circuit filter in the CEAT counter to 5% from 10%. Before Thursday's slide, shares of CEAT had surged 15.58% in three trading sessions to settle at Rs 330.35 on Wednesday, 4 December 2013, from a recent low of Rs 285.80 on 29 November 2013.
On a consolidated basis, CEAT's net profit surged 1909.2% to Rs 76.55 crore on 8.7% increase in net sales to Rs 1318.81 crore in Q2 September 2013 over Q2 September 2012.
CEAT is one of the leading tyre makers in India.
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