Stock of tyre maker was up 20% on Thursday
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.
The tyre industry is expected to perform well mainly due to easing out of pandemic, increasing demand from OEMs and replacement segment.
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CLOSING BELL: Around 3:30 PM, the mega IPO of Life Insurance Corporation (LIC) was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times
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The spokesperson further said, "We categorically deny any wrongdoing in our conduct of business"
The CCI on Wednesday said Supreme Court dismissed a petition filed by tyre companies wherein they had challenged the regulator's order imposing penalties on them for anti-competitive practices
The management said the company is witnessing muted demand in the replacement segment due to tepid consumer sentiment, higher fuel prices and a softer uptick in India's rural markets.
The company had posted a net profit of Rs 132 crore in the third quarter of the financial year 2020-21
Stock market LIVE: Sector-wise, only Auto, metals and energy stocks were trading higher. Meanwhile, Nifty IT index, down nearly 2 per cent , was still the biggest loser. .
The risk reward ratio for CEAT looks highly lucrative at current levels to go long for a bounce.
Valuation and inflation worries, high crude prices and sustained selling by foreign funds may weigh on market sentiment, while stock specific action shall continue
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Tyre major Ceat is aiming at increasing production capacity to around 1,400 tonne a day over next18 months as it looks to cater to enhanced demand in both domestic and export markets
The spike in commodity prices has impacted gross margins
Tyre maker CEAT on Wednesday said it will supply its high performance CZAR HP range of tyres for Mahindra & Mahindra's new seven-seater Bolero Neo sports utility vehicle. The announcement came a day after M&M launched the new SUV built on third generation chassis shared with Scorpio and Thar, with the Mahindra mHawk engine. CEAT Ltd has collaborated with Mahindra, for its newly launched Mahindra Bolero Neo. CEAT will be supplying the CZAR HP range of tyres for the new vehicle, the company said in a release. In the past also, CEAT has also partnered with Mahindra for tyre supplies for its various other vehicle models. Designed to provide better steering control and higher fuel efficiency, the tyre has been optimized to perfectly complement the exceptional performance of Bolero Neo, CEAT Ltd said. "We take pride in our association with Mahindra, which has grown over the years. We have come a long way since 2015, and the Mahindra Bolero Neo is a testimony of our unwavering ...
Tyre maker Ceat Ltd reported a nearly three-fold increase in standalone net profit to Rs 141.84 crore in the March quarter of the previous financial year