CEAT advances as Amansa Holding Pte hikes stake

CEAT rose 3.24% to Rs 1,295.50 at 11:17 IST on BSE after Amansa Holding Pte hiked its stake in the tyre maker to 5.19%.

The company made the announcement after trading hours yesterday, 28 September 2016.

Meanwhile, the S&P BSE Sensex, was currently up 74.14 points or 0.26% at 28,366.95

On BSE, so far 2.03 lakh shares were traded in the counter, compared with average daily volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 1,310 and low of Rs 1,263.90 so far during the trading session. The stock had hit record high of Rs 1,318.30 on 7 October 2015. The stock had hit 52-week low of Rs 731.20 on 24 June 2016. The stock had outperformed the market over the past 30 days till 28 September 2016, rising 38.48% compared with 0.18% rise in the Sensex. The scrip had outperformed the market in past one quarter, gaining 48.43% as against Sensex's 4.79% rise.

The mid-cap company has equity capital of Rs 40.45 crore. Face value per share is Rs 10.

Amansa Holding Pte bought 4.75 lakh shares or 1.17% stake in CEAT through secondary market purchase. After the latest stake buy, Amansa Holding Pte's stake in CEAT rose to 5.19%.

CEAT's consolidated net profit fell 14.5% to Rs 104.06 crore on 4.04% increase in net sales to Rs 1460.92 crore in Q1 June 2016 over Q1 June 2015.

CEAT is one of India's leading tyre manufacturers. The company sells its tyres under the CEAT brand.

Powered by Capital Market - Live News