CEAT drops on profit booking

CEAT fell 3.85% to Rs 387 at 13:45 IST on BSE, with the stock declining on profit booking after the recent upmove.

Meanwhile, the BSE Sensex was down 185.52 points, or 0.85%, to 21,589.09

On BSE, so far 94,995 shares were traded in the counter, compared with an average volume of 1.33 lakh shares in the past one quarter.

The stock hit a high of Rs 401.30 and a low of Rs 382.50 so far during the day. The stock hit a record high of Rs 412.50 on Thursday, 13 March 2014. The stock hit a 52-week low of Rs 87.15 on 22 March 2013.

The stock had outperformed the market over the past one month till 13 March 2014, rising 35.80% compared with the Sensex's 7.83% rise. The scrip had also outperformed the market in past one quarter, gaining 24.11% as against Sensex's 5.11% rise.

The small-cap company has an equity capital of Rs 35.96 crore. Face value per share is Rs 10.

Shares of CEAT were on a roll recently, gaining 21.89% in four trading days to Rs 402.50 on 13 March 2014 from a recent low of Rs 330.20 on 7 March 2014.

On a consolidated basis, CEAT's net profit surged 198.5% to Rs 66.95 crore on 15.3% increase in total income to Rs 1442.34 crore in Q3 December 2013 over Q3 December 2012.

CEAT, the flagship company of RPG Enterprises, is one of lndia's leading tyre manufacturers and has strong presence in global markets, and produces over 700 tonnes of tyre per day.

Powered by Capital Market - Live News