CEAT schedules board meet to consider fund raising

CEAT said that a meeting of board of directors of the company will be held on 25 September 2020 to consider and approve the proposal for raising of funds through issuance of Non-convertible Debentures on private placement basis.

The announcement was made after market hours yesterday, 21 September 2020. Shares of CEAT fell 4.69% to settle at Rs 913 yesterday.

The stock hit a 52-week high of Rs 1,101 on 12 February 2020. The stock hit a 52-week low of Rs 601.50 on 24 March 2020.

The tyre manufacturer reported consolidated net loss of Rs 34.76 crore in Q1 June 2020 as compared to net profit of Rs 82.60 crore in Q1 June 2019. Total income fell 36.33% to Rs 1,126.46 crore in Q1 June 2020 over Q1 June 2019.

CEAT, the flagship company of RPG Enterprises, is a tyre manufacturer and has a strong presence in global markets.

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