Shares of tyre maker Ceat surged nearly 5 per cent today after the company reported an 11.5 per cent rise in consolidated net profit for the March quarter.
The stock ended the day at Rs 1,166.25, up 4.14 per cent, on BSE. During the day, it gained 5.61 per cent to Rs 1,182.75.
On NSE, the scrip climbed 4.63 per cent to close at Rs 1,173.60.
The company added Rs 187.49 crore to its market valuation, which stands at Rs 4,717.49 crore.
Ceat yesterday reported an 11.47 per cent increase in its consolidated net profit at Rs 104.69 crore for the March quarter.
The company had posted a consolidated net profit of Rs 93.91 crore in the year-ago period.
Net sales declined marginally to Rs 1,450.66 crore during the quarter under review as against Rs 1,457.96 crore in the corresponding quarter of previous fiscal.
For the entire fiscal, the company said its net profit rose 40.76 per cent at Rs 446.49 crore compared with Rs 317.18 crore in the previous fiscal.
