Analysts say that the high double-digit volume growth for the quarter was a positive surprise and reinforced the company's dominant position in the global off-highway segment.
In Q4FY26, Ceat delivered high growth in all segments including international business, despite geopolitical tensions.
Apollo Tyres, CEAT, Balkrishna Industries share prices could fall up to 24% from current levels, cautions technical analysts Kunal Shah of Mirae Asset Sharekhan.
JM Financial initiated coverage with a 'buy' rating on Balkrishna Industries and a target price of ₹2,540, an upside potential of about 15.5 per cent from Thursday's close
Balkrishna Industries earmarks Rs 3,500 crore to enter India's consumer tyre market, targeting a 2.2x rise in revenue by FY30 under its Vision 2030 strategy.
Volume growth of tyre companies remained healthy, supported by robust momentum in both the OEM and replacement segments, along with continued premiumisation, said Ceat management.