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Since December 11, the stock price of JK Tyre has appreciated by 10 per cent after the HDFC Mutual Fund acquired 257,305 equity shares or 0.09 per cent stake in the company via open market purchase.
The brokerage said most major OEMs reported double-digit year-on-year volume growth, aided by festive spillover, GST 2.0-led affordability, improved rural sentiment and robust export demand
JK Tyre & Industries, TVS Srichakra, Apollo Tyres and Balkrishna Industries were up in the range of 3 per cent to 8 per cent on the BSE in Monday's intra-day trade.
RPG Group-owned Ceat reports strong double-digit growth in Q2FY26 as Camso integration, festive demand, and robust OEM volumes drive profits and revenue
Revenue from operations increased 14.2 per cent. Total expenses rose 12.2 per cent, with the cost of materials consumed climbing 9.6 per cent
Among other tyre makers, Balkrishna Industries, Apollo Tyres and Ceat were up 2 per cent to 3 per cent on the BSE in intra-day trade.
In the past one month, the BSE Auto index has outperformed the market by soaring nearly 15 per cent, as compared to 1.4 per cent gain in BSE Sensex.
Analysts see the deal as transformative for CEAT's positioning in the high-margin off-highway tyre (OHT) space, upgrading the stock to a 'Buy'.
CEAT expects a 10-15% topline boost after acquiring Michelin's Camso compact construction line in a $225 mn deal, gaining Sri Lanka plants and global brand rights
Tyre maker Ceat on Tuesday said it expects the Camso brand integration with itself to give a 10-15 per cent boost to its topline. The Mumbai-headquartered firm reported revenue of Rs 13,218 crore for FY25. Last December, Ceat entered into a definitive agreement with Michelin to acquire its Camso brand's off-highway construction equipment bias tyres and tracks business for about USD 225 million. Ceat is currently in the process of integrating Camso with itself. "Once we integrate it fully across the supply chain, the immediate topline impact could be 10-15 per cent. The bottom line impact in terms of margin accretion, etc, would take some time to kick in about four to six quarters," Ceat MD and CEO Arnab Banerjee said in a virtual press conference. The company expects the deal to be overall margin accretive for it, he added. The Camso acquisition, according to the tyre maker, is significant for its ambition to become a leading global player in the high-margin off-highway tyres (OH
Ceat shares jumped 4 per cent it acquired Michelin Group's Camso Construction Compact Line business, which includes two plants in Sri Lanka
Kotak Institutional Equities believes multiple government initiatives, including potential Goods and Services Tax (GST) cuts, will drive auto demand
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The investment is aimed at expanding manufacturing capacity for off-highway tyres (OHT) and tracks at the Midigama and Kotugoda facilities
At 10:04 AM, CEAT share was trading 1.46 per cent lower at ₹3,799 per share. In comparison, BSE Sensex was trading 0.39 per cent lower at 81,939.81 levels.
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The company's revenue for the quarter rose to ₹3,529.41 crore, up 10.5 per cent y-o-y from ₹3,192.82 crore and 3.2 per cent sequentially from ₹3,420.62 crore
Ceat Q1 net profit declines 27 per cent due to IPL-linked marketing spends and higher input costs even as revenue rises 10.5 per cent on strong OEM and replacement demand
Tyre stocks rallied today on expectation that the recent correction in raw material prices will benefit the companies favourably from the latter part of Q2FY26