Ceat extends rally for third day; surges 14% on healthy outlook

Shares of Ceat hit a new high of Rs 2,948, as they surged 14 per cent on the BSE in Saturday’s intra-day trade aftert the tyre maker announced its foray into steel radial tyres for two-wheelers.

The stock was trading higher for the third straight day, zooming 22 per cent during this period. In past one month, it has rallied 41 per cent. In comparison, the S&P BSE Sensex was traded flat at 71,698 at 12:56 PM.

Ceat on Friday launched its new premium range of two-wheeler steel radial tyres, targeting both aftermarket and original equipment manufacturer (OEM) segments. The company aims