Ceat reported a decline of 41.4 per cent in consolidated net profit, at Rs 121.88 crore for the September quarter, compared to Rs 208 crore, a year ago
Stock Market Today: Infosys has raised its sales forecast for FY25 to 3.75-4.5 per cent, reflecting a revival in demand, particularly in banking and financial services.
Earlier this month, brokerage firm Emkay Global Financial Services initiated coverage on Ceat with a 'Buy' rating and a target price of Rs 3,650
For over 8 months, CEAT has faced resistance around the 2,900 level. However, prices have now broken this range, confirming a strong 'Inverse Head and Shoulders' breakout
The installed capacity of the plant is expected to progressively reach 1,500 tyres per day in the next 12 months
CEAT is on the verge of breaking out from inverted head and shoulder pattern on the daily chart. Price rise was accompanied by healthy volumes
Trend of the Nifty is bullish and long positions should be held with 24,875 stoploss on closing basis. On the higher side, 25,078, 25,300 and 25,500 are the next resistances.
Tyre maker CEAT Ltd expects double-digit growth in replacement and international business this fiscal despite a high natural rubber price forcing it to hike product rates, according to its MD and CEO Arnab Banerjee. The company, which has taken price hikes of 2-2.5 per cent in the replacement segment since May, expects another round of increase towards the end of July but is betting on robust demand across categories and turnaround of the rural market to drive growth. "We would like to think that unless there are some unforeseen headwinds, the growth will be steady and positive. We would like to maintain double-digit growth in the replacement segment and international business," Banerjee told PTI. As for the company's sales to OEM, he said, "We see growth potential much ahead of 3 per cent in the passenger segment for CEAT on the basis of the model pipeline". In the first quarter of the ongoing fiscal, the company had posted good topline growth as rural demand has come back while .
The Indian tyre maker becomes official tyre partner of the football club for next 2 years
On a sequential basis, the company exhibited a 6.73 per cent increase in revenue, along with PAT, which also rose by 32.04 per cent
Crude prices, which hovered around $88 to 90 over the past three months, represent a 6 to 8 per cent increase from the previous quarter, adding further strain on manufacturers' margins
CEAT stock reacts to Q4 earnings; CEAT March quarter net dipped 23 per cent YoY to Rs 102 crore as against the Bloomberg analyst expectations of Rs 169 crore.
Ceat, whose customers include automakers Maruti Suzuki and Mahindra & Mahindra, is the first Indian tyremaker to report results this quarter
Stocks to Watch on Friday, March 15, 2024: The Centre has reduced prices of petrol and diesel by Rs 2 per litre, effective from March 15, 6 AM
Ceat's share price rose by 4.34 per cent, ending the day's trade at Rs 2,875 apiece on the BSE
The company, which on Friday launched its new premium range of two-wheeler steel radial tyres, is targetting both aftermarket and original equipment manufacturer (OEM) segments
Tyre maker CEAT Ltd on Thursday said it has received a demand notice of Rs 1.98 crore for GST, along with a penalty from the Additional Commissioner, CGST, and Central Excise. The demand pertains to the disallowance of transitional credit and Trans2 credit under the applicable provisions of the CGST Act, 2017, the company said in a regulatory filing. The Additional Commissioner, CGST & Central Excise, Vadodara-II, issued the order for a demand of Rs 1.80 crore, along with a penalty of Rs 18 lakh, it added. "The company is in the process of analysing the matter and taking appropriate action for an appeal to be filed with the appellate authority," CEAT Ltd said. On the impact on financial, operation or other activities of the company quantifiable in monetary terms to the extent possible, CEAT said, "(It is) not ascertainable at this stage.
Rural demand for two-wheeler tyres in the replacement segment is yet to see a complete revival but there is optimism that the festive season will give it a fillip, according to CEAT Ltd MD & CEO Arnab Banerjee. With crude prices rising again after the recent geopolitical disturbance, there is uncertainty over crude-based raw material costs and if prices increase it could be a dampener to future growth. "The two-wheeler replacement market is growing year-on-year in strong single digits, which is much much different from quarter one. However, we are yet to see a complete revival in rural demand," Banerjee told PTI. On the challenges in the rural market, he said while monsoon has been good in several parts of the country it was patchy and most of East and North East India didn't get good monsoon. Usually in Q2 demand dips in Q2 because of monsoon but it has not happened, he said adding, "So the market is in a similar state. It has not accelerated yet. Banerjee, however, said in the .
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We first received the Deming Award in 2017, and earning the Grand Award now underscores our dedication, says Bannerjee