Page 6 - Ceat
CEAT signs MoU with Tamil Nadu govt to set up Rs 40-billion plant
The investment will spread over the next 10 years and will give direct employment to around 1,000 people
 "CEAT signs MoU with Tamil Nadu govt to set up Rs 40-billion plant")
Tamil Nadu Cabinet gives nod to Ceat's Rs 40-bn tyre manufacturing unit
A proposal from tyre manufacturer Ceat to set up a manufacturing facility in Tamil Nadu with an investment of Rs 40 billion received a cabinet nod on Wednesday. The decision is taken at a time when the State has been under criticism for not attracting more investments, especially in its strong hold of autmotive sector, while the neighbouring states are getting more investments.According to a source from the State government, the Cabinet meeting held today discussed the proposal, which has been on talks for several months now, and approved. With this, the company can go ahead and start procedures to set up the facility. While reports earlier said that the investment proposal is to the tune of around Rs 50 billion, sources now said that the proposal approved is for Rs 40 billion. Ceat has already purchased the land for the facility, they said.The State government will soon sign an MoU with the company to take the investment proposal forward.It may be noted that a proposal from PSA ...
 "Tamil Nadu Cabinet gives nod to Ceat's Rs 40-bn tyre manufacturing unit")
Ceat tanks 8% as Q1 net profit dips nearly 100%
The stock was still trading over 100% higher against its 52-week low
 "Ceat tanks 8% as Q1 net profit dips nearly 100%")
Ceat Q1 net profit dips 17% to Rs 93 crore
The company's shares ended 0.39% up at Rs 883.70 apiece on BSE
 "Ceat Q1 net profit dips 17% to Rs 93 crore")
