Ceat Limited up by 20%: Market Update By Espresso


Espresso Shot of the Day - Ceat Ltd up by 20 percent

September 15, 2022
Espresso Shot of the Day - Ceat Ltd up by 20 percent

CEAT LTD 1661.00 (+20.00%) BSE –INE482A01020 | 15th September 2022

CEAT, the flagship company of RPG Enterprises, was established in 1958. Today, CEAT is one of India’s leading tyre manufacturer with a capacity of over 800 tons per day and has strong presence in global markets. CEAT offers the widest range of tyres to all segments and manufactures world-class tyres for: Heavy-duty Trucks and Buses, Light Commercial Vehicles, Earthmovers, Forklifts, Tractors, Trailers, Cars, Utility Vehicles, Motorcycles, Scooters as well as Auto-rickshaws. CEAT enjoys a major market share in the Truck, Light Truck and 2-wheeler segment and its tubes and flaps are renowned for their superior quality and durability.

Recent Drivers

  • On September 12th 2022, Ceat Ltd informed that India Ratings & Research (Ind-Ra) has affirmed the ‘IND AA’ ratings to CEAT Limited's bank facilities. Further, it has also assigned an ‘IND AA’ rating to its proposed NCDs worth Rs150 crore.
  • On September 2, 2022, Ceat Ltd has received a 5-star rating from the Bureau of Energy Efficiency (BEE) for their passenger car tyres. The star ratings for tyres are similar to ratings which are awarded to consumer durables, including air conditioners and refrigerators.
  • Ceat Tyres Ltd. has introduced Winenergy X3-R tyres for electric buses on August 22,2022 which are being progressively rolled out on urban roads. “Data has shown that these tyres deliver 30% higher mileage, 30% better rolling resistance, and 50% reduction in tyre noise as compared to regular tyres. These parameters are particularly important in EV vehicles,” the company said in a statement. 
  • CEAT Ltd. plans to expand its tyre sales network in places with population of 5,000-10,000 via its FMCG style of distribution, aiming to double outlets to 1 lakh in two to three years, company COO Arnab Banerjee said on August 19,2022.Firm also eyes 1 Lakh outlets in 2-3 years.
  • On July 20th2022, the Company reported quarterly net Profit of Rs. 2.55 crore in June 2022.
  • On July 20th2022, the Company reported net sales of Rs 2,803.08 crore in June 2022 up 47.7% from Rs. 1,897.76 crore in June 2021.
  • Company recommended a Final Dividend of Rs. 3.00 per equity share of the face value of Rs. 10/- each (30%) on May 5th 2022, for the financial year ended 31 March 2022 subject to the approval of the members at ensuing Annual General Meeting of the Company. The ex-date for the same was June 10th
(Sources: BSE, Money control, Business Standard, Business Line, The Hindu)                            

Technical Force*

  • S&P BSE 500 month till date gain by 1.64%.
  • 3 months avg. NSE volume: 146,360.
  • Quantity traded: 95,480| Deliverable quantity: 31,986 (33.50%).
  • Stock price jumped by more than 80 % from a one-year low level: 890.00. (June 21, 2022)
  • Daily RSI (14) is near overbought territory today.
  • 52-week-high: 1,661.00| 52-week-low: 890.00.

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Some Key Ratios (Source: BSE)

Market Cap:  6,718.76 Crores

PE:  151.61

OPM%: 5.93

ROE%:  1.17

Promoters holding %: 47.21

Prev. Close:  1384.20


Chart and Technical Force data from the Binge desktop app

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.