Ceat Ltd., incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 5439.32 Crore) operating in Tyres sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1910.28 Crore, down -16.69 % from last quarter Total Income of Rs 2292.89 Crore and up 70.11 % from last year same quarter Total Income of Rs 1122.98 Crore. Company reported net profit after tax of Rs 16.05 Crore in latest quarter.
Investment Rationale
After a multi-month decline, the stock found renewed buying interest near the support zone. Base building pattern on short term charts indicates that stock is due for mean reversion. Hence, any positive follow-up action could lift the stock towards Rs 1,400 zone.
Promoter/FII Holdings
Promoters held 46.8 per cent stake in the company as of March 31, 2021, while FIIs held 27 per cent, DIIs 13.7 per cent and public and others 12.6 per cent.
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