Ceat Ltd board approves capex of Rs. 1205 crores in Chennai plant

The Board of Directors of Ceat Ltd at its meeting held on May 05, 2021, has considered and unanimously approved the additional investment by way of capex of approx. Rs. 1205 crores (Rupees One Thousand Two Hundred and Five Crores), to enhance capacity of Truck Bus Radial (TBR) at the Chennai greenfield plant of the company, in two phases, up to 190 tons per day (TPD) capacity over a period of next four years. The investment is proposed to be funded through a mix of debt and internal accruals.

Shares of CEAT LTD. was last trading in BSE at Rs.1378.95 as compared to the previous close of Rs. 1382.05. The total number of shares traded during the day was 16017 in over 1048 trades.

The stock hit an intraday high of Rs. 1429.25 and intraday low of 1373. The net turnover during the day was Rs. 22428832.

Source : Equity Bulls

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