CEAT Ltd approves investment of Rs. 396 crores on capex

The Board of Directors of CEAT Ltd at its meeting held today, i.e. on Monday, November 7, 2022, considered and unanimously approved an additional investment by way of capex of approx. Rs. 396 Crores (Rupees Three Hundred and Ninety Six Crores), to enhance capacity of farm radial tyres at the Ambarnath plant of the Company, by 55 Tons Per Day (TPD) capacity over a period of next two years. The investment is proposed to be funded through a mix of debt and internal accruals.

Shares of CEAT Limited was last trading in BSE at Rs. 1582.55 as compared to the previous close of Rs. 1510.20. The total number of shares traded during the day was 15557 in over 2056 trades.

The stock hit an intraday high of Rs. 1592.00 and intraday low of 1506.45. The net turnover during the day was Rs. 24248215.00.

Source : Equity Bulls

Keywords

CEAT INE482A01020 Capex Investment Expansion