CEAT surges 4% as co announces tyre distribution deal with Pirelli

NEW DELHI: Shares of CEAT surged over 3 per cent in Wednesday's trade after the company announced a partnership with global tyre-making giant Pirelli for distribution of its premium motorcycle tyres in India.

Reacting to the development, the scrip surged 3.48 per cent to hit a high of Rs 1,085.70 on the BSE.

CEAT can leverage its vast distribution network in India to make the most out of the deal. Pirelli is set to offer its entire gamut of motorcycle tyre products under the arrangement.