Buy Ceat, target price Rs 1273: ICICI Securities

ICICI Securities has buy call on Ceat with a target price of Rs 1273. The current market price of Ceat Ltd. is Rs 979.55.
Time period given by analyst is one year when Ceat Ltd. price can reach defined target.

Ceat Ltd., incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 3952.18 Crore) operating in Tyres sector.


Ceat Ltd. key Products/Revenue Segments include Automobile Tubes, Scrap, Other Operating Revenue, Royalty Income, Others for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2416.44 Crore, down -1.55 % from last quarter Total Income of Rs 2454.52 Crore and up 8.59 % from last year same quarter Total Income of Rs 2225.30 Crore. Company reported net profit after tax of Rs -29.07 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 47.11 per cent stake in the company as of 31-Dec-2021, while FIIs owned 22.71 per cent, DIIs 12.72 per cent.