Buy Ceat, target price Rs 2930: Motilal Oswal

Motilal Oswal has buy call on Ceat with a target price of Rs 2930. The current market price of Ceat Ltd. is Rs 2543.15.
Ceat Ltd., incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 9934.74 Crore) operating in Tyres sector.

Ceat Ltd. key Products/Revenue Segments include Automobile Tubes, Other Operating Revenue, Scrap, Others, Royalty Income for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 2994.92 Crore, up .97 % from last quarter Total Income of Rs 2966.08 Crore and up 4.09 % from last year same quarter Total Income of Rs 2877.21 Crore. Company reported net profit after tax of Rs 92.87 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 47.21 per cent stake in the company as of 31-Mar-2024, while FIIs owned 20.16 per cent, DIIs 15.9 per cent.