Buy Ceat, target Rs 1,900: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Ceat with a target price of Rs 1,900.

The current market price of Ceat is Rs 1,789.50.

Time period given by the analyst is intraday when Ceat price can reach defined target.

Manas Jaiswal recommended to keep a stop loss at Rs 1,740.

Ceat, incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 6,856.49 Crore) operating in Tyres sector.

Ceat key Products/Revenue Segments include Automobile Tyres which contributed Rs 5591.28 Crore to Sales Value (87.68 per cent of Total Sales), Automobile Tubes which contributed Rs 741.76 Crore to Sales Value (11.63 per cent of Total Sales), Scrap which contributed Rs 17.53 Crore to Sales Value (0.27 per cent of Total Sales), Grants which contributed Rs 13.02 Crore to Sales Value (0.20 per cent of Total Sales), Other Operating Revenue which contributed Rs 8.61 Crore to Sales Value (0.13 per cent of Total Sales), Royalty Income which contributed Rs 4.31 Crore to Sales Value (0.06 per cent of Total Sales)for the year ending 31-Mar-2017.

The company’s top management includes Mr.Anant Vardhan Goenka, Mr.Arnab Banerjee, Mr.Atul C Choksey, Mr.H V Goenka, Mr.Haigreve Khaitan, Mr.Hari L Mundra, Mr.Mahesh S Gupta, Mr.Paras K Chowdhary, Mr.Ranjit V Pandit, Mr.S Doreswamy, Mr.Vinay Bansal, Ms.Punita Lal.

Company has SRBC & Co LLP as its auditors.

As on 30-09-2017, the company has a total of 40,450,092 shares outstanding.