Sell Ceat, target Rs 900: Jay Thakkar
Sell Ceat Ltd. at a price target of Rs 900.0 and a stoploss at Rs 935 from entry point.
Ceat Ltd. key Products/Revenue Segments include Automobile Tyres which contributed Rs 5529.03 Crore to Sales Value (87.34 % of Total Sales), Automobile Tubes which contributed Rs 715.25 Crore to Sales Value (11.29 % of Total Sales), Other Operating Revenue which contributed Rs 47.10 Crore to Sales Value (0.74 % of Total Sales), Scrap which contributed Rs 21.95 Crore to Sales Value (0.34 % of Total Sales), Grants which contributed Rs 12.73 Crore to Sales Value (0.20 % of Total Sales), Royalty Income which contributed Rs 4.19 Crore to Sales Value (0.06 % of Total Sales)for the year ending 31-Mar-2018.
For the quarter ended 30-06-2019, the company has reported a Consolidated sales of Rs 1752.10 Crore, down -.48 % from last quarter Sales of Rs 1760.47 Crore and up 1.75 % from last year same quarter Sales of Rs 1722.03 Crore Company has reported net profit after tax of Rs 76.96 Crore in latest quarter. 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.Pierre E Cohade, Mr.Ranjit V Pandit, Mr.Vinay Bansal, Ms.Punita Lal. Company has SRBC & Co LLP as its auditors. As on 30-06-2019, the company has a total of 40,450,092 shares outstanding.