CEAT trades higher on investing in Taabi Mobility
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CEAT is currently trading at Rs. 1495.00, up by 16.25 points or 1.10% from its previous closing of Rs. 1478.75 on the BSE.
The scrip opened at Rs. 1517.00 and has touched a high and low of Rs. 1517.00 and Rs. 1495.00 respectively. So far 2241 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1787.75 on 16-Sep-2022 and a 52 week low of Rs. 890.00 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1624.75 and Rs. 1468.85 respectively. The current market cap of the company is Rs. 6055.38 crore.
The promoters holding in the company stood at 47.21%, while Institutions and Non-Institutions held 33.60% and 19.20% respectively.
CEAT has invested in the paid-up capital of a wholly owned subsidiary (WOS) Taabi Mobility in order to carry out business of connecting commercial vehicles to the internet and providing web-based analytics to help customers manage their fleets better and reduce their total cost of operations and increasing uptime. The company is yet to commence its business.
CEAT is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.
