Sell Ceat, target Rs 1,640: Dr CK Narayan
ETMarkets.com|
Sep 28, 2017, 08.47 AM IST
Dr CK Narayan of Chart Advise has a sell call on Ceat with a target price of Rs 1,640.
The current market price of Ceat is Rs 1,669.65.
Time period given by the analyst is intraday when Ceat price can reach defined target.
Dr CK Narayan recommended to keep a stop loss at Rs 1,680.
Ceat, incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 6,753.75 Crore) operating in Tyres sector.
Ceat key Products/Revenue Segments include Automobile Tyres which contributed Rs 5,591.28 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.
For the quarter ended 30-06-2017, the company has reported a Consolidated sales of Rs 1,459.73 Crore, up 0.13 per cent from last quarter Sales of Rs 1,457.83 Crore and down 0.08 per cent from last year same quarter Sales of Rs 1,460.92 Crore.
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 31-03-2017, the company has a total of 40,450,092 shares outstanding.
The current market price of Ceat is Rs 1,669.65.
Time period given by the analyst is intraday when Ceat price can reach defined target.
Dr CK Narayan recommended to keep a stop loss at Rs 1,680.
Ceat, incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 6,753.75 Crore) operating in Tyres sector.
Ceat key Products/Revenue Segments include Automobile Tyres which contributed Rs 5,591.28 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.
For the quarter ended 30-06-2017, the company has reported a Consolidated sales of Rs 1,459.73 Crore, up 0.13 per cent from last quarter Sales of Rs 1,457.83 Crore and down 0.08 per cent from last year same quarter Sales of Rs 1,460.92 Crore.
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 31-03-2017, the company has a total of 40,450,092 shares outstanding.
