BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains buy on Ceat
Ceat's Q1 earnings were in-line with expectation. Although its EBITDA margin contracted 370 basis points annually to 12.6 per cent on price cuts, a 13 per cent growth in volumes aided top-line growth. We derive comfort from Ceat's improving product mix.