How do you think the latest quarter results of Ceat Ltd will impact the stock price?
Answer
Answer
Ceat reported 19% drop net profits at Rs.52 crore largely due to lower vehicle sales during the quarter, which saw lockdown imposed during the festive season. Total revenues were down 11% at Rs.1573 crore in the Mar-20 quarter. Its FY20 full year profits stood at Rs.231 crore; 8% lower. The fortunes of the stock will depend on a pick-up in auto demand.