Aug 01, 2012, 02.29 PM IST

Ceat returns to profits in Q1, stock spikes 7%

Shares of Ceat gained as much as 7% intraday on Wednesday as the company has posted consolidated profit of Rs 29 crore in the first quarter of FY13 as against a loss of Rs 49 crore in a year ago period.

Source: Moneycontrol.com
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Shares of Ceat gained as much as 7% intraday on Wednesday as the company has posted consolidated profit of Rs 29 crore in the first quarter of FY13 as against a loss of Rs 49 crore in a year ago period. Consolidated net sales rose by 10.3% to Rs 1,225 crore from Rs 1,110.5 crore during the same period.


At 14:23 hours IST, the share was trading at Rs 103.00, up 5.05% amid heavy volumes.
 
Its trading volumes jumped 2055% to 3,27,329 equity shares as compared to its 5-day average of 15,190 shares.


Yesterday, the share rose 2.3% to close at Rs 98.05. Market capitalisation of the company currently stands at Rs 352.71 crore.


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