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Weekly tactical pick: CEAT

Valuation attractive; potential upside to stock on back of various factors

September 24, 2021 / 08:57 AM IST
Weekly tactical pick: CEAT

CEAT tyres | File Image

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

CEAT (CMP: Rs1,360, Nifty: 17,822.95) is our tactical pick this week as we focus on companies that have low risk and can perform strongly post the second wave of the pandemic on the back of demand recovery. The CEAT stock has corrected more than 20 percent from its highs in February 2021. The correction was triggered by the second Covid wave and concerns about rising raw material prices. In Q1 FY22, the company reported an EBITDA (earnings before interest, tax,...

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