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The company will acquire 21,055 equity shares of Tyresnmore. The company's shareholding post this proposed investment remains 100%.
The said transaction will be completed on or before 20 January 2025.
CEAT, the flagship company of RPG Enterprises, is one of India's leading tyre manufacturers and has a strong presence in global markets. CEAT produces more than 41 million high-performance tyres, catering to various segments like 2-3 wheelers, passenger and utility vehicles, commercial vehicles and off-highway vehicles.
The tyres manufacturing company's consolidated net profit fell 41.4% to Rs 121.88 crore in Q2 FY25 as compared to Rs 208 crore posted in Q2 FY24. Revenue from operations increased 8.22% year on year (YoY) to Rs 3,304.53 crore in the quarter ended 30 September 2024.
The counter declined 3.44% to end at Rs 3068.40 on Monday, 6 January 2025.
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