Tyre stocks jump on Ceat's Q4 revenue beat, positive commentary

JK Tyre & Industries

30/04/2025 10:09

** Tyre stocks soar after Ceat CEAT.NS announces Q4 earnings

** CEAT up 9% to four-month high of 3,348 rupees; set for biggest daily pct. gains since December 9

** Co misses Q4 profit estimates, but revenue beats expectations; sequential margin expansion and strong outlook cheer investors

** Co's comments that demand was healthy in replacement market positive for industry. Expect other domestic tyre players to report better numbers q/q basis, says ICICI Direct Research

** Apollo Tyres APLO.NS and JK Tyre & Industries JKIN.NS add 3.5% and 2.2%, respectively, while MRF MRF.NS rises 1.1%

** CEAT erases YTD losses, up 3.6%, while APLO and JKIN down 10.2% and 19.1%, respectively, and MRF up 2.7%

(Reporting by Vivek Kumar M)

((VivekKumar.M@thomsonreuters.com;))