IPL 2024: CEAT Secures IPL ‘Strategic Timeout’ Partnership for Rs 240 Crore

The tire producer CEAT Ltd. saw a 3% expansion in share cost today following the declaration that the Board of Control for Cricket in India (BCCI) has picked the company as an official partner to sponsor specific IPL match sections. More than a five-year time frame, the coordinated effort plan is worth Rs 240 crore.Against the previous finish of Rs. 2904.60 on the BSE, CEAT shares increased 3.04% to Rs. 2993. A total of 7149 shares of the company were traded on the BSE, resulting in a turnover of Rs 2.11 lakh. Once 2.20 lakh shares were traded on the NSE, the company’s turnover increased to Rs 65.15 crore.

The organization’s fairly estimated worth was Rs 11,919 crore on the BSE. It was esteemed at 11,917 crore on the NSE. In contrast with the past NSE close of Rs 2906.85, the stock came to an intraday high of Rs 2993.75. The stock almost arrived at the untouched high of Rs 2997.25, which was arrived at on January 20, 2024.

CEAT Reports Impressive Q3 Results with Over 300% YoY Profit Surge

The organization asserted that its benefit after charge (PAT) expanded by in excess of multiple times year over year (Y-o-Y) in the second from last quarter that finished on December 31, arriving at Rs 181.48 crore. Ceat’s working income expanded 8.6% year over year to Rs 2,963.14 crore.

Actually talking, the stock’s general strength record (RSI) is 48.9, demonstrating that it isn’t exchanging the overbought or oversold range. While Texmaco Rail shares are exchanging lower than the 20-and 30-day moving midpoints, they are exchanging higher than the 5-, 10-, 50-, 100-, and 200-day moving midpoints.