Ceat, the country's fourth biggest tyre producer, is charting expansion plans for the international market, with launches planned in various countries, including the US, the world's biggest tyre market.
The move comes on the back of a series of next generation family members taking over the reins from current promoters. Roshni Nadar, daughter of HCL founder Shiv Nadar, took over as CEO of the company in July. Nandini Piramal, eldest child of Ajay and Swati Piramal, became executive director of Piramal Healthcare in April.
CEAT was for all practical purposes a sick company in 2001.
Since his comeback after an injury lay-off in August 2023, Jasprit Bumrah has been a key figure in India's success.
Rohit Sharma said the feeling of winning the World Cup that ended India's decade-long drought in global tournaments could not be described in words.
Aussie left-hander Mike Hussey edged out India's Mahendra Singh Dhoni to clinch the Debutant of the Year award.
India's top batsman Virat Kohli has won the Ceat International Cricketer of the Year award while off-spinner Ravichandran Ashwin, the fastest player from the country to pick 100 Test wickets, bagged the Indian Player of the Year award for 2013-14.
Indian batting stalwart Virat Kohli and Australia's Steve Smith would be more than keen to stamp their authority in the upcoming Border-Gavaskar series in which runs would be "at a premium", feels Australian great Matthew Hayden.
'Guys like Rishabh Pant have got a muscle memory and the thirst for victory.' 'He was such a key player last time he played there and the Australian public loved him as well, because of the nature of the way he played his game.'
Ceat, the tyre manufacturing company of the Rs 16,000-crore RPG Group, will double the capacity of the radial unit it has set up in Halol, Gujarat, with an additional investment of Rs 630 crore.
Anant Goenka, 30, son of RPG Group chairman Harsh Goenka, will take over as managing director of Ceat, where he is currently deputy managing director a post the tyre producer created two years ago.
Indian tyre makers are expanding their capacities in the wake of international players flooding the Indian markets.
India's middle order batsmen Virat Kohli and Suresh Raina won the Ceat International Youngster of the Year and T20 Player of the Year awards respectively at a glittering ceremony in Mumbai on Saturday.
The margins of tyre manufacturers could come under pressure given the rise in rubber prices and the moderating demand for tyres. In the past three quarters, the revenue growth for listed tyre companies has moderated from low to mid-single-digit on account of factors such as lower demand in replacement segments, weak export markets and the decline in the average selling prices to car makers (OEMs). Demand trends could remain muted in the near term, given the weak passenger vehicle replacement demand, assuming a typical replacement cycle of 3-5 years, and demand moderation in the OEM segment.
Quarterly earnings, global trends and trading activity of foreign investors will drive stock markets in this holiday-shortened week, analysts said. It will be a trading holiday on January 22, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya. Equity markets would also remain closed on Friday for Republic Day.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
Ghavri backed Ashwin for the upcoming World Cup, saying he will be vital in Indian conditions.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
Tyre stocks have been on a tear over the past six months, with average returns exceeding 45 per cent. Except for Apollo Tyres, which has seen a slight correction in the last month and a half, limiting its gains to 16 per cent, listed peers such as MRF, CEAT Tyres (formerly Cavi Elettrici e Affini Torino), and JK Tyre & Industries have delivered returns exceeding 30 per cent during this period. Production-related constraints and sluggish demand in Europe, where sales are expected to remain flat, coupled with high valuations, have contributed to Apollo Tyres' underperformance. The tyre sector's gains can be attributed to robust growth trends driven by the replacement market, which constitutes more than two-thirds of sales.
Shares of MRF crossed a first time Rs 100,000 mark, hitting a record high of Rs 100,300, up 1.4 per cent on the BSE in intra-day trade. on June 13, 2023. The stock surpassed its previous high of Rs 99,879.65, touched May 8, 2023. Thus far in the current calendar year 2023 (CY23), MRF has outperformed the market by gaining 14 per cent on improved financial performance.
Amid cooling raw material prices, the crude-oil linked companies, which includes paint and tyre firms, have been on a roll over the past one year. Shares of related companies have gained up to 84 per cent, as against a 14 per cent rise in the S&P BSE Sensex. Analysts, however, believe stretched valuations in both these sectors could trigger a de-rating.
The Kiwi bowler said all teams will look to have their World Cup players spending the coming weeks together in order to finalise their preparations for the mega event.
The crowd support for the Mumbai Indians is intriguingly much more vocal at the Maharashtra Cricket Association stadium in Pune than it is at the Brabourne or Wankhede stadiums in Mumbai city.
The stock market's momentum will be guided by the ongoing quarterly earnings season, with Reliance Industries, HUL and Bajaj Finance among those scheduled to announce their results this week, analysts said. Focus would also remain on the COVID situation, global stock markets, investment pattern of foreign institutional investors (FIIs), rupee-dollar trend and Brent crude, they added. "The earnings season would gain pace this week and participants will be closely eyeing the results of some of the top names like Reliance, Ultratech Cement, Bajaj Auto, JSW Steel, Bajaj Finance, Asian Paints, Hindustan Unilever among others. "Before that, markets will first react to the earnings of two heavyweights -- HCL Technologies and HDFC Bank in early trade on Monday," said Ajit Mishra, VP Research, Religare Broking.
Mumbai Indians captain Rohit Sharma said the key to their triumph in the eighth edition of the Indian Premier League was sticking together as a team despite getting off to a horrific start.
When a Future Group official was contacted, he refused comment but industry insiders confirmed that the pull-out was on the cards because of the financial health of the company.
This comes hours after Madhya Pradesh Home Minister Narottam Mishra issued a "24-hour ultimatum" and threatened to send the police after him.
India captain Virat Kohli was named as the International Cricketer of the Year at the CEAT Cricket Ratings awards in Mumbai, on Monday.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Industry insiders believe that the 32-year-old's earnings will see a quantum jump of Rs 75 crore per annum.
IPL 2020 was the first sports tournament to surpass 400 billion viewing minutes.
A blend of traditional as well as contemporary features, the All-New Thar exceeds expectations by far, says Rajesh Karkera/Rediff.com.
Kuldeep, however, said Dhoni is someone who puts forward his views in between overs only when he feels it is required.
Star India batsman Virat Kohli was on Monday named Ceat T20 Player of the Year while former India captain Dilip Vengsarkar was conferred with the Lifetime Achievement Award at a glittering function attended by several past and present players in Mumbai. England batsman Joe Root was named as the Ceat International Cricketer of the Year as well as International Batsman of the Year. India off-spinner R Ashwin won the Ceat International Bowler of the Year award while Rohit Sharma was named as the Indian Cricketer of the Year. Kohli has been in the form of his life in the shortest format recently as he was named as Player-of-the-Tournament in the World T20 held in India earlier this year and won the orange cap for amassing the most runs of 973 in 16 matches in the just-concluded IPL-9.
These include Adani Enterprises, BEML, TVS Motor, KEC International, Sintex Industries, Ceat and Suzlon Energy.
India will begin their World Cup campaign against South Africa at Southampton on June 5.
Suresh Raina currently endorses Ceat Tyres, Pureplay (apparel brand) and is expected to sign on Intex, a petroleum brand (he launched Repsol by Gulf Oil last year), and a health care brand.
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