Introduction:
Leading tyre manufacturer has acquired Michelin’s Camso brand Off-Highway Tyres and Tracks business in a $225 million deal. The acquisition expands the company’s portfolio in high-margin sectors, providing access to global markets and over 40 OEMs.
Also Read: Steel stock jumps % after it receives order worth ₹1500 Cr for water treatment plant project
Share price movement of CEAT:
On December 9, 2024, CEAT Ltd. opened at ₹3,240.05, up 4.80% from its previous close of ₹3,092.10. The stock reached a high of ₹3,466.40 (11.25%) and a low of ₹3,237.05. By 12:16 PM, it traded at ₹3,439.90, an 11.25% increase, with a market cap of ₹13,914.43 crore.
CEAT acquires Camso brand:
CEAT, part of the RPG Group, has acquired Michelin’s Camso brand Off-Highway Tyres and Tracks business in a $225 million all-cash deal. The acquisition includes two manufacturing facilities and global ownership of the Camso brand for construction equipment tyres and tracks.
With revenues of approximately $213 million in 2023, Camso holds a strong market position in Europe and North America. The acquisition expands CEAT’s product portfolio, especially in high-margin Off-Highway Tyres (OHT) and tracks, including agriculture and power sports.
As part of the deal, Michelin will exit the Compact Line bias tyres and construction tracks sectors. The acquisition marks a key milestone for CEAT, giving it access to a global customer base, including over 40 international OEMs and premium OHT distributors.
Recent news on CEAT:
As of December 05, 2024, CEAT has appointed Debashish Roy as its Chief Digital Transformation Officer. With over 15 years of experience, Roy previously held leadership roles at Pfizer, Abbott, PwC, and Cognizant, focusing on digital innovation and customer experience.
Ace investor holding in CEAT:
Mukul Mahavir Agrawal
Mukul Mahavir Agrawal holds a 1.11% stake in CEAT Ltd., with 450,000 shares valued at ₹154.6 crore. This investment highlights his significant position in the company, reflecting confidence in its growth prospects.
Stock performance of CEAT for Period of 1 week, 6 months and 1 year:
CEAT Ltd. experienced a minor dip of 0.38% over the past week, but its performance over the long term has been impressive, with a 22.4% increase in the last six months and a 33.3% rise over the past year, reflecting strong growth.
Also Read: Stock under ₹20 jumps after it acquires 49% stake in 3 companies
Shareholding pattern of CEAT:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 47.20% | 47.20% | 47.20% |
| FII | 16.70% | 18.80% | 20.20% |
| DII | 19.80% | 17.10% | 15.90% |
| Public | 16.40% | 16.90% | 16.70% |
About CEAT:
CEAT Ltd. (NSE: CEATLTD), an RPG Company, is a leading Indian tyre manufacturer offering a range of tyres for various vehicles. It exports to over 110 countries and has received global recognition for its quality and adoption of Industry 4.0 technologies.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
