Credit rating agency, CARE has reaffirmed the assigned‘A1+ (SO)’ rating to Commercial Paper (CP) Programme of CEAT for Rs 20.00 crore. The bank guarantee from ICICI Bank is proposed to be unconditional and irrevocable, covering the entire tenure of CP.
Recently, Ceat, the RPG Enterprises tyre flagship had raised its tyres prices by 2-2.5 percent across categories. The company was expecting an improvement in margins from September quarter due to a fall in prices of rubber. However, the company had no plans to raise tyre prices further. Also, the company’s radial tyre plant at Halol, Gujarat has commenced commercial production on March 25, 2011 and is reportedly operating at around 45% capacity utilisation.
Ceat is among the best tyre manufacturers in India. Besides tyres, the company also manufactures and markets tubes and flaps. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks.
Company Name | CMP |
---|---|
MRF | 125800.00 |
Apollo Tyres | 463.70 |
CEAT | 2355.95 |
Balkrishna Inds. | 3049.85 |
JK Tyres & Inds. | 403.30 |
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