CEAT has been allowed by the Reserve Bank of India (RBI) to raise foreign investment, allowing overseas investors to buy up to 45 per cent of the paid up capital in the company. With this, Foreign Institutional Investors (FIIs)/Registered Foreign Portfolios Investors (RFPIs) can now invest up to 45 per cent of the paid up capital of CEAT under the Portfolio Investment Scheme (PIS).
The purchases could be made through primary market and through stock exchanges. As per the data available on the BSE, FIIs held 15.65 per cent shares of the company as of September 30, 2014. FIIs, RFPIs, NRIs and Persons of Indian Origins can invest in primary and secondary capital markets in India through PIS.
Ceat is among the best tyre manufacturers in India. It manufactures a wide range of tyres for two-wheelers, three-wheelers, four-wheelers, tractors and tippers and trucks. Besides tyres, the company also manufactures and markets tubes and flaps.
| Company Name | CMP |
|---|---|
| MRF | 139281.55 |
| Apollo Tyres | 441.50 |
| CEAT | 3796.75 |
| Balkrishna Inds. | 2284.55 |
| JK Tyres & Inds. | 419.15 |
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