ByronPope - China Automobile Expert-CNAUTO

iStock Featured Image Related Ceat Q3 results: company reports Rs 20 cr loss as soaring raw material prices impact margins. CEAT reports Rs 2,100 crore loss in Q3, shares fall 8%. Bajaj Auto’s net worth declined 22% in Q3 due to high investment costs. Hindustan Unilever is likely to perform below expectations in Q3 Bajaj Financial has scope for further growth : Siddhartha Khemka Tire maker Ceat has decided to reduce and defer 40% (i.e. 50 CAPEX of Rs 100 crore for FY 2023 due to sharp fall in demand for tires from road transporters. To make matters worse, rising raw material prices continued to put pressure on the company’s costs, forcing it to raise prices, leading to a loss in the third quarter due to surging costs. The company plans to raise prices by 2% 3% this quarter to improve margins. Ceat Managing Director Anant Goenka told The Economic Times that the planned investment of Rs 120 crore in a commercial vehicle (CV) tire plant near Chennai would be red...

Vehicles

Tyre

Auto Spareparts

Material

Const machinery & Agro equipment

Ceat to prune and postpone investment in new plant due to tepid demand, eroding margins