This Midcap Stock Made Mukul Agrawal ₹14 Cr Richer Today

Shares of Ceat soared close to 13% to hit a new 52-week high of ₹2,369.90. Ace investor Mukul Agrawal owns a 1.24% stake in the tyre company.

The surge in the stock comes a day after the company opened its new Truck Service Hub in Gwalior. Located in Gwalior’s Transport Nagar, this facility is the company’s third establishment of its kind in the region.

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So, with this massive surge here’s how this stock added ₹14 crore to Agrawal’s net worth today. He owns 1.24% or five lakh shares of the company. So, on Wednesday, when the stock closed at ₹2,093.50 the value of his holding was at ₹104.67 crore. Today, after the surge, his stake’s value went up to ₹118.49 crore.

Ceat’s share price has been on an impressive rally since the start of the year. On a year-to-date basis, the stock has gone up over 40%.

Price Action: At the time of writing, Ceat’s share price was up 10.94% to trade at ₹2,322.45 on Thursday.

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Posted In: EquitiesMarketsMoversTrading IdeasCeatMukul Agrawal