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.
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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