Ceat shares tumble 10% after Q2 outcomes

Shares of tyre maker Ceat Ltd on Tuesday tumbled almost 10 per cent after the corporate reported a 77 per cent decline in consolidated web revenue for the second quarter ended September 30.
The inventory tanked 9.92 per cent to Rs 1,165 on the BSE.
At the NSE, it tumbled 7.94 per cent to Rs 1,191.
Tyre maker Ceat Ltd on Monday reported a 77 per cent decline in consolidated web revenue at Rs 42.28 crore for the second quarter ended September 30, impacted by increased enter prices.
The firm, which posted a consolidated web revenue of Rs 182.18 crore in the identical quarter final fiscal, additionally stated its board at a gathering held on Monday accepted elevating of as much as Rs 500 crore by issuance of debt securities on a personal placement foundation.
Consolidated income from operations throughout the quarter underneath overview stood at Rs 2,451.76 crore, as towards Rs 1,978.47 crore within the year-ago interval, Ceat Ltd stated in a regulatory submitting.