The Hindu Business Line : Ceat hits ceiling on real estate talk

Ceat Ltd today hit the upper circuit on Tuesday in the last trading hour with a surge in volume. On the BSE, the stock closed up around five per cent at Rs 103.80, after touching Rs 104.05; some 2.95 lakh shares changed hands (fortnightly average is 1.09 lakh shares). On the NSE, it logged a traded quantity of 4.83 lakh shares.

According to market sources, around 3 p.m. talk of the company finalising a real estate deal spread on Dalal Street.

According to rumours, agreement for sale of a plot of land at Bhandup had been arrived at with another corporate entity for Rs 450 crore. No official confirmation was available. Earlier in May, the company had clarified to the BSE that "the company does not have any immediate plan with regard to disposal of land at the Bhandup plant."

Jayanta Mallick

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