NEW DELHI, Sept 29: Shares of Ceat today rose by over 4 per cent after Singapore-based fund management company Amansa Holding Pte increased its stake in the tyre major.
The stock gained 4.39 per cent to Rs 1,310 on BSE.
At NSE, shares of the company went up 4.29 per cent to Rs 1,309.70.
Amansa has increased its stake in Ceat to over 5 per cent by acquiring 1.17 per cent stake through secondary market purchase.
It has acquired 4,75,000 shares of the tyre maker constituting 1.17 per cent stake, thereby taking its overall stake in the firm to 5.19 per cent, Ceat said in a BSE filing yesterday.
Before acquiring the 1.17 per cent stake on September 23, the fund management firm had 16,24,884 shares in Ceat, constituting a stake of 4.02 per cent.
Ceat manufactures radial tyres for a range of vehicles including buses, trucks, cars, bikes and scooters among others. (PTI)
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