Expect double-digit growth in int'l tyre biz despite price hike: CEAT

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Tyre maker CEAT Ltd expects double-digit growth in replacement and international business this fiscal despite a high natural rubber price forcing it to hike product rates, according to its MD and CEO Arnab Banerjee.

The company, which has taken price hikes of 2-2.5 per cent in the replacement segment since May, expects another round of increase towards the end of July but is betting on robust demand across categories and turnaround of the rural market to drive growth.

We would like to maintain double-digit growth in the replacement segment and international business," Banerjee told PTI.

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Category: BusinessFinance

Markets: India

Topics: Tyre business CEAT tyres Rubber price hike CEAT international business CEAT

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-21 @ 14:30:40 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 632 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 21706025

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