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Home >Companies >News >Westbridge Capital sells 2.07% of equity of CEAT worth 73 crore
CEAT Ltd reported a consolidated loss of  ₹34.8 crore as against a net profit of  ₹82.6 crore in the corresponding quarter last year
CEAT Ltd reported a consolidated loss of 34.8 crore as against a net profit of 82.6 crore in the corresponding quarter last year

Westbridge Capital sells 2.07% of equity of CEAT worth 73 crore

Jwalamukhi Investment Holdings sold 8.38 lakh equity shares in the company at an average price of 871.26 per share on the stock exchanges, the bulk deals data showed

Private Equity firm Westbridge Capital through its investment arm, Jwalamukhi Investment Holdings, offloaded 8.38 lakh shares or 2.07% equity stake in CEAT Ltd for 73 crore, via bulk deals.

Jwalamukhi Investment Holdings sold 8.38 lakh equity shares in the company at an average price of 871.26 per share on the stock exchanges, the bulk deals data showed.

According to the latest shareholding, Jwalamukhi Investment Holdings held 5.77% equity stake in the company.

CEAT Ltd reported a consolidated loss of 34.8 crore as against a net profit of 82.6 crore in the corresponding quarter last year. Consolidated revenue fell 36% to 1,120.16 crore, as against 1,752.10 crore last year.

From the beginning of the year, CEAT Ltd lost 12% against a loss of 7% in the benchmark index, Sensex. From March lows, the stock gained 39% while Sensex was up 48%.

Shares of CEAT Ltd lost 0.70% on Friday on BSE to close at 868.10, while the benchmark index, Sensex gained 0.56% to close at 38,434.72 points.

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