CEAT Stock Hits Record High After Major Acquisition

CEAT shares soared over 10% to an all-time high after acquiring Camso’s off-highway tyres and tracks business from Michelin in a $225 million deal. This acquisition, including two manufacturing units and global rights to the Camso brand, will strengthen CEAT’s presence in high-margin segments like agriculture and construction tyres. While analysts see this as a strategic move to expand globally, concerns about rising leverage remain. CEAT’s stock has gained 41% year-to-date, outpacing broader market indices.