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CEAT Approves INR12.1 Billion Investment to Expand Two-Wheeler Tyre Manufacturing Capacity; Shares Plummet 8%

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CEAT (NSE:CEATLTD, BOM:500878) has approved an investment of around 12.1 billion Indian rupees to expand two-wheeler tyre manufacturing capacity.

The company plans to add about 53,000 tyres per day by the end of fiscal 2031 through phased capacity expansion. CEAT currently has two-wheeler tyre capacity of about 80,000 tyres per day, with utilization at around 95%, according to an Indian bourse filing on Thursday.

The expansion will be funded through a mix of internal accruals and debt. The investment is aimed at addressing capacity constraints at its Nagpur plant, which is nearing full utilization.

Shares of the company fell nearly 8% in recent trade.

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