Stock To Buy: Midcap Tyre Stock Rallied 2.55%, Motilal Oswal Placed "Buy", 
Sees 32% Returns

Stock To Buy: Midcap Tyre Stock Rallied 2 .55%, Motilal Oswal Placed " Buy", Sees 32% Returns { "selector": ".imagebox-wrapper", "duration": "5000ms", "easing": "ease-out", "fill": "forwards", "keyframes": { "transform": ["scale(1)", "scale(1.15)"] } }

Motilal Oswal has placed a " Buy" on the stock of CEAT Ltd with a target price of Rs 1,860 apiece.

Given the target price, the stock is likely to give a healthy return of up to 32% if purchased at the current market price.

According to Motilal Oswal R&D capabilities to drive growth in Exports and EVs.

The last traded share price of CEAT is Rs 1,418.90 apiece. Stock rallied 2 .55% compared to its previous close of Rs 1,383.60 apiece. { "selector": ".imagebox-wrapper", "duration": "5000ms", "easing": "ease-out", "fill": "forwards", "keyframes": { "transform": ["scale(1)", "scale(1.15)"] } }

The stock's 52 week low is Rs 890 apiece and 52 week high is Rs 1,981 apiece.

It gave 3 .72% negative return in 1 week, 7 .14% in 1 month and 23 .57% in 3 months, respectively.

However, it has given a positive return of 45 .22% in 3 years and 38 .94% in 3 years, respectively.

Buy for a target price of Rs 1,860 apiece

Cyclical recovery in both OEMs and replacement will enable faster absorption of new capacities and drive the benefit of operating leverage. { "selector": ".imagebox-wrapper", "duration": "5000ms", "easing": "ease-out", "fill": "forwards", "keyframes": { "transform": ["scale(1)", "scale(1.15)"] } }

This, coupled with softening RM prices, would help a partial recovery in margins in FY 23 with full recovery expected in FY 24.

The company continues to focus on key strategic areas such as i) PV/ 2 W/ OHT ( to help a long-term growth catalyst for the company.

The stock has been picked from the brokerage report of Motilal Oswal. { "selector": ".imagebox-wrapper", "duration": "4656ms", "easing": "ease-out", "fill": "forwards", "keyframes": { "transform": ["scale(1)", "scale(1.13968)"] } }

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By Shubham Kumar Goodreturns source: goodreturns.in Dailyhunt View more