CEAT shares fall up to 9% after higher costs hit Q1 margins

CEAT shares fell up to 9% on Friday, July 17, after higher costs hit Q1 margins. The company’s net profit plunged 96% to ₹4 crore. Arnab Banerjee said, "The continuing West Asia crisis led to significant raw material cost inflation." Despite this, the firm plans to expand its Nagpur plant capacity.