CEAT stock tanks after Q4 results

Shares of CEAT Ltd tanked almost 10 per cent on Friday’s trade after the tyremaker on Thursday reported a 22 per cent dip in net profit with ₹102 crore for the quarter that ended in March against ₹132 crore reported during the same quarter last year.

Shares of CEAT Ltd tanked almost 10 per cent on Friday’s trade after the tyremaker on Thursday reported a 22 per cent dip in net profit with ₹102 crore for the quarter that ended in March against ₹132 crore reported during the same quarter last year. 

As of 3.25 pm, the stock was down by 2.99 per cent at ₹2,544

In addition, the company has received orders of GST demand along with interest and/or penalty issued by the Superintendent, GST & Central Excise, Bhubaneswar, Odisha; and Assistant Commissioner, CSGT & CEX Division, Kanpur, Uttar Pradesh. 

The GST Department has passed an order under Section 73 of the State Goods & Service Tax Act,2017 in the State of Odisha, for the Financial Year 2018-19, disallowing input tax credit of ₹9.50 lakh on account negative balance appearing in Table 8D of GSTR9 along with applicable interest and penalty of ₹0.95 lakh. 

The GST Department’s order under Section 73 of the State Goods & Service Tax Act,2017 in the state of Uttar Pradesh, for the Financial Year 2018-19, pertains to disallowing input tax credit of ₹36.78 lakh on account of difference between GSTR2A Vs. GSTR3B and ₹0.92 lakh on account of ineligible input tax credit along with the applicable interest and penalty of ₹3.77 lakh.

Like (0)
Previous May 7, 2024 4:01 pm
Next May 7, 2024 4:02 pm

Related posts

  • The top ten largest holdings of public funds are exposed! Zhang Kun’s performance was “given a thumbs up” by CNOOC

    Source: Market Value Storm It’s rare to guess right once. Author | Market Value Fengyun Fund Research Department Editor | Xiaobai April every year is the intensive disclosure period for the first quarter reports of public funds. As of April 24, most funds in the market have disclosed their first quarter reports for 2024. Choice data shows that the size of the public fund market reached a new high in the first quarter, reaching 28.8 trillion yuan, a month-on-month increase of 5.6%. The scale of ETFs also continued to exceed the highest point, with the current scale reaching 2.4 trillion yuan, and the scale of non-monetary ETFs exceeded 2 trillion yuan. . The disclosure of the first quarter report can not only give us a macro feeling of the entire fund market, but we can also understand which stocks public funds prefer, what changes are in public positions, and the specific allocation of various industries through the content of the first quarter report. To this end, Fengyun Junte compiled the list of the top ten largest holdings of public funds…

    US stock market April 25, 2024
  • Zuckerberg: There will no longer be a shortage of AI chips, but there will be a bottleneck in power supply

    Sina Technology News Beijing time on the afternoon of May 13th, Meta co-founder and CEO Mark Zuckerberg recently said in an exclusive interview with Youtube podcast author Dwarkesh Patel that the AI ​​chip shortage that has plagued the industry for a long time has basically ended, but Energy supply issues will become the next major bottleneck

    US stock market May 13, 2024
  • Techno Electric & Engineering secures new orders for ₹4,063 crore; stock surges 5%

    Techno Electric & Engineering has bagged new orders for ₹4,063 crore. The stock surged 5.22 per cent on the NSE as of 1.21 pm to trade at ₹1,020.

    US stock market April 29, 2024
  • Xinhongtai (603016.SH): Net profit in the first quarter was 16.217 million yuan, a year-on-year increase of 9.58%

    Gelonghui April 25 | Xinhongtai (603016.SH) announced its first quarter report, with operating income of 140 million yuan, a year-on-year decrease of 2.43%, net profit of 16.217 million yuan, a year-on-year increase of 9.58%, and non-net profit of 14.69 million yuan. , a year-on-year increase of 11.11%, and basic earnings per share of 0.11 yuan.

    US stock market April 25, 2024
  • Client Associates achieves first close of maiden Cat-II Alternate Fund at ₹ 300 crore

    Client Associates, a wealth management firm and the country’s largest multi-office service provider, has forayed into asset management with the first close of its maiden fund —Client Associates Alternate Fund (CAAF), mopping up as much as ₹300 crore.

    US stock market May 8, 2024
  • Nordisk fell 1.1% in premarket as the U.S. Senate launches investigation into Novo Nordisk\’s GLP-1 drug pricing

    Gelonghui, April 25 | Nord Nordisk (NVO.US) U.S. stocks fell 1.1% before the market opened, to US$124.74. On the news, U.S. Senate Health, Education, Labor and Pensions Committee Chairman Bernie Sanders said on Wednesday that the committee is launching an investigation into Novo Nordisk\’s pricing. In a letter sent to Novo Nordisk\’s CEO on Wednesday, Sanders asked Novo Nordisk to provide \”internal communications about the U.S. pricing of the drug\” and explain why Ozempic and Wegovy have the same ingredient (semaglutide). ), Wegovy’s pricing is obviously more expensive. Sanders stressed that the price of GLP-1 drugs \”must come down\” so that consumers can afford them and the government doesn\’t go bankrupt by reimbursing them.

    US stock market April 25, 2024