Latest news with #TBR
Business Upturn
2 days ago
- Business
- Business Upturn
CLSA sees margin upcycle for Ceat, maintains ‘Outperform' call with Rs 3,933 target price
By Markets Desk Published on June 4, 2025, 07:59 IST CLSA has reiterated its Outperform rating on Ceat with a target price of ₹3,933, citing positive near-term drivers including margin revival and the strategic Camso acquisition. The brokerage said that Camso integration and an overall margin revival are key focus areas for the company in the near term. Ceat also expects to gain market share in the high-value TBR (Truck & Bus Radial) replacement market. The Camso deal, now completed, carries a $1.2 billion revenue potential over the next three years, according to CLSA. In addition, Ceat is currently in a margin upcycle, benefiting from the softening of raw material prices, which should contribute 200–300 basis points of margin expansion in FY26. CLSA believes the combination of a stronger product mix, synergy gains from Camso, and improving margins positions Ceat well for sustained outperformance in the coming quarters. Disclaimer: The views and target prices mentioned in this article are as stated by CLSA. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions. Markets Desk at
Yahoo
3 days ago
- Business
- Yahoo
Hankook Tire Commits Support to Boys & Girls Club of Middle Tennessee
$20,000 donation will support new club set to open in Clarksville, Tenn. NASHVILLE, Tenn., June 3, 2025 /PRNewswire/ -- Leading global tire manufacturer Hankook Tire has donated $20,000 to support the upcoming opening of the Boys and Girls Club of Middle Tennessee's (BGCMT) newest location in Clarksville, Tenn. At an event held on May 31, officials from Hankook Tire and BGCMT – Clarksville Club came together to officially announce the tiremaker's support of the club's initiatives as they look towards the opening of their Clarksville location. With this sponsorship, Hankook Tire will support BGCMT's plans to bring its services to the greater Clarksville area. BGCMT announced plans to open a new club in the area in June 2024, following a thorough assessment which identified a strong need for the club's presence to bring positive enrichment and activities to the city's youth. As Clarksville's population continues to grow rapidly – in part due to economic investments from companies such as Hankook – BGCMT will offer dedicated, curriculum-based programs to help Club Members achieve success in priority areas including academics, healthy lifestyles, and good character and leadership. "Clarksville is home to our North America manufacturing operation, and we are dedicated to supporting the community where so many of us live and work," said Rob Williams, President of Hankook Tire America Corp. "We have seen the great work that the Boys and Girls Club of Middle Tennessee has done in the region, and are certain that the Club's presence in Clarksville will bring important academic enrichment and community to many of our own employees' families. We are excited and honored to be able to support that mission." Hankook opened its first U.S. manufacturing plant in Clarksville in October 2017. Since then, the tiremaker has become an integral part of the Clarksville community. Its $800 million facility in Clarksville currently employs more than 1,000 employees and produces 5 million tires each year. The Tennessee Plant is currently undergoing two expansions simultaneously to expand production of both its Passenger Car and Light Truck (PCLT) and Truck and Bus Radial (TBR) lines. Upon completion of the expansion plan, the facility will achieve an expected annual production capacity of 10 million PCLT and 1 million TBR tires. This expansion will not only establish the Tennessee Plant as one of the largest in North America, but also bring additional jobs to the region and establish stronger relationships with the Clarksville community. Hankook presented the check to BGCMT – Clarksville Club during its Summer Festival community event held on May 31. The event brought together local vendors, entertainment and attractions for a family-friendly fundraiser for the Clarksville Club. In addition to the donation, Hankook served as a corporate sponsor for the Summer Festival. "We are incredibly grateful and excited to have Hankook Tire as a partner. Their generous donation demonstrates a profound belief in our mission and a commitment to the future of Clarksville's youth," said Deidre Ward, Boys & Girls Clubs of Middle Tennessee Board Member and Clarksville Committee Chair. "We have a significant need for safe, affordable, and enriching environments for the youth in our community. Hankook's investment will directly help us establish a club where every child can reach their full potential. We are thrilled to partner with a company that not only provides economic growth to our city but also deeply invests in the well-being and success of our youngest citizens." The Boys & Girls Clubs of Middle Tennessee – Clarksville Club is actively working in collaboration with the Clarksville-Montgomery County School System and anticipates operating within the local school facilities. About Hankook Tire America Tire America Corp. is a growing leader in the U.S. tire market, leveraging investments in technology, manufacturing and marketing to deliver high-quality, reliable products that are safer for consumers and the environment. Headquartered in Nashville, Tenn., Hankook Tire America Corp. markets and distributes a complete line of high-performance and ultra-high-performance passenger tires, light truck and SUV tires as well as medium truck and bus tires in the United States. Hankook Tire America Corp. is a subsidiary of Hankook Tire & Technology Co., Ltd., a Forbes Global 2000 company headquartered in Seoul, Korea. View original content to download multimedia: SOURCE Hankook Tire America Corp.
News18
3 days ago
- Business
- News18
Transfer News: Manchester United Eye Udinese Defender Oumar Solet
Last Updated: The Red Devils could rejuvenate their squad with the signing of Oumar Solet, having already got Matheus Cunha on board in the summer transfer window. Udinese Calcio centre-back Oumar Solet could follow Matheus Cunha's footsteps and join Manchester United on a £34 Million Deal. According to a report by TBR, the Red Devils could land Solet as their next signing after the footballer's agent, Claudio Pasqualin, indicated the 24-year-old is planning a move from his Serie A club. Pasqualin noted that Solet may leave Udinese following talks between the two clubs. 'I would say yes, even if they (the owners) have never sold in a hurry. Haste, in this case, could make potential buyers procrastinate, influencing the negotiations, so I believe that the objective (a sale) will be achieved, even if not easily and in a short time," the agent said as quoted by TBR. In his young career, 25-year-old Solet has notched up a solitary goal and made two assists over 19 appearances across competitions but his main point of impact has been the 92 recoveries and 20 winning duels he has made in his Serie A term. The TBR report claims United could firm up plans to sign the youngster for a £34 Million Deal, which fits the club's budget constraints but also their philosophy of buying value for money talents. Manager Ruben Amorim is keen to replenish United's front line after none of their players managed to score 20 times in the Premier League's goalscoring chart. United struggled in the Premier League 2024/25 season, finishing 15th with 42 points before going on to also lose the Europa League final to Tottenham. Having initially set their eyes on Ipswich Town striker Liam Delap, who is now set for a move to Chelsea, United signed Matheus Cunha. The Brazilian footballer got on board last week after signing a five-year deal, where he will be earning £200,000 per week. Cunha's move from Wolverhampton Wanderers could pave the way for him to become United's second-highest earner if Bruno Fernandes leaves the club for Al Hilal. United lost out on £100 million windfall by losing the Europa League final but Sir Jim Ratcliffe's ongoing cutbacks may leave the club room to manoeuvre, especially if Fernandes' Al-Hilal move materialises. The skipper's departure could also allow United to sign Cameron and Brentford star Bryan Mbeumo after David Ornstein's revelation that he wishes to join the Red Devils. First Published:
Time of India
4 days ago
- Automotive
- Time of India
Continental Tires exits truck tyres biz; to focus on passenger segment
In a major strategic shift in India, Continental Tires has announced that it will exit its its Truck and Bus Radial (TBR) tyre business by June 2025 and will focus solely on Passenger Car and Light Truck (PLT) tyre segment. The TBR segment faces stiff competition and is highly price sensitivite. This realignment includes ceasing TBR manufacturing at its Modipuram plant in Meerut, Uttar Pradesh, to ensure the long-term viability of its operations and align with future growth opportunities in the PLT tyre premium segment . The company has recently opened an IT Hub in Bengaluru. A boost to local products The Faridabad-headquartered company will focus on further developing its local product portfolio and manufacturing footprint to align with future growth opportunities in the PLT tyre premium segment. The decision follows a comprehensive business review, which was aimed at safeguarding and strengthening the company's competitiveness in the Asia-Pacific region. The company serves both replacement and original equipment customers. Support for employees In the restructuring plan, the company has chalked out a plan to provide assistance to its affected employees. This support includes assistance and support, such as career counselling, and potential employment opportunities inside and outside of Continental. In addition, a voluntary retirement and separation scheme will be offered to the employees.
News18
26-05-2025
- Automotive
- News18
Balkrishna Industries Crashes 10% On Price Target Cuts, Expansion Concerns; Key Points
Last Updated: Shares of Balkrishna Industries Ltd plunged over 10% following a wave of price target downgrades by brokerages; Check latest target price Balkrishna Industries Share Price Today: Shares of Balkrishna Industries Ltd plunged over 10% in Monday's trade following a wave of price target downgrades by brokerages. The declines came amid continued concerns over demand uncertainty and the company's expansion into new tyre segments — particularly the Premium Passenger Car Radial (PCR) and Truck and Bus Radial (TBR) categories — which analysts believe could weigh on return on equity (ROE) in the short term. The stock hit an intraday low of Rs 2,385, down 10.33%, and has now dropped 15.82% year-to-date in 2025, underperforming the BSE Auto index, which is up 2.12% in the same period. In terms of financial performance, Balkrishna's Q4FY25 revenue beat Bloomberg estimates by 4%, while EBITDA margin stood at 24.8%, just shy of the consensus 25% estimate. EBITDA remained flat year-on-year, slightly above expectations. According to Nomura India, Q4 volumes were 82,000 tonnes, unchanged year-on-year, while average selling prices (ASPs) rose 2.7% quarter-on-quarter. However, the bottom line disappointed due to lower other income and higher interest expenses, resulting in a 25% year-on-year decline in PAT. Nomura downgraded the stock from 'Buy' to 'Neutral', citing concerns over the potential ROE dilution from its diversification into new tyre segments. It revised the target price upward to Rs 3,242 from Rs 2,644 earlier, factoring in the medium-term potential but also noting execution risks. Motilal Oswal Financial Services (MOFSL) also flagged ongoing demand headwinds in Balkrishna's key export markets. The brokerage cut its FY26 and FY27 earnings estimates by 8% each, and expressed skepticism over the company's entry into the niche PCR and TBR segments. 'Whether Balkrishna can gain meaningful market share in these new categories without significantly diluting margins and returns remains a key uncertainty," MOFSL noted. While the stock's valuations are no longer demanding, future re-rating would hinge on execution success, it said. Meanwhile, Nirmal Bang Institutional Equities maintained a 'Hold' rating on the stock, trimming its target price to Rs 2,645 from Rs 2,718. The brokerage said it continues to project a 9% volume CAGR over FY25–FY27, with margins improving to 26.2% by FY27. Despite near-term concerns, it believes Balkrishna remains a strong franchise, and its low-cost operations and geographic marketing efforts could drive superior long-term margins. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published:
