19-Aug-2026      12:28

CEAT Limited faces temporary license suspension from Maharashtra FDA for Methanol procurement

CEAT Ltd. is down 1.34% to Rs 3557.0 today, adding to recent declines that have seen the stock fall 4.46% over the last week. CEAT Limited announced that it has received an order from the Food and Drug Administration, Maharashtra, for the temporary suspension of its license to procure Methanol, effective from September 1, 2026, to September 15, 2026, due to alleged violations of Maharashtra Poisons Rules, 1972, and license conditions. The company stated that it has made alternative arrangements to procure Methanol and anticipates no material adverse impact on its financial position, operations, or overall business activities, as the issues raised in the suspension order have been addressed. Trading volume reached 34124 shares today, a decrease of 43.73% compared to the one-week average volume. CEAT Ltd posted a modest gain of 10.75% year-over-year, outperforming the 2.9% loss recorded by the NIFTY50 index.

News source: Capital Market - Live News