CEAT shares extend losses, fall 2.3% after Q1 margin miss; Nomura retains ‘Buy’; Here's why

CEAT shares fell 2.3% after Q1 results missed margin expectations.

Nomura retained a 'Buy' rating on CEAT.

CEAT implemented cumulative price hikes of 7% in replacement, 3% in OEM, and 5% in exports in Q1.