CEAT shares climb after acquiring Michelin’s Camso unit, expanding Sri Lanka operations, and boosting growth prospects.

• CEAT acquires Michelin’s Camso unit, including Sri Lanka plants, strengthening presence in tyres and construction tracks.
• Michelin exits compact bias tyres and construction tracks; CEAT earlier announced $225 million brand purchase agreement.
• CEAT’s Sri Lanka pact invests $171 million in export-led production; analysts hold “buy” rating with 3,933 rupees target.