Aug 26, 2010, 07.34 PM | Source: Moneycontrol.com
Hem Securities is bullish on Gabriel India and has recommended buy rating with a target of Rs 80, in its August 26, 2010 research report.
, Hem Securities |
“Gabriel India has come out with whopping numbers for the quarter ending June 2010. Net sales jumped about 38% from a year ago quarter to stay at Rs 2126.80 million translating operating profits even higher at Rs 197.30 million which witnessed a sharp rise of around 42% as compared to the like period last year while on a sequential basis it ascended about 24%. Net profit of the company surged 36.19% from Rs 63 million clocked in Q1FY10 to Rs 85.80 million in Q1FY11. Margins of the company were at comfortable levels. EPS for the quarter stood at Rs 1.19 climbing sharply from Rs 0.88 in Q1FY10. With strong market presence in auto component industry, backed by strong operating performance, the outlook for Gabriel India looks promising.”
“Presently, the stock is trading at Rs 63 which is at 18.87 times to its earnings of FY10 of Rs 3.35. Further the stock is 3.04 times to its book value of Rs 20.78. Since the stock offers good investment opportunity, we initiate a ‘BUY’ signal on the stock with a target price of Rs 80 expecting an appreciation of about 27% from the current level of Rs 63 with the short term investment horizon,” says Hem Securities research report.
Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management.Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
To read the full report click here
Gabriel India Ltd has informed BSE that the Board
Gabriel India Ltd has informed BSE that a meeting
Sushil Finance is bullish on Pratibha Industries a
KRChoksey is bullish on Suzlon Energy and has reco
FinQuest Securities is bullish on Wockhardt and ha
Arihant capital markets is bullish on Power Financ
Arihant capital markets is bullish on Adhunik Meta
SPA Research is bullish on Infinite Computer Solut