Gabriel India can move to Rs 32: SP Tulsian

Gabriel India can move to about Rs 32 in next six months, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, "Gabriel India is making the ride control products. They have 45% market share in passenger vehicles, 80% in commercial vehicles and 19% in the two wheeler segment. The market share indicates that they have best of the automakers as their customers."
He further added, "If I go by their second quarter numbers which were declared on Friday it is really very impressive with topline of Rs 300 crore plus and EPS of 90 paise. It is a debt-free company, promoter stake is very respectable and going by all these things I find this auto ancillary to be quite good and quite better and likely to perform much, much more ahead."
 "If you see in the second quarter we had little patchy season for all the auto ancillary markers because of the strikes at the Maruti and because of the slightly lower production even by the two wheeler segment, but things are likely to pick up in the H2 of FY13 and even going forward things are looking good."
"So considering the market share, profit margins and good profitability I am expecting that share looks quite good with an expected EPS of even Rs 4 for FY14, I am not taking for FY13 share is looking quite reasonable. It is ruling at a PE multiple of 6-6.5. So I hope that this share can move to about Rs 32 in next six months or so." Disclosure: I have no holdings in the above stock.