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Buy Gabriel India; target of Rs 138: Anand Rathi

Anand Rathi is bullish on Gabriel India has recommended buy rating on the stock with a target price of Rs 138 in its research report dated May 25, 2022.

May 30, 2022 / 09:50 PM IST
 
 
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Anand Rathi's research report on Gabriel India


For Gabriel India, consistent improvement in market share with key customers and large orders from the market leader in electric 2Ws were the highlights of the quarter. It continues to gain market share in PVs on launches by OEMs, while new programs expected by H2 FY23 augur well for long term growth. With good recovery anticipated in subsequent months, we expect automobile volumes to pick up considerably.



Outlook


Accordingly, we upgrade our rating to a Buy at a TP of Rs138 (14 x FY24e).

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For all recommendations report, click here


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first published: May 30, 2022 09:50 pm
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