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Buy Gabriel India; target of Rs 141: Sharekhan

Sharekhan is bullish on Gabriel India has recommended buy rating on the stock with a target price of Rs 141 in its research report dated June 15, 2022.

June 16, 2022 / 04:25 PM IST
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

 
 
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Sharekhan's research report on Gabriel India

EV remains the key growth driver for Gabriel, as its key clients are getting geared up for EV product development and new product launches. Gabriel’s dominant position in suspension components to remain intact, led by its strong relationship with OEMs and brand recall in aftermarket. Gabriel’s earnings are set to report a 32% CAGR over FY22E-FY24E, driven by a 15.5% revenue CAGR and a 160-bps expansion in EBITDA margin to 7.9% in FY24E from 6.3% in FY22.


Outlook

We maintain Buy on Gabriel India Limited’s (Gabriel’s) with an unchanged PT of Rs. 141, factoring in recovery in automotive demand, its preparedness to benefit from the adoption of EVs in India, and attractive valuations.

More Info

At 16:01 hrs Gabriel India was quoting at Rs 115.80, down Rs 1.25, or 1.07 percent.

It has touched an intraday high of Rs 121.05 and an intraday low of Rs 112.00.

It was trading with volumes of 66,145 shares, compared to its thirty day average of 19,685 shares, an increase of 236.02 percent.

In the previous trading session, the share closed up 0.82 percent or Rs 0.95 at Rs 117.05.

The share touched its 52-week high Rs 168.00 and 52-week low Rs 102.45 on 13 October, 2021 and 12 May, 2022, respectively.

Currently, it is trading 31.07 percent below its 52-week high and 13.03 percent above its 52-week low.

Market capitalisation stands at Rs 1,663.40 crore.

For all recommendations report, click here

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Broker Research
first published: Jun 16, 2022 04:25 pm

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