Buy Gabriel India, target price Rs 148: ICICI Direct

ICICI Direct has buy call on with a target price of Rs 148. The current market price of Gabriel India Ltd. is Rs 126.95. Time period given by analyst is three months when Gabriel India Ltd. price can reach defined target.

Gabriel India Ltd., incorporated in the year 1961, is a Small Cap company (having a market cap of Rs 1824.28 Crore) operating in Auto Ancillaries sector.

Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 586.97 Crore, up 8.15 % from last quarter Total Income of Rs 542.72 Crore and up 37.21 % from last year same quarter Total Income of Rs 427.80 Crore. Company reported net profit after tax of Rs 27.69 Crore in latest quarter.
Investment Rationale
The stock after three years of corrective decline from the all-time high of September 2017 (Rs 222) has recently registered a resolute breakout above the long term falling supply line joining the highs of the last three years signalling a structural turnaround and offers a fresh entry opportunity

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