Gabriel India | HDFC Asset Management Company acquired 2.02 percent stake in the company via open market transaction on September 14, increasing shareholding to 7.04 percent from 5.02 percent earlier.
PRO Only Highlights
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
- Quarterly performance largely backed by improved realisations
- Medium-term triggers China plus and protectionist measures for tyre industry
- Valuations not inexpensive; but improved medium-term outlook
Gabriel India (CMP: Rs 142; M Cap: Rs 2,040 crore) has reported a stellar set of numbers in Q2FY22, driven by a sharp rebound in demand, post the second wave of COVID-19, and the cost-optimisation efforts by the company. Exports also helped the company in reporting a strong set of numbers. What continues to boost our confidence in the company is the sharp rebound in demand across segments and its leadership position. Further, its valuation at 18.2 times FY23 projected...