ICICI Direct has buy call on

with a target price of Rs 155. The current market price of Gabriel India Ltd. is Rs 144.65.

Time period given by analyst is 14 days 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 2089.30 Crore) operating in Auto Ancillaries sector.

For the quarter ended 30-06-2021, the company reported a Standalone Total Income of Rs 456.27 Crore, down -22.27 % from last quarter Total Income of Rs 586.97 Crore and up 264.00 % from last year same quarter Total Income of Rs 125.35 Crore. Company reported net profit after tax of Rs 12.00 Crore in latest quarter.

Investment Rationale
The share price of Gabriel India has rebounded after taking support at Multiyear breakout area around Rs 135 coinciding with 61.8%retracement of June – August up move signaling resumption of uptrend and fresh entry opportunity.

Going ahead the brokerage expects it to endure its current up move and head towards Rs 155 levels as it is the 80% retracement of recent breather (Rs 162—133).

(Disclaimer: Views and recommendations given in this section are the analysts own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.

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