From Rs 666 to Rs 1,115! Gabriel India share price target upped by Elara; stock jumps 88% in 7 days
Elara Securities has upped its target price on Gabriel India Ltd to Rs 1,115, a 67 per cent surge over its previous target of Rs 666, as it said the auto ancillary company is transitioning to a multi-product company. The fresh target comes following the composite scheme of arrangement, involving Gabriel India, Asia Investments Pvt Ltd (AIPL), and Anchemco India Pvt Ltd (Anchemco). Gabriel India shares rose 20 per cent today.
Emkay said the scheme would result into vesting AIPL’s automotive business undertaking, comprising Anchemco’s business and investments in Dana Anand India, Henkel ANAND India and ANAND CY Myutec Automotive into Gabriel India.
The deal is seen EPS-accretive by 41 per cent on FY25 financials, which is a…
