Elara identified four factors critical for auto ancillary companies to outperform OEMs: product expansion, segment expansion, geographic expansion and inorganic initiatives
The buying interest on the counter came after the National Stock Exchange (NSE) and BSE issued a 'no objection' letter to the company for the merger with and into Asia Investments
At 02:30 PM, the BSE Smallcap index, the top gainer among broader indices, was up 0.66 per cent, as compared to a 0.11 per cent decline in the BSE Sensex
Anand Rathi Share and Stock Brokers recommend a 'Buy' rating on Gabriel India with a target price of ₹1,400
In the past two trading days, the Gabriel stock price has zoomed 44 per cent after the Board of Directors of the auto ancillary company approved a Composite Scheme of Arrangement.
Gabriel board has approved a composite scheme of arrangement which will accelerate profitable growth with better margins, creating substantial shareholder value through EPS accretion and higher RoE.