Add Gabriel India, target Rs 160: Kotak Securities

Kotak Securities has an add call on Gabriel India with a target price of Rs 160.

The current market price of Gabriel India is Rs 151.35.

Time period given by the brokerage is one year when Gabriel India price can reach the defined target.


View of the brokerage: We revise our FY19/FY20 estimates to factor in lower production by OEM’s and expected near term subdued demand. We also introduce FY21 estimates and roll over our target price on FY21E earnings. We maintain ADD rating on the stock with revised price target of Rs160 (earlier Rs153). We value the company at PER of 17x FY21E earnings (earlier valued at 18x FY20E earnings).