Sharekhan Upbeat On This Small Cap Auto Stock, Buy To Get Dividend, Good Gains

Leading Auto Ancillaries sector stock, Gabriel India Ltd fixed record date for interim dividend on Thursday. The company has fixed November 18, 2022 as the record date. The small cap stock has a market capitalisation of Rs 2304 crore. The company was incorporated in 1961.

Meanwhile, leading brokerage firm Sharekhan in its 1-month back report remained bullish on the stock and assigned buy call with a target price of Rs 197 apiece. If you buy the stock at the current market price of Rs 160 apiece, you will receive a potential return of 23%.

Dividend Announcement: Today the board of directors of the company held a meeting and stated in the regulatory filing, "We would like to inform you that Board of Directors at their Meeting held on Thursday, November 10, 2022, have declared Interim Dividend of Re. 0.90 pershare having face value of Re.1 each.

The record date for the payment of interim dividend would be Friday, November 18, 2022. Dividend shall be paid, or the dividend warrant shall be dispatched to the shareholders on or before Friday, December 09, 2022."

Stock Outlook: The current market price of the stock is Rs 160 apiece. The stock gained over 1% intraday. The stock's 52-week high is Rs 175 apiece and 52-week low is Rs 102 apiece, respectively.

Gabriel India Return: The stock has fallen 18% in last 5-years, gained 36% in last 3-years, and 3% n last 1 year.

About Gabriel India: The company is engaged in the manufacturing of McPherson struts, shock absorbers, bimetal strips, bimetal bearings and front forks, among others. Gabriel India's products are sold to manufacturers of two wheeler scooters, motorcycles, cars, light commercial vehicles and trucks.

The stock has been picked from the brokerage report of Sharekhan. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.