Gabriel India surges on signing technical collaboration & alliance agreement with Inalfa
Gabriel India is currently trading at Rs. 168.85, up by 3.80 points or 2.30% from its previous closing of Rs. 165.05 on the BSE.
The scrip opened at Rs. 174.00 and has touched a high and low of Rs. 174.50 and Rs. 166.75 respectively. So far 36063 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 200.65 on 29-Nov-2022 and a 52 week low of Rs. 102.45 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 174.50 and Rs. 157.50 respectively. The current market cap of the company is Rs. 2406.75 crore.
The promoters holding in the company stood at 55.00%, while Institutions and Non-Institutions held 14.00% and 30.99% respectively.
Gabriel India has signed a Technical Collaboration and Alliance agreement with the $1.5 billion Dutch-based Inalfa Roof Systems (Inalfa) to manufacture sunroofs for the fast-growing Indian automotive market. The newly formed Inalfa Gabriel Sunroof Systems (IGSS), which will initially be a wholly owned subsidiary of Gabriel India (gabr.ns), will manufacture sunroofs for PVs at a new plant near Chennai that will start operations in the Q1 of CY 2024 at a projected $22 million investment.
It is intended that IGSS will be converted into a joint venture between Inalfa Roof Systems Group B.V, Netherlands, and Gabriel India, with Inalfa holding 51% shareholding. The alliance will see Gabriel India, a national leader in suspensions, enter a new segment that is fast garnering favour, especially with SUV and younger car buyers.
Gabriel India is a producer and supplier of high quality Ride Control Products for the Indian Automotive Industry participating in all segments i.e. Passenger Cars, Utility Vehicles, Commercial Vehicles and Two Wheelers.
