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ICICI Direct forecasts a 25% increase for Gabriel India, setting a stock target of 440 Rupees



Gabriel India (GABIND), a leading shock absorber manufacturer, has recently showcased a robust performance in Q3FY24, signaling promising growth avenues for investors. With a diversified product range spanning two-wheelers (2-W), three-wheelers (3-W), passenger vehicles (PV), commercial vehicles (CV), railways, and the aftermarket segment, Gabriel India stands on solid ground, prepared for future expansion. This blog post delves into the company’s latest financial achievements, strategic partnerships, and what lies ahead for investors.

Q3FY24 Financial Highlights for Gabriel India

Gabriel India reported a net sale of Rs 814 crore in Q3FY24, marking a 14% increase year-on-year (YoY). EBITDA stood at Rs 70 crore, with EBITDA margins slightly up by 10 basis points quarter-on-quarter (QoQ) to 8.6%. The profit after tax (PAT) saw a remarkable 48% YoY increase, reaching Rs 43 crores. Strategic collaborations with TVS Motors, Bajaj Auto, Tata Motors, and Maruti Suzuki India Limited (MSIL) have positioned Gabriel India for industry-leading growth.

Strategic Ventures and Market Expansion

Gabriel India’s move into the passenger vehicle and specifically the SUV segment, where it currently holds approximately 35% of the domestic market share, exemplifies its strategic focus. The company’s joint venture with Inalfa, the world’s second-largest sunroof manufacturer, marks its foray into premium segment offerings, further diversifying its product portfolio.

Investment Thesis

Gabriel India’s strategic emphasis on the PV-SUV space and its venture into the premium sunroof market are significant positives. With a cash-rich balance sheet, boasting a net cash surplus of ~₹300 crore as of FY23, and a history of healthy double-digit return ratios, Gabriel India presents a compelling case for investors. The company’s vision to rank among the top 5 global shock absorber players by 2025, coupled with its EV-agnostic product profile, underlines its long-term growth potential.

Financial Outlook

Gabriel India is poised for a robust financial trajectory, with an expected sales/PAT CAGR of 10%/24% over FY23-26E. The company’s focus on capital efficiency and a healthy balance sheet promises a RoCE of ~22% by FY26E. With the automotive industry’s landscape evolving rapidly, Gabriel India’s strategic investments and diversified product portfolio set the stage for sustained growth.

Market Positioning and Rating

ICICI Securities assigns a “BUY” rating to Gabriel India, with a target price of Rs 440, reflecting a potential 20% increase. Moreover, this optimistic outlook is based on the company’s industry-leading growth prospects, double-digit margin aspirations, and strategic positioning in the EV and PV-SUV spaces.


Gabriel India’s Q3FY24 performance and strategic ventures highlight its readiness to capitalize on the automotive sector’s evolving dynamics. For investors seeking opportunities within the automotive ancillary space, Gabriel India offers a blend of growth, innovation, and financial robustness. As the company continues to expand its footprint and diversify its offerings, it remains a noteworthy candidate for investment portfolios.

Engage with us in the comments section below. Share your views on Gabriel India’s strategic direction, its impact on the automotive ancillary market, and its potential as an investment opportunity.

Also read the full report by ICICI Direct here.

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Revolt Motors from Rattan India Enterprise is Electrifying India’s Urban Mobility with 15 New Dealerships



Revolt Motors, a popular brand of electric motorcycles in India and a proud subsidiary of RattanIndia Enterprises Limited, is expanding in the urban mobility landscape. With the launch of fifteen new dealerships across the nation, Revolt Motors’ network now boasts an impressive tally of 115, solidifying its commitment to lead the electric revolution. This strategic expansion into states like Bihar, Goa, Gujarat, Jharkhand, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Uttar Pradesh, and West Bengal marks a significant milestone in Revolt Motors’ journey towards sustainable urban mobility. Coupled with the increasing trend of EV vehicles, we feel this will definitely improve the sales and stock price of the company.

The Vision of Expansion:

Mrs. Anjali Rattan, the dynamic Business Chairperson of RattanIndia Enterprises Limited, shared her enthusiasm about this massive growth. “This expansion fills us with immense pride and propels our vision for a greener future forward. We’re thrilled about the new avenues these dealerships open up,” she stated. Further she emphasized the brand’s commitment to revolutionising urban mobility across the Indian subcontinent.

Ultramodern Dealerships for the Modern Rider:

Besides expanding its footprint Revolt Motors is also redefining the customer experience. The new dealerships are designed as modern havens where biking enthusiasts can immerse themselves in the world of electric motorcycles. Moreover, each location offers a comprehensive suite of services — from sales to after-sales support, genuine spare parts to technical assistance — ensuring that every visitor leaves as a well-informed customer, possibly even as a new member of the Revolt family.

Test Rides and Tech Talks:

What sets these dealerships apart is the opportunity for potential customers to engage directly with Revolt’s cutting-edge technology. Test rides offer firsthand experiences of the exhilarating performance, while in-depth discussions provide insights into the motorcycles’ advanced features and the AI technology that powers them. It’s an invitation to explore, question, and connect with the future of urban mobility.

Should you buy Rattan India Enterprise stocks?

The stock price of Rattan India Enterprise has more than doubled over the past year, alongside a significant increase in their profits. The company, active in drones, electric bikes, and other EV spaces, has captured the interest of the nation’s youth with its Revolt bikes. This popularity positions them well for further market share gains in the future. While we cannot issue a buy or sell recommendation, we believe retail players should definitely pay attention to this company.

Revolt Intellicorp: Leading the Charge:

Since its inception in 2017, Revolt Intellicorp has been at the forefront of India’s electric vehicle revolution. The introduction of the country’s first AI-enabled motorcycle was just the beginning. Today, Revolt continues to blend innovation with performance, offering not just motorcycles but a comprehensive riding experience that includes a range of genuine parts and accessories.

Since we are talking about EV, checkout this blog on Tesla entry in India this year.

RattanIndia Enterprises: Innovating for a New India:

RattanIndia Enterprises Limited, the powerhouse behind Revolt Motors, is reimagining the landscape of new-age businesses. From electric mobility and e-commerce to fashion, fintech, and drones, RattanIndia is on a mission to make a significant impact on the lives of millions. Each venture is a step towards a future where technology and sustainability converge to create a smarter, greener world.

Join the Revolt:
As Revolt Motors continues to expand its horizon, the invitation is open to all to join in reshaping the future of urban mobility. To find out more about Revolt Motors, explore their innovative electric motorcycles, or locate the nearest dealership, visit or reach out at

The expansion of Revolt Motors is more than just an increase in numbers; it’s a testament to the growing acceptance and enthusiasm for electric vehicles in India. With each new dealership, Revolt Motors inches closer to a future where every ride is green, efficient, and electrifying. Let’s ride into the future, together. Also follow Tradealone for more such EV stocks related news.

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Ashok Leyland Embarks on Clean Mobility Journey with New Greenfield Plant in Uttar Pradesh



Ashok Leyland, the esteemed flagship of the Hinduja Group and a frontrunner in India’s commercial vehicle manufacturing, has taken a significant leap towards sustainable mobility. On February 20, 2024, in Lucknow, Uttar Pradesh, the company celebrated the groundbreaking of a new integrated commercial vehicle plant. This facility is not just another addition to its manufacturing prowess but a dedicated move towards green mobility, heralding a new era for the commercial vehicle industry in India.

The Foundation of Sustainability

The ceremonial laying of the foundation stone was honored by the presence of Shri Yogi Adityanath, the Hon’ble Chief Minister of Uttar Pradesh. This momentous event also saw the attendance of key figures such as Shri Suresh Khanna, Minister of Finance & Parliamentary Affairs, Govt of Uttar Pradesh, Shri Nand Gopal Gupta, Minister for Industrial Development, Export Promotion, NRI, and Investment Promotion, along with senior members of the Hinduja family, and a host of dignitaries, dealers, customers, and suppliers of Ashok Leyland.

A Green Future in Manufacturing

Spanning over 70 acres, the Kanpur Road, Lucknow facility is set to become Ashok Leyland’s most modern and environmentally friendly factory globally. It aims to set world-class manufacturing standards, focusing primarily on the production of electric buses. This facility will also be capable of manufacturing vehicles powered by other alternative and emerging fuels, signifying a broad spectrum approach towards clean mobility.

Leadership Insights

Dheeraj Hinduja, Executive Chairman, Ashok Leyland, emphasized the plant’s role in shaping the future of sustainable mobility in India. He expressed confidence in the facility’s contribution towards employment generation and the advancement of green mobility solutions. The company’s commitment to innovation and achieving Net Zero emissions goals was also highlighted as a key driving force behind this initiative.

Shenu Agarwal, MD & CEO of Ashok Leyland, pointed out the facility’s pivotal role in addressing the growing demand for electric vehicles and its significance in the holistic development of the region. The focus on electric trucks and buses aligns with the evolving landscape of sustainable transportation, marking a step forward in building a green mobility future.

Expanding Capacities for a Sustainable Future

Initially, the plant will have the capacity to produce 2,500 vehicles per year, with plans to double this output to 5,000 vehicles annually over the next decade. This expansion is in anticipation of the increasing demand for electric and other alternative fuel vehicles.

Uttar Pradesh is already leading the charge in electric mobility, boasting the highest number of registered Electric Vehicles (EVs) in India. Ashok Leyland’s new plant further reinforces the state’s commitment to eco-friendly transportation solutions.
Recently Ashok Leyland posted great number in the Q3 results. Also, we see a continues appreciation on the stock price as well.

A Strategic Step for Ashok Leyland

This greenfield facility represents a strategic initiative by Ashok Leyland, positioning the company at the forefront of the green mobility revolution in the state and beyond. With this being Ashok Leyland’s seventh vehicle plant in the country. Therefore, the company continues to reinforce its commitment to innovation, quality, and sustainability.

About Ashok Leyland

As a pioneer in the commercial vehicle space, Ashok Leyland stands as the 2nd largest manufacturer of commercial vehicles in India and holds prominent positions globally in the bus and truck manufacturing sectors. With a rich legacy spanning 75 years and a presence in over 50 countries, Ashok Leyland remains dedicated to driving progress through continuous innovation and contributing to India’s growth story. Moreover, we feel this move will positively reflect on the stock price movement for Ashok Leyland tomorrow.

This new venture in Uttar Pradesh is a testament to Ashok Leyland’s enduring vision: “Koi Manzil Door Nahin,” echoing the belief that no destination is too distant when pursued with resilience and innovation.

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ICICI Direct suggests a target of 1000 Rupees for Tata Motors stock




Tata Motors is currently trading at 945 rupees with a gain of 12 times from the covid lows. Such a remarkable growth the stock has delivered. Post the recent results, ICICI Direct issued a hold call. Let’s delve into the company’s latest milestones, future strategies, and their implications for investors and the automotive sector.

Stellar Q3FY24 Performance Unpacked

Tata Motors has impressively reported a consolidated topline of Rs 1.16 lakh crore in Q3FY24, marking a 25% growth year-on-year. This growth stems from strategic margin improvements, with EBITDA margins reaching 16.3%, an 80 basis point increase quarter-on-quarter. Highlighting the quarter’s success, Tata Motors achieved a record PAT of Rs 7,025 crore, aided by a favorable tax rate.

JLR on the Path to Unprecedented Profitability

Jaguar Land Rover (JLR), Tata Motors’ luxury arm, is steering towards record profitability. Through targeted product innovation and cost-efficiency measures, JLR’s EBITDA margins rose to 16.2% in Q3FY24. The brand aims to generate over £2 billion in free cash flow in FY24, significantly cutting its net debt and aiming for a cash-positive status by FY25E.

Navigating Domestic Market Dynamics

The domestic vehicle market, both commercial and passenger, is bracing for a consolidation phase due to a high base effect and upcoming elections. Despite these challenges, Tata Motors is aggressively improving its profitability in this sector. It leverages diverse powertrain technologies and aims to dominate the electric passenger vehicle (E-PV) market by planning to sell around 1 lakh E-PVs by FY25.

Leading the EV Revolution

Tata Motors is not just embracing the EV revolution; it’s leading it. The company’s ambitious plans for the E-PV market and winning significant E-bus tenders underline its commitment to sustainable mobility. With exciting new EV models on the horizon and expanded production capacities, Tata Motors is poised to redefine green mobility.

Investment Outlook and Market Position

Despite the stock’s impressive rally over the past year, ICICI Securities assigns a “HOLD” rating with a target price of ₹1,000. This cautious optimism reflects the potential for limited upside given the stock’s recent performance. The valuation appreciates Tata Motors’ strengths across its segments, including JLR’s growth, domestic market strategies, and innovative investments in the EV and technology arenas.


As this automobile company from Tata continues to make strategic advances, it solidifies its position as a key player in the transition towards more sustainable and innovative mobility solutions. The company’s focus on financial health, strategic growth areas, and technological investments presents a compelling narrative for investors. Tata Motors stands at the forefront of shaping the future of mobility, balancing immediate achievements with long-term visionary goals.

Check the report by ICICI Direct here.

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