Gabriel India shares surge 44% in 2 days, hit 52-week high on restructuring plan
Gabriel India
surged 20% on Wednesday to hit a fresh
52-week high
of Rs 1,011.45 on the BSE, extending their two-day rally to 44% as investors cheered the company's recently announced strategic restructuring plan.
The rally, which began on Tuesday, July 1, was triggered by Gabriel India's announcement of a composite scheme of arrangement approved by its Board of Directors on June 30. Under the scheme, Gabriel will consolidate key group operations by absorbing the
automotive business
undertaking of Asia Investments Private Limited (AIPL), including its subsidiary Anchemco India Private Limited.
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by Taboola
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The acquired business spans product lines such as brake fluids, radiator coolants, diesel exhaust fluid (DEF or AdBlue), and PU/PVC-based adhesives. The deal also brings under Gabriel's fold AIPL's strategic investments in Dana Anand India Private Limited, Henkel ANAND India Private Limited, and ANAND CY Myutec Automotive Pvt Ltd.
To facilitate the merger, Gabriel will issue 1,158 equity shares of Re 1 each for every 1,000 equity shares of Rs 10 each held in AIPL by its shareholders.
Stock on a tear
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On Tuesday, the stock had already surged 20% to Rs 842.75 in early trade, rising sharply from its previous close of Rs 668.70.
Since then, buying interest has intensified. With Wednesday's gains, Gabriel India's share price has now climbed 110.4% over the past year, risen 101.8% in the last six months, jumped 70.7% in the past three months, and added 53.6% over the last month alone.
Technical indicators flash overbought
From a technical perspective, Gabriel India remains in strong uptrend territory. The stock is trading above all key short-term and long-term moving averages, including the 5, 10, 20, 30, 50, 100, 150, and 200-day SMAs, signaling entrenched bullish momentum.
However, some caution may be warranted. The 14-day Relative Strength Index (RSI) stands at 84, significantly above the threshold of 80, indicating the stock is now in overbought territory and may be due for a pullback.
At current levels, Gabriel India trades at a price-to-earnings ratio of 41.18 and a price-to-book ratio of 8.53, reflecting elevated investor expectations and strong sentiment following the restructuring plan.
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Gabriel India share price surges 20%, hits 52-week high on strategic restructuring plan
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