Gabriel on verge of multi-year breakout; know the development of company with Ola Electric Scooter!
Nowadays, it’s quite common to come across two prominent news that surface on the front page of any tabloid or newspaper. One is, of course, related to the stock markets as Sensex and Nifty have reached new milestones while the second one is Ola. Ride-hailing major & electric vehicle manufacturer Ola on India’s 75th Independence Day revealed the launch of Ola Electric Scooter.
This Electric Scooter is said to be a game-changer for the Indian automotive industry. Considering this, many investors would like to grab a pie of this growth story. However, many are puzzled at this point as to how to play this story. Since, as of now, the shares of Ola Electric Scooter are not traded on exchanges. The best way to play this theme would be to invest in stocks, which are suppliers to the Ola Electric Scooter. So along with the solution to play this growth theme, the icing on the cake is that we have discovered one of the suppliers of the Ola Electric Scooter, which is actively trading on exchanges.
Without further ado, we would reveal the name of the stock, which is Gabriel India. Gabriel India is a proud member of Anand Group, known for its hard work and commitment. The company has transformed itself from being a single-product company to inline while changing market, technical & social trends and played a key role in limiting emissions of ride control products as well as foster the cause of environmental protection.
The annual report 2020-21 of the company mentions that 67 per cent of the total revenue contribution is driven from the two and three-wheelers segment. The company has signed a letter of intent to Ola Electric for supplying suspension components for production in India solely as stated by one of the broking firm reports. Additionally, Gabriel India was able to win new businesses with existing customers such as TVS, Yamaha, Suzuki, Mahindra, Piaggio. The company has been already engaged with multiple new entrants, especially in the electric vehicle (EV) domain, such as Ather, Ampere Motors and few others.
If this doesn’t excite you, the joy of joys is that the stock is on the verge of multi-year breakout and interestingly, we are not even halfway through the day! The stock witnessed near about equal volumes, which it had recorded in the prior trading session.