Multibagger stock: Gabriel India share price jumped 7.41%, touching an intraday high of ₹1557.80 per share on NSE, in Monday’s trading session despite weak market sentiments.
Gabriel India shares opened at ₹1,460 apiece today, as compared to previous close of ₹1,448.90 on Friday last week.
The stock rally came in after the shares witnessed a spurt in its trading volume. According to data available on NSE, around 17.34 lakhs shares changed hands during the intraday session on 19 October.
Gabriel India recent business update
In an exchange filing on 6 October, Gabriel India said that parent company Anand Group have signed a joint venture (JV) agreement with FORVIA to strengthen their presence in India’s rapidly growing automotive market.
The filing further revealed that combining FORVIA’s global seating expertise with ANAND Group’s strong local footprint, the partnership will create a platform for growth in seat frames and complete seat.
The new joint venture, which will operate under the name Faurecia Anand Seating India Private Limited, will be majority-controlled by FORVIA and focus on manufacturing seat frames and complete seating systems. FORVIA will hold a 50% plus one share stake in the venture, while Gabriel India will own 50% minus one share. Gabriel India, listed on the National Stock Exchange and BSE, is the flagship company of the ANAND Group.
By combining FORVIA Seating’s technological expertise and manufacturing strengths with ANAND Group’s local capabilities, the partnership aims to create a strong foundation for expanding FORVIA Seating’s presence in India. The joint venture will also benefit from access to FORVIA Seating’s complete product portfolio and engineering expertise.
The partnership builds on the longstanding relationship between FORVIA and ANAND, which dates back to 1991, when the companies established a collaboration in Clean Mobility. ANAND Group’s extensive presence in India’s automotive industry and its track record of building enduring partnerships make it a strategic partner for FORVIA as it pursues its growth plans in the country.
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