CarTrade Shares Rise 5% During Intraday

SUMMARY

Shares of CarTrade leaped nearly 5% to INR 1,800 on the BSE, but later shed some gains and traded 2.5% higher at INR 1,762.80 around 12:53 PM

CarTrade’s market capitalisation stood at INR 8,362.03 Cr

The shares hit an all-time high of INR 1,834.95 apiece on Saturday

Shares of online classifieds and auto auction platform CarTrade leaped nearly 5% to INR 1,800 apiece on the BSE during intraday trade today (February 6).

The stock, however, later shed some gains and traded 2.5% higher at INR 1,762.80 around 12:53 PM, compared to its last close of INR 1,719.10 on February 5.

CarTrade’s market capitalisation stood at INR 8,362.03 Cr (more than $955 Mn).

Out of the last 10 trading sessions, the stock has ended in green in six, gaining about 28% since January 24, while in the last 52 weeks, it has gained more than 144%.

The shares hit an all-time high of INR 1,834.95 apiece on Saturday, and settled at INR 1,758.10, following strong third-quarter earnings.

CarTrade posted a consolidated net profit of INR 45.53 Cr in Q3 FY25, as against a loss of INR 23.55 Cr a year ago. Its operating revenue surged 27% to INR 176.21 Cr from INR 138.58 Cr in Q3 FY24.

The auto auction platform also allotted 69,000 equity shares under its ESOPs plan.

The company had last October said in a filing that Goldman Sachs Asset Management increased its stake in CarTrade to 7.19% from 5.15% at the end of the June quarter by picking up 9.78 Lakh more shares through open market transactions along with its associated entities.

Since then, the stock has gained more than 89% in value as of its last close.