CarTrade Shares Touch New 52-Week High At INR 1,136.60

Shares of online auto auction platform CarTrade surged as much as 2.6% to touch a fresh 52-week high of INR 1136.60 during the intraday trade today (November 5). This comes four sessions after recording a 52-week high of INR 1,090.05 on October 29. 

However, the stock shed some of the gains to end the day at INR 1,125.50, up 1.62% from the previous close. 

Today marks the fourth consecutive session of the company’s stock ending in the green. For the day, as much as 3.47 Lakh shares traded hand in the bourses and the company’s valuation stood at INR 5,323.62 Cr. 

It is pertinent to note that CarTrade’s shares have surged 7.8% since it announced Q2 numbers for the financial year 2024-25 (FY25) on October 28. 

The company reported a 509% year-on-year jump in its consolidated net profit to INR 30.72 Cr in Q2 FY25 from INR 5.04 Cr in the year-ago period. This marks a sequential increase of 34.1% from INR 22.89 Cr in the previous quarter. 

Revenue from operations rose 28.4% to INR 154.20 Cr in Q2 FY25 from INR 120 Cr in the corresponding quarter last year. Notably, this is a 9.2% quarterly increase in operating revenue from INR 141.17 Cr reported in Q1 FY25. 

CarTrade made its public debut in August 2021. Its listing price at BSE was INR 1,600 against the issue price of INR 1,618 at the upper price band. The company has given a handsome year-to-date YTO return to its investors of 56.08%. 

This comes against the Indian benchmark indexes witnessing volatility, primarily driven by geopolitical concerns, FII’s withdrawing money from India and upcoming significant events in the United States.

After Sensex fell sharply by 964 points or 1.29% at 78,782.24 and Nifty 50 dropped 309 points or 1.27% to settle at 23,995.35 on November 4, today’s (November 5) trading session ended in green. 

While Sensex gained 694.39 points or 0.88% to reach 79,476.63 today, Nifty 50 surged 217.95 points or 0.91% to end at 24,213.30.

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