CarTrade Tech stock surged to a 52-week high of INR 1,090.05 during intraday trading today (October 29).
By the end of the day, the stock settled at INR 1,052.80 per share, reflecting a gain of 0.90%.
Approximately 29,495 shares of CarTrade were traded, with the company’s market capitalisation reaching INR 4,979.75 Cr at the close.
Shares of online auto auction platform CarTrade
Tech surged to a 52-week high of INR 1,090.05 during intraday trading today (October 29).
By the end of the day, the stock settled at INR 1,052.80 per share, reflecting a gain of 0.90%.
Throughout the session, approximately 29,495 shares of CarTrade were traded, with the company’s market capitalisation reaching INR 4,979.75 Cr at the close.
This marks the second consecutive day of gains for CarTrade, driven by its recent Q2 FY25 results, which showed a substantial 509% year-over-year increase in consolidated net profit to INR 30.72 Cr, up from INR 5.04 Cr in the same period last year.
The company also reported a 28.4% rise in revenue from operations, totaling INR 154.20 Cr for Q2 FY25 compared to INR 120 Cr in the previous year’s quarter.
Meanwhile, expenses rose to INR 135.08 Cr, an increase of 22.6% from INR 110.13 Cr in Q2 FY24.
Founded in 2009 by Vinay Sanghi and Rajan Mehra, CarTrade facilitates the sale of both new and used vehicles and includes brands like OLX India, CarWale, BikeWale, CarTradeExchange, Shriram Automall, Adroit Auto, and Autobiz under its umbrella.
It also provides technology solutions to OEMs and dealers.
Notably, CarTrade competes with major players like CarDekho, Droom, and CARS24 in India’s expanding online automotive classifieds market.
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