Cartrade Tech News Today

Institutional sellers sold up to a 5% stake in CarTrade Tech for around Rs 200 crore through a block deal on Friday, with Axis Securities as the banker. The company has no promoter holding, with a significant portion of shareholding held by institutional shareholders. Mutual funds and foreign portfolio investors held stakes in the company.

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The profit after tax for the reported quarter stood at Rs 24.97 crore, resulting in year-on-year (YoY) growth of 43%, while the company had reported a consolidated revenue of Rs 116 crore.

Shares of CarTrade Tech jumped as much as 10.5 percent in intra-day trade on Tuesday to near their 52-week high of ₹896.50 apiece.

Equity markets closed lower on Friday, driven by profit-taking as Nifty 50 hit new highs. Heavyweights like RIL, L&T, and HDFC Bank declined, with FPIs selling off.

The market’s reaction came after the used car seller posted a net profit of Rs 22.5 crore in the three-month period ending March 31, according to an exchange filing issued on May 6.

CarTrade Tech shares rose 14.02% to Rs 855 against the previous close of Rs 749.85 on BSE. Market cap of the firm climbed to Rs 3792 crore. 

Stocks to watch: Shares of firms like HDFC Bank, Godrej Consumer, Kotak Bank, Yes Bank, DMart, Titan, and others will be in focus on Monday's trade.

Based on the OI percentage, 82 stocks saw long unwinding, which included Abbott India, Havells India, Ipca Laboratories, Oberoi Realty, and Aditya Birla Fashion & Retail.