Cartrade

This new-age stock is up 125% in 8 months; nears IPO price after over 3 yrs

CarTrade Tech share price today hit an over three-year high of Rs 1,618, its highest level since September 2021

Cartrade Tech surges 6%, hits 52-week high after Mirae Asset MF buys stake

Cartrade Tech share price scaled up to 6.02 per cent, hitting its 52-week high at Rs 1,034 a piece on the BSE in intraday deals

Warburg Pincus exits Cartrade Tech; sells 8.64% stake for Rs 375 crore

Highdell Investment, an entity owned by US-based private equity major Warburg Pincus, on Tuesday divested its entire 8.64 per cent stake in Cartrade Tech for a little over Rs 375 crore via an open market transaction. Cartrade Tech is one of India's largest online classifieds and auto auction platforms. According to the bulk deal data available on the NSE, Highdell Investment sold 40.76 lakh shares, amounting to an 8.64 per cent stake in Cartrade Tech. The shares were offloaded at an average price of Rs 920.30 apiece, taking the transaction value to Rs 375.16 crore. Meanwhile, Mirae Asset Mutual Fund purchased 30.22 lakh shares or a 6.4 per cent stake in Cartrade Tech in three tranches, the data showed on the National Stock Exchange (NSE). The shares were picked up at an average price of Rs 920 apiece, taking the aggregate deal value to Rs 278.02 crore. Details of the other buyers of Cartrade Tech's shares could not be identified on the bourse. In June, Warburg Pincus sold an 8.6

Ola Electric charges new-age stocks; Can Zomato, Paytm extend rally ahead?

New-age stocks have zoomed up to 80% from Election Result day lows. Charts suggest PolicyBazaar, Paytm, Nykaa and Delhivery can rally another 12%; while Zomato and CarTrade may dip going ahead.

Vinay Rajani of HDFC Securities recommends buying these stocks on August 7

Nifty gave up early gains on Aug 06 to end in the negative. In the process it formed a pattern known as Bearish side by side black candle.

CarTrade shares fell after Highdell, MacRitchie offload 13% stake

The company came out with a Rs 3,000-crore IPO in August 2021, where it sold shares at Rs 1,618 apiece

Warburg, Temasek & JP Morgan sell 13.7% stake in CarTrade for Rs 535 cr

Warburg Pincus, Temasek Holdings and JP Morgan Investment on Monday divested a total of 13 per cent stake in CarTrade Tech for Rs 535 crore through open market transactions. Highdell Investment, an arm of US-based Warburg Pincus, sold the shares of CarTrade Tech while Singapore's sovereign wealth fund Temasek Holdings' affiliate MacRitchie Investments offloaded shares of the company on the BSE. CMDB II, a private equity fund run by JP Morgan Investment Management also sold the shares of CarTrade Tech through a bulk deal on the National Stock Exchange (NSE). A total of 64.57 lakh shares or 13.77 per cent stake were pared by Warburg Pincus, Temasek and JP Morgan. According to the bulk deal data available on the BSE, Highdell Investment sold 40.65 lakh shares, amounting to an 8.66 per cent stake in CarTrade Tech. MacRitchie Investments sold 20.32 lakh shares or 4.33 per cent stake in Mumbai-based CarTrade Tech. The shares were sold in the price range of Rs 828-828.58 apiece by the tw

CarTrade at 28-month high; rallies 30% in 1-week as Goldman Sachs ups stake

Goldman Sachs Asset Management B.V. said their holdings have increased to 2.42 million shares, representing 5.16 per cent of the capital of CarTrade as at May 3, 2024.

Shut OLX Auto due to focus on profitable growth: CarTrade's Aneesha Menon

Our dominance in the consumer group is unparalleled, especially in the auto portal segment, said Aneesha Menon

Online platform CarTrade Tech to acquire Sobek Auto for Rs 537 crore

Online auto classified platform CarTrade Tech on Monday said it has inked a pact to acquire Sobek Auto India for a consideration of Rs 537 crore. Sobek is engaged in the business of running an automotive digital platform and a classifieds internet business. The company has entered into a share purchase agreement to acquire 100 per cent stake of Sobek from OLX India BV subject to completion of certain conditions, CarTrade Tech said in a regulatory filing. The acquisition of Sobek will be for a consideration of Rs 537.43 crore to be paid on the completion date of the acquisition, it added. The acquisition is in furtherance of the strategic objectives of the company to undertake investments which provide synergistic benefits to the existing businesses of the CarTrade Tech, it said. On June 30, 2023, Sobek had acquired the classifieds internet business from OLX India on the terms and conditions agreed under a business transfer agreement.

CarTrade plans to invest Rs 750 crore in next 5-7 years in automotive space

Automotive platform CarTrade Tech on Thursday said it has launched CarTrade Ventures and is planning to invest Rs 750 crore in the next 5-7 years to fund acquisition and investment in the automotive space under this business initiative. The company, in a statement, said it will look to acquire and invest in companies offering differentiated services and technology in the automotive space. The capital invested will be through profits generated and funds available in the company, it added. "We have launched CarTrade Ventures to invest in new-age technologies and to digitalise the buying, selling and ownership of vehicles and be a key enabler in the growth of the auto ecosystem. "To facilitate this, we are looking to deploy up to Rs 750 crore for acquiring and investing in companies that are driving innovation in the global auto ecosystem," said Vinay Sanghi, founder and Chairman, CarTrade Tech Group. The company has been successful in growing its business organically and inorganical

Is the worst over for new-age tech companies? Here's what analysts say

Shares of Paytm, FSN e-Commerce Ventures (the parent firm of Nykaa), PB Fintech (parent firm of Policybazaar), and CarTrade Tech surged up to 17 per cent in a month

Sensex, Nifty50 end flat in a wobbly trade; Tata Motors, Maruti surge 3%

CLOSING BELL: Broader markets, too, turned tepid as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.3 per cent

SoftBank-backed Cars24 eyes small towns to sell used cars in India

The company more than doubled its India revenue in 2022 to Rs 6,008 crore from Rs 2,776 crore in 2021

CarTrade Tech ties up with Chola for financing used vehicle purchases

Chola, the financial services arm of the Murugappa Group, will be the preferred financier for customers purchasing used vehicles from CarTrade Tech's CarWale abSure's dealers

CarTrade Tech plans to launch 200 abSure outlets across India in 2 years

Automotive platform CarTrade Tech said on Wednesday it plans to launch over 200 abSure (Absolute Sure) retail outlets, a one-stop tailor-made retail facility, pan-India in the next two years.

CarTrade Tech hits new all-time low, stock down 46% from its issue price

Since October 29, 2021, the market price of CarTrade Tech slipped 24 per cent after the company reported a net loss for the second straight quarter of current fiscal.

50% of November IPOs fall below their issue prices amid market crash

PB Fintech, Fino Payments Bank, SJS Ent, KIMS, Ami Organics, Zomato and Sansera Engg from the BSE IPO index were down between 6 per cent and 19 per cent in intra-day trade today

CarTrade slips 7%, stock at new low on second straight quarterly loss

For H1FY22, CarTrade Tech posted net loss of Rs 81.47 crore against a net profit of Rs 63.57 crore during the same period of FY21

CarTrade posts consolidated net loss of Rs 35.35 cr in September qtr

Multi-channel automobile buying and selling platform CarTrade Tech Ltd on Thursday reported a consolidated net loss of Rs 35.35 crore for the second quarter ended September 30, 2021