CarTrade Tech Shares Drop 6% Post Q2 Results; Nomura Raises Target Price

Economic Times Markets · stocks

CarTrade Tech's shares fell by 6.5% to Rs 2,304 on Thursday following the company's Q2 results. Net profit rose 3% to Rs 66 crore, while revenue increased 10% to Rs 213 crore. EBITDA grew 20% to Rs 76 crore, with OLX India showing strong 26% revenue growth. Despite a slight reduction in revenue estimates, Nomura maintained its positive outlook, raising the target price to Rs 3,377, citing significant growth potential in OLX and attractive valuations.