CarTrade Tech

May 7 (Reuters) - Cartrade Tech Ltd CART.BO:

• CARTRADE TECH MARCH-QUARTER CONSOL NET PROFIT 646 MILLION RUPEES

• CARTRADE TECH MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 2.03 BILLION RUPEES

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** Shares of CarTrade Tech CART.NS climb 2.3% to 2,462.3 rupees

** Nomura upgrades stock to "buy" from "neutral", citing healthy Q3 EBITDA and margin growth; lifts PT to 3,026 rupees from 3,021 rupees

** Brokerage sees rising competition among carmakers driving digital ad spending, which bodes well for CART

** Nomura keeps CART's FY26-28 compounded annual revenue growth unchanged at 21%, highlights growth potential for used car vertical OLX as it adds new services

** Adds, EBITDA margin estimates for FY26, FY27 and FY28 raised between 120-230 bps to 35%, 37.6% and 39.4%

** Analysts covering stock rate it "buy" on average, median PT is 3,087.93 rupees - data compiled by LSEG

** Stock down 12% in January; on track for its worst month since March 2024, if losses hold

(Reporting by Nandan Mandayam in Bengaluru)

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Jan 28 (Reuters) - Cartrade Tech Ltd CART.BO:

• DEC-QUARTER CONSOL NET PROFIT 558.6 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.1 BILLION RUPEES

Source text: [ID:]

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** Shares of Cartrade Tech CART.NS rise as much as 4.2% to 2,490 rupees, last up 1%

** Co said traffic at its platforms, CarWale and BikeWale, rose 74% to their highest ever single-day traffic on Monday

** CART says spike in traffic highlights combined impact of festive season demand and tax rate cut, which enhanced affordability and lifted consumer sentiment across automobile sector

** India's Nifty auto index .NIFTYAUTO rises to record high

** CART up ~62% YTD

(Reporting by Vijay Malkar)

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** CarTrade Tech CART.BO shares over-valued as bulk of revenue still comes from B2B clients, with limited contribution from B2C platforms, says JM Financial

** Downgrades to "sell" from "hold" at PT of 2,350 rupees, 14% downside to last close

** CART down 9.8% to 2,470.3 rupees; marks biggest intraday-pct loss in five months

** Brokerage says online automotive services supplier's over-reliance on B2B makes it vulnerable to cyclical nature of spends

** Adds demand boost, driven by recent GST cuts, does not necessarily result in linear rise in B2B segment's revenue

** Stock rated "hold" on avg; median PT is 2,350 rupees, per data compiled by LSEG

** CART gains 59.5% YTD

(Reporting by Aleef Jahan in Bengaluru)

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** Online automotive services supplier CarTrade Tech CART.NS jumps 10.8% to 2099.2 rupees after Q1 results

** Stock set for best day in more than three months, if gains hold

** Co's quarterly profit after tax jumps nearly 93% y/y, while revenue grows 22%, benefiting from growth in co's re-marketing and transacting businesses

** YTD, CART shares up 41.7% y/y

(Reporting by Ananta Agarwal in Bengaluru)

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June 24 (Reuters) - Cartrade Tech Ltd CART.BO:

• CARTRADE TECH LTD - LAUNCHES CARTRADE LABS

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** CarTrade Tech CART.BO jumps as much as 7.2% to 1,842 rupees

** Online vehicle classifieds and auction portal reports ~86% y/y jump in Q4 consol net profit; rev from ops up 16.7% y/y

** Stock rated "buy" on avg; median PT is 1,820 rupees, per data compiled by LSEG

** YTD, CART gains ~17%

(Reporting by Ashish Chandra in Bengaluru)

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Jan 29 (Reuters) - Cartrade Tech Ltd CART.BO:

• DEC-QUARTER CONSOL NET PROFIT 426.9 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 1.76 BILLION RUPEES

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** CarTrade Tech CART.BO rises as much as 3.4% to 1,501 rupees, highest since mid-September, 2021

** Online services co expects 25-30% growth in Q3 PAT, driven by strong operating margins, 30% uptick in rev vs Q2

** Stock has gained more than 8% in last three sessions

** JM Financial says CART's 30% growth estimate in new auto, amid relatively muted auto sales, a positive surprise

** Upgrades FY27 EBITDA estimates for new auto and OLX segment to 30x

** Stock rated "buy" on avg; median PT is 1,221 rupees - LSEG

** CART has more than doubled YTD; eyes best yearly gain since listing in 2021

(Reporting by Ashna Teresa Britto in Bengaluru)

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Nov 5 (Reuters) - Cartrade Tech Ltd CART.BO:

• CARTRADE TECH - CONSUMER GROUP EXPECTS TO REPORT 30% Y/Y REVENUE GROWTH FOR Q3

Source text: ID:nBSE9bx29h

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Nov 1 (Reuters) - Cartrade Tech Ltd CART.BO:

• CARTRADE TECH LTD - AMIT KUMAR RESIGNS AS MD, CEO OF OLX INDIA

Source text: ID:nBSE1cvhGP

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Oct 28 (Reuters) - Cartrade Tech Ltd CART.BO:

• SEPT-QUARTER CONSOL NET PROFIT 278.8 MILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 1.54 BILLION RUPEES

Source text: [ID:]

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BENGALURU, Sept 24 (Reuters) - U.S.-based private equity firm Warburg Pincus's unit sold its entire 8.6% stake in Indian automobile portal CarTrade Tech CART.BO on Tuesday through a bulk deal worth 3.75 billion rupees ($44.86 million), according to NSE data.

As of June 30, Warburg Pincus owned more than 4 million shares in CarTrade through its unit Highdell Investment, making it the company's second-largest shareholder, according to LSEG data.

Highdell sold its entire stake at a price of 920.3 rupees per share, a near 6% discount to CarTrade's closing price on Monday.

Mirae Asset Mutual Fund purchased over 3 million shares at an average price of 920 rupees per share.

($1 = 83.5930 Indian rupees)

(Reporting by Ashna Teresa Britto; Editing by Leroy Leo)

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** Shares of Cartrade Tech Ltd CART.NS fall as much as 3.5% to 828.15 rupees

** Warburg Pincus entity Highdell Investment and Temasek's MacRitchie Investments to sell at least 10.4% stake in online used car retailer via block deal on Monday - CNBC-TV18 report

** Adds, share sale at 820 rupees per shr, 8.4% discount to previous closing price; Highdell to sell 7%, MacRitchie selling 3.4%

** Around 2.4 mln shares traded vs 30-day avg of 15,371 shares

** All 6 analysts tracking stock rate it "buy" or "strong buy" - LSEG data

** Stock trims YTD gains to 16.3%

(Reporting by Nandan Mandayam in Bengaluru)

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** Shares of Cartrade Tech CART.BO rise as much as 14% to 855 rupees, highest since Nov. 24

** Online auto retailer says its March-quarter consolidated net profit up over 50% at 225.3 mln rupees ($2.7 mn)

** Rev from ops up 51% Y/Y

** More than 62,000 shares change hands, 2.8x its 30-day avg

** Five analysts covering the stock on avg have a "buy" rating; median PT is 855 rupees - LSEG data

** Stock gained 10% in April

($1 = 83.4675 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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** Shares of CarTrade Tech CART.BO up as much as 15.92% at 844.75 rupees, hitting their highest level since Jan. 20, 2022

** Online auto retailer says consol net profit more than tripled to 109.3 mln rupees ($1.31 mln) in Q2, while rev from ops surged more than 3x

** More than 160,357 shares traded by 12:43 p.m. IST, 13.6x the 30-day avg in heaviest trading day since July 7

** Mean recommendation of six analysts eyeing the stock is "buy", median PT is 700 rupees - LSEG data

** Stock up ~79% YTD

($1 = 83.3650 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

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** Shares of CarTrade Tech CART.NS rise 3.13% to 635.45 rupees; stock set to snap 5 sessions of losses, if gains hold

** Rise in multi-channel auto platform after its unit Sobek Auto India announces decision to shut down C2B (consumer-to-business) operations of auto transaction business

** Move to reduce Sobek's total expenses, says CART

** Adds Sobek to shift focus to core classified business

** CART shares up 36% in 2023 so far including today's gains - LSEG data

(Reporting by Bharath Rajeswaran in Bengaluru)

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** CarTrade Tech CART.NS up ~5% at 510.20 rupees, on pace to post gains after six-session losing streak

** Since gaining after the online auto retailer's results on Aug. 10, the stock has lost 9.3% in past six sessions

** Post CART's call on Mon with analysts/investors, Nomura say CART's acquisition of Sobek Auto India will nearly double business scale; keeps "buy" and TP of 678 rupees

** 5 of 6 brokerages covering the stock rate it the equivalent of "buy" or "strong buy" median PT is 689 rupees

** Stock now up ~9% YTD after tumbling 45% last year

(Reporting by Manvi Pant in Bengaluru)

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Aug 10 (Reuters) - Cartrade Tech Ltd CART.BO:

• INDIA'S CARTRADE TECH JUNE-QUARTER CONSOL NET PROFIT 130 MILLION RUPEES VERSUS PROFIT 25.7 MILLION RUPEES

• CARTRADE TECH JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 860.7 MILLION RUPEES VERSUS 827.8 MILLION RUPEES

Source text for Eikon: ID:nNSE7TcmFP

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** Shares of Cartrade Tech Ltd CART.NS rise as much as 16.8% to 569.15 rupees, highest since Oct 28, 2022

** Multi-channel auto platform company on late Monday said it will acquire 100% stake in Sobek Auto India Pvt Ltd from its holding company OLX India B.V for 5.37 bln rupees ($65.2 mln)

** More than 800,000 shares change hands by 09:27 a.m. IST, 3x its 30-day avg

** Five of the 6 analysts covering the stock have rated it "buy" or "strong buy", while 1 rates it at "sell"; median PT is 700 rupees - Refinitiv data

** Stock up ~4% YTD, as of last close

($1 = 82.4100 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru)

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July 10 (Reuters) - Cartrade Tech Ltd CART.BO:

• CARTRADE TECH LTD- ACQUISITION OF 100% STAKE IN SOBEK AUTO INDIA

• CARTRADE TECH LTD- DEAL FOR 5.37 BILLION RUPEES

Source text for Eikon: ID:nNSE9CSMkz

Further company coverage: CART.BO

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** Shares of Cartrade Tech Ltd CART.NS rise as much as 10.24%, most intraday gains in over 10 months, to 444 rupees

** Multi-channel auto platform company reports consolidated net profit of 149.6 mln rupees in March quarter compared to a loss of 256.7 mln rupees YoY, aided by falling employee benefit costs

** Revenue rises 3% YoY to 958.6 mln rupees

** Core profit rises to 117.77 mln rupees in Q4, CART had reported an operational loss of 259.33 mln rupees in the corresponding quarter a year ago

** Stock is most active in two months, with the trading volume at 801,121 shares as of 12:13 p.m. IST, nearly seven times the 30-day avg of 118,719 shares - Refinitiv data

** Of the six analysts tracking CART, five maintain "buy" and one suggests "sell"; median TP is 705 rupees

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463))