Shares of online classifieds and auto auction platform CarTrade jumped nearly 5% on the BSE during intraday trade today (February 6) to hit Rs 1,800 per share.
However, the stock later recovered some ground and was trading 2.5% higher at Rs 1,762.80 compared to its last close price of Rs 1,719.10 on February 5.
CarTrade’s market capitalisation stood at Rs 8,362.03 crore (over $955 million).
Out of the last 10 trading sessions, the stock has closed in the green in six, gaining nearly 28% since January 24, while in the last 52 weeks, it has gained over 144%.
The shares hit an all-time high of Rs 1,834.95 per share on Saturday and closed at Rs 1,758.10 after strong third quarter earnings.
CarTrade reported a consolidated net profit of Rs 45.53 crore in Q3 FY25 as against a loss of Rs 23.55 crore a year ago. Its operating revenue grew 27% to Rs 176.21 crore from Rs 138.58 crore in Q3 FY24.
The auto auction platform also allotted 69,000 equity shares under its ESOP plan.
Goldman Sachs Asset Management along with its affiliated entities has increased its stake in CarTrade from 5.15% to 7.19% at the end of June quarter by buying 9.78 lakh more shares through open market transactions, the company had said in a filing last October.
Since then, the stock’s value has increased by more than 89% as of the last closing price.
CarTrade shares jump 5% during intraday
