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CarTrade Tech jumps as foreign brokerage raises target

01-Jul-26 15:48 Hrs IST

The stock touched an intraday high of Rs 2,846 on the BSE, tracking strong buying interest following the brokerage's positive commentary on the company's growth prospects.

According to the brokerage, CarTrade Tech's outlook remains supported by improving monetisation of its OLX platform, expansion of new revenue streams, and sustained margin expansion. It also highlighted emerging growth drivers such as artificial intelligence-led monetisation, used-car financing, and expansion into services like escrow and logistics.

The brokerage raised its earnings estimates and lifted its target price to Rs 3,286 from Rs 2,740, implying an upside of around 22% from current levels.

It also noted that OLX continues to benefit from strong user engagement and a dominant position in used-car listings, providing scope for further revenue growth as premium and value-added services gain traction.

CarTrade Tech have remained volatile but strong over the past year, reflecting continued investor interest in India's online auto classifieds and digital vehicle marketplace space.

CarTrade Tech operates a digital marketplace ecosystem comprising platforms such as CarWale, BikeWale, CarTrade, OLX India, Shriram Automall and CarTrade Exchange. On a consolidated basis, its profit after tax jumped 53.6% YoY and 15.2% QoQ to Rs 70.85 crore in Q4 FY26. Revenue from operations stood at Rs 203.14 crore in Q4 FY26, up 19.8% YoY but down 3.1% QoQ.

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